The federal government is careening toward a shutdown as soon as Saturday night. Why is this happening so soon after Republicans and Democrats were supposed to have resolved their fiscal differences during the debt ceiling drama less than four months ago? The short answer: because the hard-right Republicans decided to ignore that agreement. In the […]
As expected, the Federal Reserve left interest rates unchanged on Wednesday and also as expected, signaled that at least one more rate increase may be in the offing. But amidst continuing economic strength and inflation still well above the central bank’s 2% target, the Fed also indicated that rates are likely to remain higher for […]
Absent a surprise, the United Auto Workers are likely to strike one or more of the U.S. car companies at 11:59 pm, the latest in a string of labor actions. What has been going on with organized labor in the U.S. and why? After many quiescent years, working days lost to strikes have […]
Why have Republicans stuck so closely to Donald Trump, his four indictments and other failings notwithstanding? One theory, advanced in a recent Wall Street Journal article, is that our politics have become more tribal, more partisan, and far angrier. The data provides support for this notion. For starters, over the past five decades, Americans have […]
Donald Trump’s multiple indictments and other legal challenges have had interesting consequences for his campaign fundraising and expenditures – and his standing with voters. The former president’s initial indictment in Manhattan triggered a huge surge in Google searches and a commensurately large increase in donations. His single most lucrative day was the day that he […]
The Fed Hikes, Again July 27, 2023 By STEVEN RATTNER As expected, the Federal Reserve yesterday both increased interest rates by 0.25% and signaled a “wait and watch” approach to any further rate. The decision comes as inflation has retreated, even as jobs and overall economic growth has remained stronger than many expected. : Wednesday’s […]
Yesterday, for the first time in more than a year, the Federal Reserve Open Market Committee, which sets the nation’s benchmark interest rate, voted not to raise interest rates at a regular meeting. But that doesn’t mean the cycle of rising interest rates is over; it simply signals that the central bank is taking a […]
The economy continues to grow, unemployment is near historic lows and the stock market has shown surprising strength. So why are Americans still so grumpy? The unhappiness on the part of most Americans with the state of the economy and the country has reached shocking proportions, a development that has unfolded over several decades. One […]
As the deal between House Speaker Kevin McCarthy and the Biden White House over raising the debt ceiling inches toward approval, let’s take a look at the scoreboard and see who won and who lost. (Hint: Democrats should be happier than Republicans.) But despite the hard fighting, the deal only slightly reduces the nation’s large […]
It’s rare to see a change in government policy produce a quick response in the private sector, but that’s what’s happening with the Inflation Reduction Act and, more specifically, with its provisions to spur a transition to cleaner energy in order to minimize the warming of the planet. Nonetheless, Republicans are still trying to limit […]
