A focus solely on near-term GDP overlooks what’s being attempted.
Federal Reserve
Posted inTAP
Memo to Jay Powell: Quit While You Are Ahead
Today on TAP: The May inflation report was sublime. Time to start cutting interest rates.
Posted inTAP
More Reasons for the Fed to Relent
Today on TAP: But don’t bet the farm on a saner monetary policy.
Posted inTAP
The Silver Lining in the Latest Bank Panic
Today on TAP: The run on regional bank stocks will bring tighter regulation and lower interest rates.
Posted inMoney, Politics, and Power
The Fed, the Supreme Court, and Their Legitimacy
The government’s least democratic branches are incompetent and corrupt because they are unaccountable. James Madison would not be surprised…
Posted inEconomic Policy
Fed Report on Silicon Valley Bank Confirms Its Supervision Arm Shouldn’t Exist
The supervisors knew exactly what was happening at the bank, and were institutionally incapable of acting. This isn’t an isolated incident.
Posted inTAP
The Economy Is Still Doing Well
Today on TAP: But a weakened banking system, coupled with a Fed that is hawkish on rates but kind and gentle on financial regulation, could be the economy’s undoing.
Posted inTAP
Will the Fed Wreck an Improving Economy?
Today on TAP: Both the inflation and the employment outlook continue to improve.
Posted inEconomic Policy
Rise of the Climate Rating Agencies
Government and the private sector rely increasingly on risk-modeling firms that claim they can zero in on exposure to climate change.
Posted inEconomic Policy
Federal Reserve Independence Is the Problem
A weird, secretive, and unaccountable institution organizes our society, and nobody wants to talk about it.
