“Governance in an Emerging New World,” an initiative by the Hoover Institution, launched on Wednesday with the aim of promoting discussion and thinking on the governance challenges posed by rapid demographic, technological and societal change around the globe. The first panel in the series, moderated by Deputy Director-General of the International Institute for Strategic Studies (IISS) Kori Schake, considered these issues with regard to Russia.
In late December 2017, Congress passed the Tax Cut and Jobs Act of 2017. A key part of the law lowered the tax rate for both traditional corporations and pass-through entities like S-corps. With so many important issues facing the country why was Congress focused on the corporate tax rate?
Rather than wage a trade war against China, the United States should join other countries to pressure China to open its markets and stop its theft of intellectual property, says Lee Ohanian, an economist at the Hoover Institution.
Why are ordinary folks willing to spend $13.50 for a mug of beer, and why are the grandees of global business willing to drop half a million for a “strategic partnership” with the World Economic Forum? The answers are not so far apart.
On the way up to Hoover early this morning to do the CNBC interview (it didn’t happen because a traffic accident on Highway 17 slowed me down by half an hour), I caught up on phone calls with long-distance friends. One of them had a story about his employees that’s worth sharing. It illustrates part of what I probably would have talked about in my CNBC interview.
Despite an optimistic outlook on the national economy by Fed Chairman Jerome Powell, Harvard economist Martin Feldstein warns that the situation isn’t as good as it seems. In an interview with Fox Business, he said that the 10-year Treasury bond yield, now at its highest since May, could cause a “real challenge” for equity prices, and that could harm consumer spending. He added that if a recession were to occur, the Fed would not be able to offset it due to a low federal funds rate.