“Shared Legislative Power: The One Rule Congress Must Change” J.P. McJefferson Thoughts Photo by Nick Fewings on Unsplash Congress is widely described as polarized, dysfunctional, and unable to solve the…

…chatter in the next few days as to whether the “Sahm Rule” has been triggered. It has not, because the 3 month average in the unemployment rate is 4.0%, and…

…re-election. Reagan had reintroduced us to the era of deficits as high as far as the eye could see, but inflation was finally tamed (whether you give credit to Volcker…

…question of the value of financial innovation, here. Volcker famously has commented that about the only financial innovation of the last century that was really worth anything was the ATM,…

Slowly moving back into everything, and so catching up with Mark Thoma’s use of Paul Volcker as his latest line of Defense of Giving the Fed More Regulatory Power. (Amusing…

…to an academic tax professor’s career to write about tax without at least giving nominal homage to efficiency theories. The Volcker panel, appointed by the Obama White House to think…

…as a Special Assistant to the President during the Clinton Administration. Summers – veteran of the Clinton Administration Geithner – veteran of the Clinton Administration Paul Volcker – veteran of…

…by Volcker’s second dose of tight monetary policy. While the FED’s response succeeded in reducing inflation, its dramatic reaction led to the 1982 recession and the FED’s subsequent easing of…

…real time. When real GDP dropped big during the Volcker recession, the equation above showed that potential real GDP did not budge much downward. The realization was that the economy…

…Paul Volcker and the Federal Reserve raised interest rates (see Chapter 4). Volcker recently reflected on these events in an interview with Martin Feldstein in the fall 2013 issue of…