Additional nontechnical information on tariffs in the United States EconoFact: Tariff Payback Tariff Payback This week, the Trump administration began accepting requests for refunds of more than $166 billion in tariff payments following the Supreme Court’s February ruling: “the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs.” Who Benefits: But while the refunds […]
– by New Deal democrat This week the normal empty period for new data after the monthly jobs report is of course compounded by the government shutdown. There is no noteworthy new private data coming out until Thursday, so don’t be surprised if I play hooky tomorrow. But today let me follow up on some macro […]
– by New Deal democrat Our data drought won’t end until next Tuesday. In the meantime, let me follow up on a theme from my analysis of the economic data from last week. To wit: there are several metrics that I have already stated are worth a “recession watch;” namely, housing units under construction (down almost […]
Since the beginning of the Covid epidemic, the US economy has performed better than European economies and the Eurozone average. This comparison is useful, and not just for boasting rights. Fiscal policy in the USA and in the Eurozone has been dramatically different – The US Federal Government implemented Six very large fiscal stimuli: The […]
The big lie about immigration, promoted by the GOP and its right-wing propaganda outlets, is that under Biden the US has had “open borders.” LOL! Nowhere close. And the US hasn’t had open borders at least since the Chinese Exclusion Act of 1882 that prohibited all immigration of Chinese laborers for ten years. The law […]
This article can not get any easier to read and explain how the economy survived a pandemic from 2020 onward and even into 2024. With the right actions by a president and supported by a Congress, the nation survived and it grew. In summation? The “economy has had a remarkable four-year run, judged against both […]
This quote has a number of meaning perhaps. Jay offers one in the form of a question…and more from Bill Black in an interview: The real news BARACK OBAMA, U.S. PRESIDENT: Thanks to the grit and determination of the American people, we’ve cleared away the rubble of the worst economic crisis in our lifetimes. So […]
I’m still in catch-up mode, but I keep coming back to this presentation (PDF)—four times now. It’s a speech by BoJ member Masaaki Shirakawa in Tokyo on the 22nd of December last year to the Board of Councillors of Nippon Keidanren (Japan Business Federation), entitled “Globalization and population aging – challenges facing Japan.” Go through […]
By Rebecca Wilder This Is What You Get When Policy Makers Become Complacent The prospects for domestic demand in the US are not bright. The labor market barely generates jobs and fiscal policy is a drag. Americans are consuming; but there’s unlikely sufficient nominal income growth to stabilize consumption expenditure growth at current levels. We’ve […]
From my email (with formatting lost): Ask the Experts: What’s Next for the Economy? It’s a big week for the American economy. President Obama announced his plans to reduce the deficit on Monday, and Wednesday afternoon the Federal Reserve announces its new plan to boost growth. Do these proposals make sense? And what do they […]