National Trade Council Director Peter Navarro writes in the WSJ:
The national-security argument that trade deficits matter begins with this accounting identity: Any deficit in the current account caused by imbalanced trade must be offset by a surplus in the capital account, meaning foreign investment in the U.S.
That’s the title of an article in Bloomberg yesterday.
“I remain concerned, particularly in an environment where you’re talking about cutting the budget, that a victim in that exercise could be the production of good data,” Glenn Hubbard, who served as chairman of President George W. Bush’s Council of Economic Advisers from 2001 to 2003, said Monday in Washington.
I know this is exactly the same title as this December post, but it still applies. The comparison to its neighbor Missouri throws in sharp relief the enormity of the Kansas catastrophe.
As the Administration contemplates deep cuts to scientific data acquisition, and deleting or restricting public access data sets, I thought it useful to post the global temperature anomaly data, accessible as of today, before it disappears.
The Administration rolled out a new trade strategy yesterday (The President’s 2017 Trade Policy Agenda, part of this document). Like many things the Administration has put forward, it is heavy on rhetoric, light on policy specifics. That being said, if the Administration pursues a trade agenda that invites trade retaliation, while implementation of stimulative macro policies (e.g., infrastructure investment, tax cuts) are delayed, then we may very well get an economic slowdown before a boom.
Not an economics post, but I cannot resist.
Well, given the trilemma, and limits to capital control efficacy, it’ll mean more PBoC decumulation of US Treasurys, and holding all else constant, higher long term interest rates.
Today we are pleased to present a guest contribution written by Jason Brown, Senior Economist and Regional Executive at the Federal Reserve Bank of Kansas City. This post is based on the article by the same title. The views expressed are those of the author and do not necessarily reflect the positions of the Federal Reserve Bank of Kansas City or the Federal Reserve System.
Today we are pleased to present a guest contribution written by Geert Bekaert (Columbia University) and Arnaud Mehl (ECB). This post is based on the paper by of the same title. The views expressed are those of the authors and do not necessarily reflect those of the ECB or the Eurosystem.
President Trump is upset that the media missed this economic event:
“The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo”