I share the concerns expressed at Mises Economics Blog and the Voluntary Trade Council about antitrust legislation introduced this week targeting both domestic and foreign oil producers.
Author Archives: James_Hamilton
An open letter to the Honorable Judge Carl J. West
My two cents worth on the multimillion dollar class-action lawsuit that was filed on my behalf against Ralphs Grocery Company.
War fears and the price of oil
More talk this week of war with Iran, and the price of oil jumps right up. Maybe the two are related, and maybe not.
Who’s grumpy about this week’s good economic news?
People who bought long-term Treasuries at 4.3%, that’s who.
The yield curve and predicting recessions
Jonathan Wright, a brilliant research economist at the Federal Reserve Board, recently completed a very interesting paper titled The Yield Curve and Predicting Recessions. Wright’s research seems to have been influential in Fed Chair Ben Bernanke’s recent assessment that the current very flat yield curve does not signify a coming significant economic slowdown.
What’s moving long-term yields?
Long-term interest rates continue to creep up.
Learning the new Fedspeak
Curious reaction from both markets and pundits to yesterday’s statement from the FOMC accompanying the decision to boost the fed funds rate another 25 basis points.
Facing the immigration question
Andrew Samwick had an extremely thoughtful post this weekend.
The politics of the deficit
Congress squawks about the horrible debt and then adds even more red ink.
Inflation concerns
The Bureau of Labor Statistics reported that inflation as measured by the seasonally adjusted consumer price index for all urban consumers rose only 0.1% in February (a 1.2% annual rate), down from 0.7% (an 8.4% annual rate) in January. Those who view the monthly CPI as the most important inflation indicator breathed a sigh of relief, perceiving the economy to have lurched from hyperinflation back to price stability within the space of 30 days.