Archive for the ‘New Posts’ Category

The Fed lowered its long-term unemployment rate…and a salient point re the R’s budgets

March 19th, 2015

Details at PostEverything. Everyone’s wound up about precisely when liftoff will occur (when the Fed will first raise interest rates after about six years at about zero) but I think the big story is that the Fed lowered their “natural rate,” the unemployment rate consistent with stable inflation. It’s a confusing time for Fed macromanagement… Read more

One of the more outrageous things ever said re fiscal policy…and that’s a high bar.

March 17th, 2015

House Republicans released their budget today, and I found it to be…um…how can I put this nicely?…orthogonal to reality. As I wrote earlier: The policies put forth in this document suggest that America’s main problem is that the poor have too much and the wealthy, too little. The budget plan “corrects” this perceived imbalance by… Read more