The major source of inflation was supply bottlenecks that are already subsiding for reasons unrelated to Fed rate hikes.
stimulus
Posted inEconomic Policy
Learning the Right Lessons From Recent Inflation
Why macroeconomic overheating was not the problem and austerity is the wrong cure.
Posted inTransportation
The FTC Banned an Unfair Practice. The Department of Transportation Can, Too.
DOT has the same statutory language to effectively ban deceptive flight cancellations, the way the FTC has banned noncompete agreements.
Posted inTransportation
Pete Buttigieg’s Feeble Policy on Flight Cancellations
The transportation secretary could be doing far more with his existing authority. The new DOT rule could make matters worse for consumers.
Posted inEconomic Policy
Why Is Larry Summers Engaged in Science Denial About Inflation?
It could be his conflicts of interest.
Posted inEconomic Policy
The Federal Reserve Is Hiking Too Fast
Inflation is mostly not caused by spending, and the Fed will have no help if it causes a recession.
Posted inEconomic Policy
Economic Stimulus Works
Obama’s undersized stimulus in 2009 doomed America to an economic lost decade.
Posted inEnergy and the Environment
Oil Company Profit-Gouging Began With the CARES Act
The benefits fossil fuel companies derived from COVID relief created the dynamic in the industry we see today.
Posted inWorking in America
How to Stop Restaurant Workers From Quitting
Dumping the subminimum-wage standard ($2.13 an hour?!) they labor under would certainly help—and now may be more politically possible.
Posted inPolitics
Democratic Inaction Will Lead Us Back to Austerity
Fiscal policy has reverted negative right when omicron is surging, and the Democrats are uncertain about where to turn for political success.