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Euro Banknotes
In the News

ECB Vows To Hold Rates At Historic Lows Until At Least Early 2020

quoting Melvyn B. Kraussvia Irish Times
Thursday, June 6, 2019

The European Central Bank has said it expects to keep rates on hold at record lows until the middle of 2020 as policymakers grapple with mounting concerns about weak inflation.

In the News

Taylor’s Rule: Too High, Too Low – Where Should Interest Rates Go?

featuring John B. Taylorvia Biz News
Thursday, June 6, 2019

Taylor’s Rule is an interest rate forecasting model invented by John Taylor in the early 90s. And according to Investopedia “it’s a proposed guideline for how central banks should alter interest rates in response to changes in economic conditions.” In South Africa, the Reserve Bank’s mandate is very topical at present, which in turn sets up a discussion around interest rates. SARB’s current mandate is tailored around a targeted inflation band of 3-6%, with the repo rate currently at 6.75%. 

Green Energy
In the News

Revisiting The Old New Deal

quoting Lee Ohanianvia Washington Examiner
Wednesday, June 5, 2019

When Alexandria Ocasio-Cortez and her allies proposed a new stimulus package to take on climate change and income inequality, they called it the Green New Deal. Their reasoning for the economic program’s name is obvious. It pays homage to the New Deal, a bundle of transformative economic reforms captained by President Franklin D. Roosevelt during the Great Depression. Like the original New Deal, the Green New Deal includes massive government intervention in the American economy through more spending, regulation, and taxes.

In the News

Are US Households Losing The Trade War?

quoting Robert E. Hallvia Chicago Booth Review
Wednesday, June 5, 2019

Over the course of 2018, the Trump administration imposed tariffs on approximately $283 billion of US imports, with rates ranging between 10 percent and 50 percent. In response, US trading partners, especially China, retaliated with tariffs averaging 16 percent on approximately $121 billion of US exports.

In the News

Chase Says Arbitration ‘Provides Better Outcomes’ For Consumers. Nope, Say Researchers

quoting Amit Seru via The Los Angeles Times
Wednesday, June 5, 2019

JPMorgan Chase is notifying more than 40 million credit card holders that from now on they’ll have to arbitrate any disputes, forgoing the option of filing a lawsuit or joining class-action suits. Although an opt-out is possible (but difficult), this places Chase alongside many other businesses insisting arbitration is a better alternative for consumers than litigation.

In the News

The US Is Missing Its Chance To Fix Our Election System Before We Vote In 2020

quoting Michael McConnellvia Raw Story
Wednesday, June 5, 2019

As 2020’s elections edge closer, recent troubling developments are casting new light on an old question—what will it take for the results to be trusted?

In the News

American Foreign Policy Adrift

quoting George P. Shultzvia Foreign Affairs
Wednesday, June 5, 2019

In a May 11 speech at the Claremont Institute in Beverly Hills, entitled “A Foreign Policy from the Founding,” U.S. Secretary of State Mike Pompeo quoted John Quincy Adams to explain how Donald Trump’s foreign policy is grounded in a “realism” that eluded his predecessors, particularly George W. Bush and Barack Obama. Adams, then Secretary of State, wrote in 1821 that America “goes not abroad in search of monsters to destroy. She is the well-wisher to the freedom and independence of all.”

In the News

Fed's Dot Plot, QE, Average Inflation: Fed Conference Takeaways

quoting John B. Taylorvia Bloomberg
Wednesday, June 5, 2019

The Federal Reserve wound up its two-day framework conference on Wednesday with little consensus on what can be done to better prepare for the next big recession.

In the News

Three Cheers For A Two-Eyed Economist

featuring Raghuram Rajanvia The Washington Times
Tuesday, June 4, 2019

Harry Truman famously remarked that he wished he could find a one-armed economist since all the ones he had to deal with were constantly weasel-wording their advice with “on the one hand” and “on the other hand.” As one who routinely had to read and try to squeeze meaning out of the verbiage of White House economic advisors as a speechwriter for presidents Nixon, Ford and Reagan, I know exactly how Truman felt.

The Third Pillar: How Markets and the State Leave the Community Behind

by Raghuram Rajanvia Books by Hoover Fellows
Wednesday, June 5, 2019

Raghuram Rajan, distinguished University of Chicago professor, former IMF chief economist, head of India's central bank, and author of the 2010 FT-Goldman-Sachs Book of the Year Fault Lines, has an unparalleled vantage point onto the social and economic consequences of globalization and their ultimate effect on our politics. In The Third Pillar he offers up a magnificent big-picture framework for understanding how these three forces--the state, markets, and our communities--interact, why things begin to break down, and how we can find our way back to a more secure and stable plane. 

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Economic Policy Working Group

 
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple