Robert Kuttner

Robert Kuttner is co-founder and co-editor of The American Prospect, as well as a distinguished senior fellow of the think tank Demos. He was a longtime columnist for Business Week and continues to write columns in The Boston Globe. He is the author of Obama's Challenge and other books.

Recent Articles

Enter Yellen

AP Images/Eugene Hoshiko

With President Obama’s belated decision to name Janet Yellen to chair the Fed, several questions arise.

First, is Yellen likely to be confirmed? Almost certainly. The Republicans have lost a lot of public support by shutting down the government and playing chicken with the debt ceiling. They are not likely to trifle with the one functioning branch of government. Despite the Republicans’ intermittent uses of the filibuster, I’d be surprised if they went to the barricades to block Yellen.

Budget Roulette: The Uncertain End Game

AP Images/Carolyn Kaster

This budget crisis, weirdly, has nothing to do with the budget. It is the expression of the Tea Party Republicans’ animus against Obamacare, their general loathing of government, and their willingness to resort to wildly destructive tactics. As Senate Majority Leader Harry Reid, one of the few heroes in this mess, put it so aptly, “They’ve lost their minds.”

Obama’s Foreign-Policy Realism

AP Images/Meisam Hosseini

President Obama’s attempted rapprochement with Iran and Syria takes him full circle, back to the Obama of the 2008 campaign and the Obama who was (prematurely) awarded the Nobel Peace Prize. Evidently the U.S. is now willing to foreswear the use of force if these still-nasty regimes will give up weapons of mass destruction. It’s both a remarkable shift, and a low bar.

The Fed Stays the Course

AP Photo/Susan Walsh

Financial markets rallied when the Federal Reserve defied the rumor-mongers and resolved to continue its program of keeping interest rates very low until the unemployment rate improves. There was only one dissenting vote on the Fed’s policy-setting open market committee.

What’s going on here? Ever since the run-up to the collapse of 2008, what’s good for Wall Street hasn’t exactly been good for the rest of the economy. Are these ultra-low interest rates just pumping up more financial bubbles, as critics fear? Or does a still weak economy need this form of stimulus?

Think of it this way. There are risks to continuing a policy of very easy money, but premature tightening would be even worse.

Shutdown Report: How to Play Chicken and Lose

AP Images/J. Scott Applewhite

Republicans are likely incur serious political damage in their effort to hold hostage continued funding of the government in exchange for deep spending cuts. This routine has become an annual ritual, and in the past President Obama has been the first one to cave. The 2011 Budget Control Act, which includes the automatic sequester, is one bitter fruit of the president’s past failure to hang tough in the face of Republican extremist demands.

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