In persisting with its high rates policy, the Fed is acting like James Dean in the famous “chicken run” auto race in Rebel Without a Cause.
The real source of too many price hikes is concentrated market power, not macroeconomic overheating.
Women rock the world
From trade wars to border policy, Trump’s plans if he wins the presidency again are set to make the U.S. economy far worse for working people.
Those who believed inflation would be transitory were proven right, and those who demanded the sacrifice of mass unemployment proven wrong.
Since President Biden took office, the media have run a constant stream of news stories about how high various prices were and telling their audiences that this has led to mass suffering.
Leading economists' misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures. Either mainstream economists need to re-examine their core beliefs, or the profession needs a new mainstream.
Increased militancy after pandemic sacrifices and tighter labor market contributed to impressive contract deals in the last year.
The Biden administration is getting bad data and bad advice — but there’s a way out.
The Fed’s pursuit of its 2% inflation target will slow economic growth, repress wage gains, make almost everyone’s job less secure, and put us at risk for a recession.
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