Instead of giving in to cynicism, Congress created an agency to protect consumers. The Supreme Court declined to overrule it.
Federal Reserve
Posted inEconomic Policy
Why Auto Insurance Rates Are Out of Control
The factors are partly structural, but also have to do with a corporate drive for profits and use of technology to precision-target customers.
Posted inTAP
Inflation, Misguided Economics, and the Fed
Today on TAP: Once again, mainstream analysts and Fed economists miss the real story in the latest inflation numbers—which is hidden in plain view if you bother to look.
Posted inTAP
How the Fed Keeps Getting Inflation Wrong
Today on TAP: More than 400 economists work for the Federal Reserve Board. Far too many are intimidated by the echo chamber of bad economics created by Chair Jay Powell.
Posted inEconomic Policy
TSMC Chips Deal Promotes the Logic of Biden’s Industrial Policy
It rebuts the idea that a lack of skilled U.S. workers is an impediment to manufacturing growth.
Posted inEconomic Policy
The Connection Between Jobs and Housing
The good news/bad news story in the Economic Report of the President
Posted inTAP
A Capital Crime
Today on TAP: Fed Chair Jerome Powell is sabotaging a rule requiring stronger capital standards for banks—that he pretended to support.
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.