Here’s an engaging oped by Jon Grinspan that makes one of my favorite points, one which is obvious but under-appreciated, I think: generalized and pervasive negativity about government perpetuates broken government. As Grinspan (a name that sounds like the answer to the crossword puzzle clue: “happy central banker”) puts it: First, we need to realize… Read more
As central bankers gather for their annual conference in Jackson Hole, Wyoming, a top agenda item is evaluating the current and future amount of slack in the US economy. In this regard, they’d be well advised to check out this new study from the two economists at the Economic Policy Institute which provides an exhaustive… Read more
Fed vice-chair Stan Fischer gave another interesting (and long!—dude, you don’t have to cover everything in each outing!) speech today wherein he continues to articulate the Fed’s state-of-the-art thinking on all the big issues (here’s an earlier post re Fischer on financial oversight). Just did this CNBC hit on it so let me summarize the point… Read more
Over at the Upshot. Read the piece, but the general finding has been widely known by those who plumb the data: on average, the economy, as measured by many macro and financial indicators, does better under D presidents. The paper I review in the piece, by Alan Blinder and Mark Watson, goes further than earlier… Read more
And yes, “do good”–as in meeting the mounting problems we’re seeing develop both near and far, both now and later–would be optimal, but that may not be in the current choice set. Over at PostEverything.