The Department of Labor's December jobs report brought good news on the 223,000 nationally added jobs and a slightly lower unemployment rate. Best of all, for inflation fighters, although maybe not for workers who hope to get ahead of inflation, there was a 4.6% gain in wages, the smallest since mid-2021. The good news interpretation of ...

In all the hue and cry about the Federal Reserve's efforts to raise interest rates to quench the inflationary flames, not much has been said about how these higher rates are raising the Fed's own payments to banks for money held in reserve – to the tune of around $100 billion this year. This at a time when the Fed itself is apparently running ...

The Federal Reserve's encouraging September report on U.S. household wealth should bring some comfort to those concerned over American families' ability to deal with Fed efforts to corral inflation and the slowing economy that may follow. Consumers are sitting on a lot of wealth, including cash, even as slowing asset growth may gradually ...

In spite of this past week's warning by Federal Reserve Chairman Jerome Powell about the pain we will experience as central bankers worldwide work to bring down inflation, there are die-hard optimists still talking about soft landings and the return of the "just right" Goldilocks economy. I, too, am a congenital optimist, but am saddened to ...

By signing the Inflation Reduction Act of 2022 (IRA) into law, President Biden brought to fruition a major effort to confront climate change, health care costs, clean (and not-so-clean) energy development, minimum corporate income taxes and taxes on financial transactions engaged by some of America's wealthiest firms and individuals. By ...

With President Biden talking about employing the Defense Production Act to force petroleum companies to open the oil valves wider and produce more gasoline, we are reminded that there is no such thing as a government-provided outcome, environmental or otherwise, without cost. Consumer outrage at $5-per-gallon gas is evidently strong enough to ...

On March 21, the U.S. Securities and Exchange Commission (SEC) announced a major regulatory initiative that calls for listed firms to provide detailed data on environmental risks, including the performance of the firm itself as well as indirect effects that could include its suppliers and ultimate disposal of waste. In a sense, the SEC is ...

Few politicians are willing to admit deficit spending is the larger cause. News from the Bureau of Labor Statistics (BLS) that February's all-item Consumer Price Index (CPI) skyrocketed 7.9 percent on a year-over-year basis came as no surprise to American consumers. It was the largest increase since 1982 and followed increases exceeding 6 ...

"Capitalism without competition isn't capitalism; it's exploitation. Without healthy competition, big players can … charge whatever they want and treat you however they want." President Biden's cogent statement about the benefits of competition would make Adam Smith smile in his grave. What could be more obvious? When one or all of ...

The cost of interest on the national debt will soon be a huge chunk of change. Inflation is a hot topic now, with comments from Federal Reserve Chair Jerome Powell looking like veiled hints as to when (no longer if) the Fed will get serious about hitting the monetary brakes to slow the economy. Until recently, inflation was described ...

But the people in power won’t even say as much, let alone do something about it. News that the September Consumer Price Index (CPI) rose by 5.4 percent on a year-over-year basis should be evidence enough for Federal Reserve Chair Jerome Powell, White House economists, and even the president to admit that we have more than a temporary ...

Upward revisions of gross domestic product growth are the order of the day. In the last few weeks, we've seen Wells Fargo, the Wall Street Journal economists survey, and the Congressional Budget Office raise their 2021 growth forecasts for the United States to 6% or better. And now, the International Monetary Fund's April World Economic Outlook ...

Economic heavyweight Larry Summers' comments about the potentially harmful inflationary effects of Joe Biden's proposed $1.9 trillion stimulus package generated the type of pushback you'd expect from the new president's appointees, and also drew criticism from some other experts. Given the need to get the next move right, Summers is posing a ...

Word that President-elect Joe Biden will nominate Janet Yellen to be his secretary of the treasury should be taken as good news, both here and around the world. Having served as chairwoman, vice-chairwoman, and as a governor with the Federal Reserve Board, the head of the Council of Economic Advisers, and the president of the Federal Reserve ...

Although recounts and post-election anxiety dominate the news cycle, getting a second coronavirus stimulus bill to the congressional negotiating table still ranks near the top of the list of growing Washington concerns. As we debate how to hatch a meaningful federal response, let's remember that something more than money is needed. ...

With the novel coronavirus and the disease it causes, COVID-19, spreading and people worldwide seeking ways to guard against its consequences, government leaders at every level are scrambling to take action. Although it is a minor concern relative to the immediate public health concern, a serious question remains regarding the longer-run ...

The relationship between presidents and central bankers is perhaps stormy at best. Politicians who hope to keep their jobs prefer low interest rates and plenty of money to pass along to their constituents, especially just before elections. Central bankers, on the other hand, worry about price stability and long-term economic growth, not ...