Orange may be the new black, but in my world raising the federal funds rate is the new deficit reduction. Let me explain. I keep bumping into arguments about why, despite pressures from wages or prices, either in real life or in expectations, the Fed should pre-emptively raise the interest rate it controls in order… Read more
One of the things I talk a lot about on these pages is the need for policy to reconnect economic growth to middle-class prosperity. There are a number of policy approaches to attacking that fundamental problem of the US economy. I’ve often stressed full employment as a solution, a goal that should appeal to people… Read more
Because it’s not as tight as that 5.6% unemployment rate would lead you to believe. Over at PostEverything. I think figure 2 of the piece, below, tells an important part of the story, but you be the judge. Light posting this week and not because I’m off to Cuba to walk the beaches before they… Read more
Or you could just look at the latest work of that absolute Zen master of crisp analysis, Tom Toles: Source: Washington Post
Check it out over at the NYT.