Economics & Global Affairs

383 Items

Federal Reserve Chairman Jerome Powell (L) speaks at a conference about the Fed's planned interest-rate strategy, June 4, 2019.

Kiichiro Sato (AP)

Analysis & Opinions - The Washington Post

It's Tempting for the Fed to Move Slowly. That Would Be a Grave Error.

| June 04, 2019

The Federal Reserve will over the next several months make monetary policy decisions that are as consequential as any it has made since the financial crisis and Great Recession of 2007-2008. The temptation in a highly uncertain and politicized environment will be to move cautiously. Yet this would be a grave error in the current context, where a recession could be catastrophic and the odds of one beginning in the next year, while still less than 50-50, now appear significant and increasing.

Sen. Marco Rubio, R-Florida, speaks at a Senate Intelligence Committee hearing, January 29, 2019.

Jose Luis Magana

Analysis & Opinions - The Washington Post

What Marco Rubio Gets Wrong - And Right - About the Decline of American Investment

| May 31, 2019

Senator Marco Rubio, R-Florida, has recently claimed that the worrying decline of private investment in the American economy can be attributed to "shareholder capitalism" and "short-termism". In this co-authored op-ed, economic specialists Lawrence H. Summers and Anna Stansbury share their thoughts on whether and why this is the case.

Blog Post - Views on the Economy and the World

Moore on Gold and Commodities

| May 01, 2019

A century ago, the gold standard was considered a guarantor of monetary stability.  That golden era is long-gone.  (If it every really existed at all.  The general price level fell 53% in US and 45% in the UK during 1873-1896 due to a dearth of gold deposit discoveries.)

Continuing my thoughts on the Fed candidacy of Stephen Moore: he has said several times that he favors a return to gold.  In true Trumpian fashion, he recently denied having said it despite the clear video evidence.

Blog Post - Views on the Economy and the World

Moore Troubles for the Fed

Apr. 30, 2019

Of the two men whom Donald Trump had intended to nominate to empty seats on the Federal Reserve Board, Herman Cain has now withdrawn his name.  This leaves the other one, Stephen Moore.

The Senate would have to decide whether to confirm Moore. He has some problems roughly analogous to Cain’s:  he is considered to be under an ethical cloud and he often gets his economic facts wrong.  Cynics might respond that he would thereby fit right in with the roster of Trump nominees throughout the government.  But Trump’s earlier appointments to the Fed have been people of ability and integrity and have been doing a good job, Chair Jerome Powell in particular. Perhaps Trump did not start paying attention to Fed appointments until recently.

 

 

Windfall, by Meghan O'Sullivan

Simon & Schuster

Analysis & Opinions - LinkedIn

Energy Abundance and the Environment: An Interview with Meghan L. O’Sullivan, Part 2

    Author:
  • Scott Nyquist
| Apr. 03, 2019

The subtitle tells the story. In the early 2000s, many pundits and politicians talked up “peak oil”, “energy scarcity,” and all that. In a geological heartbeat later—about a decade—the world had entered an era of “energy abundance,” largely due to innovations that allowed producers to crack into shale formations to release massive new sources of oil and gas. The United States has gone furthest and fastest in fracking and is setting records for oil and gas production. For the US, says O’Sullivan, this has been an economic, strategic, and environmental game-changer. For the rest of the world, the effects are more differentiated but hardly less profound.

Windfall, by Meghan O'Sullivan

Simon & Schuster

Analysis & Opinions - LinkedIn

What energy abundance means for geopolitics: An interview with Meghan L. O’Sullivan, part 1 by Scott Nyquist

    Author:
  • Scott Nyquist
| Mar. 26, 2019

The subtitle tells the story. In the early 2000s, many pundits and politicians talked up “peak oil,” “energy scarcity,” and all that. In a geological heartbeat later—about a decade—the world had entered an era of “energy abundance,” largely due to innovations that allowed producers to crack into shale formations to release massive new sources of oil and gas. The United States has gone furthest and fastest in fracking and is setting records for oil and gas production. For the US, says O’Sullivan, this has been an economic, strategic, and environmental game-changer. For the rest of the world, the effects are more differentiated but hardly less profound.

U.S. dollars and coins lie strewn outside a tip jar in New York City, September 6, 2017.

Mark Lennihan (AP)

Analysis & Opinions - The Washington Post

The Left's Embrace of Modern Monetary Theory is a Recipe for Disaster

| Mar. 04, 2019

The old adage still holds true, Lawrence Summers argues: there isn't any such thing as a free lunch. And although Modern Monetary Theory may be increasingly in the public eye, this doesn't change the fact that there are a number of glaring issues with it.