Archive for the ‘New Posts’ Category

Links; more on heating vs. overheating.

January 12th, 2018

Medicaid is a highly efficient program (see figure below), delivering health coverage to 70 million low-income persons while conveying many ancillary benefits on its beneficiaries, as Hannah Katch and I point out in the NYT oped. So, of course, Republicans want to lay waste to it. They were blocked from doing so through their ACA… Read more

Is it getting a little warm around here?

January 11th, 2018

The front page of my WSJ this AM, above the fold, screams: “Treasury Yields Ripple Through Markets.” The 10-year yield was up for five days straight as of yesterday, approach a 52-week high at 2.609%. The 10-year “breakeven rate,” a market-based measure of inflation expectations (it’s the difference between the 10-year rate on inflation-protected bonds… Read more

Questions for the MMTers

January 7th, 2018

As their adherents readily, and fairly, remind me, there’s a lot I don’t understand about modern monetary theory (MMT). So, let me ask about some aspects of the theory and see if I might get me some education. First, I’ve stressed that, as I understand it, there’s no distance between my views and a core… Read more

December jobs report: tight labor market sends black unemployment to historical lows

January 5th, 2018

Payrolls rose by 148,000 last month and the unemployment rate held steady at 4.1 percent. While the headline payroll number was below consensus, this is another solid report. Persistently strong job markets are most beneficial to the least advantaged—privileged types do well even in weaker markets—and the December unemployment rate for African-Americans fell to 6.8%,… Read more

For those seeking my smiling face on MSNBC…

January 3rd, 2018

For those looking for me on cable news… You’ll see less of me on MSNBC as, after a bunch of years, they decided not to renew my contract. Not sure why (feel free to complain to them!), but change happens, and I’m still a CNBC contributor, so you can see my talking head over there…. Read more