There’s a very interesting, albeit down-in-the-weeds, analytic debate brewing around a confluence of recent publications. Tim Geithner’s new book defends the interventions of the Treasury Department he led to reflate credit markets (and I worked with the team on this back then). Mian and Sufi’s new book, reviewed here by Bin Appelbaum, argues that Treasury… Read more
I’m hearing a fair bit of optimism re the current economy. Many of the folks with whom I interact on this stuff are feeling better about where things are headed, with unemployment down, households looking pretty deleveraged, job growth at a decent clip, and the weather-beaten data flow improving. As Mark Zandi wrote in his… Read more
I’ve been downright remiss in not continuing to hammer this point, as was my wont months back. Thankfully, this nice oped in this AM’s NYT reminds us that this is still an important intervention to clear the housing market and avoid more mortgage defaults. I wouldn’t agree that there’s no housing recovery—nationally prices are up more… Read more
Last year around this time I posted my ten favorite graphs from my prolific colleagues at the Center on Budget and Policy Priorities. It’s tough to make the cut. If I may be permitted—and I’m bragging on my friends, not me—we at CBPP make a lot of revealing graphs. But I’ve chosen the ones that… Read more
I’m talking about the Federal Housing Administration, over at the NYT Economix blog.