What with Chair Yellen testifying in Congress over the last couple of days, I’ve been trying to dig into the case for forthcoming Fed rate hikes. Clearly, there is more price pressure in the system than in recent months, but there are also these factors to consider: –The data-driven case for rate hikes is far… Read more
[co-authored with Ben Spielberg] OTE readers know that in the quest for full employment, we pay a lot of attention to the extent of slack in the labor market (and btw, our next podcast episode will focus on this concept of labor market slack—what is it, how much is there, etc. We know…we can hardly wait,… Read more
Over at WaPo. The R’s attack on regulation writ large is clearly underway and is a profound threat. We can and should fight this on a case-by-case basis–Dodd-Frank, fiduciary rule, climate–but it’s equally important to puzzle out the thematics of why this is such an effective play for them.
The always thoughtful Neil Irwin has a good piece on why tax reform is so damn hard to pull off, citing a concept that’s big here at OTE: path dependency, or “where you end up is significantly a function of where you start out.” His case study is about leading Republicans’ idea for replacing the… Read more
…I’ve got three reasons why you should reconsider. Over at WaPo.