Today on TAP: Fed Chair Jerome Powell is sabotaging a rule requiring stronger capital standards for banks—that he pretended to support.
Federal Reserve
Posted inEconomic Policy
A Public Option for Credit Card Shopping
The Consumer Financial Protection Bureau is taking aim at pay-to-play credit card comparison websites that collude with big banks to block competition.
Posted inEconomic Policy
Capital One–Discover Merger Tests Bank Regulators’ Merger Approach
Regulators have dragged their feet on new bank merger guidelines. They now have a $35 billion reason to get moving.
Posted inEconomic Policy
Why Were Inflation Hawks Wrong?
Economists like Larry Summers predicted that bringing inflation down would require a large increase in unemployment. It didn’t.
Posted inTAP
Jay Powell’s Victory Lap
Today on TAP: Does the Fed deserve credit for the strong economy? Will our central bankers screw it up by waiting too long to cut rates?
Posted inEconomic Policy
The Bankers’ Front Groups Fighting Tougher Capital Rules
It’s understandable that Wall Street wants weak rules. Why are so many community groups serving as the banks’ echo chamber?
Posted inTAP
Is the Good Economic News Good for Biden?
Today on TAP: Yes, if the president plays it astutely. But other factors could matter more.
Posted inEconomic Policy
Time for a Victory Lap?
Those who believed inflation would be transitory were proven right, and those who demanded the sacrifice of mass unemployment proven wrong.
Posted inEconomic Policy
Q&A: Arin Dube on the Benefits of Full Employment
The UMass professor details a reduction in wage inequality unseen in the U.S. in half a century.
Posted inMoney, Politics, and Power
Corporate Headhunters Shouldn’t Control Who Can Be a Fed Reserve Bank President
We need a democratic process for appointing leaders of regional Fed banks.