In the wake of the pre-holiday meltdown in the financial markets, I thought for a few minutes about who would be doing crisis management, especially after SecTreas Mnuchin’s ham-fisted attempt to calm the markets. My musings did not calm my nerves. Consider the January 2009 team and the (likely, barring further dismissals) January 2019 team, and you’ll see what I mean.
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“Top US Economist Stephen Moore: … Powell Should Resign”
Look no further for the source of Mr. Trump’s economic proclivities. The entire article title: “Top US Economist Stephen Moore: Time for New Pilot at the Fed – Jerome Powell’s Policies Are Disastrous – Powell Should Resign” (12/19):
Comey, Cohn, Sessions,… Powell?
From Bloomberg, tonight:
Continue readingYear in Review, 2018: Readers’ Suggestions?
Last year’s review was subtitled “Fighting against the Normalization of Lying”, with entries on Stephen Moore’s estrangement from the truth, Ironman’s misunderstanding of consumer surplus, and Donald Trump’s confusion over debt vs deficits, among others.
Put in suggestions for this year (preferably from the Econbrowser archives or comments); some candidates: the oil embargo of 1967 , recession in California , the miracle of Wisconsin’s manufacturing revival since the tax credit (hint: there is no miracle) , or how we won the trade war with China before the leaves fell .
Imminent Yield Curve Inversions?
Around the world, some 10 year-3 month government bond yield spreads are shrinking.
President’s Statement on the Death of Seven Year Old Migrant in CBP Custody
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Guest Contribution: “The Lesson from George H.W. Bush’s Tax Reversal”
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version appeared in Project Syndicate on December 10th.
Farm PPI and Prospects for the Farm Sector
The PPI for farm products was released yesterday.
Guest Contribution: “Monetary Policy under Data Uncertainty”
Today, we are pleased to present a guest contribution by Saiah Lee, Ph.D. candidate in economics at UW Madison.
History, Facts, All that Jazz
Bruce Hall writes:
…the oil “shortage” crises in the U.S. was pretty much a political phenomenon of the West supporting Israel during the 1967 war (which party was in power then?) and being boycotted by the Arab countries.