Archive for the ‘New Posts’ Category

Judy Shelton and her sponsor—President Trump—want to tie the hands of the Fed

July 10th, 2019

When someone seeking confirmation to high office has a paper trail fraught with positions antithetical to their confirmation, their theme song quickly becomes Shaggy’s It Wasn’t Me, as they flip and flop to disavow their earlier convictions. The most recent purveyor of this strategy is Judy Shelton, one of President Trump’s most recent likely nominees… Read more

Why a Fed rate cut makes sense

July 9th, 2019

[written with Mark Zandi, chief economist of Moody’s Analytics] This is a post about one-quarter of one percent. That’s the amount by which the Federal Reserve is expected to reduce the federal funds rate, the key interest rate they control, when they meet at the end of this month. If that sounds like too small… Read more

More evidence–this time from CBO–that higher (even much higher) minimum wages largely do what they’re supposed to do.

July 8th, 2019

Raising the federal minimum wage to $15 per hour by 2025 would lift the pay of 27.3 million workers—17 percent of the workforce—according to a new report from the Congressional Budget Office. It would raise the incomes of poor families by 5 percent and thus reduce the number of people in poverty by 1.3 million…. Read more