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| Joseph Stiglitz and Dean Baker: The Fed Should Wait and See Posted: September 12, 2022 at 06:11 AM (Monday) NEW YORK – With recent data showing that both inflation and inflation expectations have eased, it would be irresponsible for the US Federal Reserve to create much higher unemployment. Amid so much uncertainty, it should instead pause interest-rate hikes until a more reliable assessment of macroeconomic conditions is possible. The US ... | |
| Joseph Stiglitz and Dean Baker: Inflation Dos and Don’ts Posted: July 8, 2022 at 04:10 AM (Friday)NEW YORK – Today's inflation is driven largely by supply-side constraints, which call for supply-side solutions. Such measures would do as much to tame higher prices as limited increases in interest rates would, and they would not come at the expense of American workers and the broader economy. In the decades since the 1970s oil-price shocks ... | |
| Dean Baker: Biden's Covid Recovery Package Could Hinge on Tomorrow's Job's Report Posted: June 3, 2021 at 07:06 PM (Thursday)When the Labor Department released a disappointing employment report for April, it caught many economists by surprise. Most of us had predicted the economy had created around 900,000 jobs and forecast a drop in the unemployment rate of 0.2-0.3 percentage points. This seemed reasonable: Through March and April, most sectors of the economy ... | |
| Jared Bernstein and Dean Baker: Trump’s triple failure: Virus control, stimulus and the trade deficit Posted: October 12, 2020 at 08:26 AM (Monday)Given the precarious state of the economy, President Trump’s reckless decision to walk away from stimulus negotiations last week was a consequential act of political malpractice. He has since flipped and flopped on this by the hour, but his actions have been particularly rash, given his administration’s failure to even try to control the ... | |
| Jared Bernstein and Dean Baker: The coronavirus could wreck the economy. These steps would help limit the damage. Posted: March 2, 2020 at 06:00 AM (Monday)Though we don’t yet know the extent of its threat, a widespread coronavirus epidemic in the United States is increasingly possible. In addition to the downright scary health consequences, we think the virus will quickly do serious damage to the U.S. economy, reducing growth in at least the first half of this year, pushing up unemployment ... | |
| Jared Bernstein and Dean Baker: Reducing the health-care tax Posted: January 14, 2020 at 08:27 AM (Tuesday)One of most enduring, economically and socially damaging, downright frustrating facts about life in the United States is how expensive health care is here. Not only does U.S. health care cost far more than in other advanced economies, but compared with the nations that spend less, we have worse or equivalent health outcomes. In fact, U.S. ... | |
| Jared Bernstein and Dean Baker: Blame the policies, not the robots Posted: October 23, 2019 at 06:00 AM (Wednesday)The claim that automation is responsible for massive job losses has been made in almost every one of the Democratic debates. In the last debate, technology entrepreneur Andrew Yang told of automation closing stores on Main Street and of self-driving trucks that would shortly displace “3.5 million truckers or the 7 million Americans who work ... | |
| Jared Bernstein and Dean Baker: The strong dollar is hurting U.S. manufacturing. There's a lesson in there for the TPP. Posted: May 11, 2015 at 09:00 AM (Monday)In a recent reversal of a positive trend, the nation's factories have added almost no jobs on net over the past three months. Employment in the factory sector grew by more than 200,000 jobs last year, but in the past three months, it's up only 4,000. The number of total hours worked in the job market is also down over these past few months by ... | |
| Joseph Stiglitz, Dean Baker and Arjun Jayadev: Obama Versus Obamacare Posted: February 10, 2015 at 11:50 AM (Tuesday)The US Patient Protection and Affordable Care Act, President Barack Obama's signature 2010 health-care reform, has succeeded in extending insurance coverage to millions of Americans who would not otherwise have it. And, contrary to critics' warnings, it has not pushed up health-care costs; in fact, there is some hope that the cost curve ... | |
| Jared Bernstein and Dean Baker: The Unemployment Rate at Full Employment, How Low Can You Go? Posted: November 20, 2013 at 01:00 PM (Wednesday)A lot of people are talking about full employment these days. Lawrence Summers bemoaned its long-term absence at an important talk at the International Monetary Fund recently. Janet Yellen, nominated by President Obama to head the Federal Reserve, stressed that institution’s role in meeting the goal of full employment during her Senate ... | |
| Jared Bernstein and Dean Baker: Taking Aim at the Wrong Deficit Posted: November 6, 2013 at 07:48 PM (Wednesday)ASK most people in this city what the most important step is to increasing economic growth and job creation, and they’ll reply, “Reduce the budget deficit!”
They’re wrong. So-called austerity measures — lowering budget deficits while the economy is still weak — have been shown both here and in Europe to be precisely the wrong medicine. But ... | |
| Jared Bernstein and Dean Baker: What Is 'Seinfeld' Worth? Posted: July 31, 2013 at 10:00 PM (Wednesday)THE tinkering of federal government accountants is rarely newsmaking stuff. But after a few tweaks to the way the Bureau of Economic Analysis calculates the gross domestic product, those accountants have pulled off something seemingly remarkable: in the blink of an eye this week, they made the size of the American economy grow by $560 ... | |
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