Notwithstanding nine rounds of interest rate increases, and amidst continued expectations for a recession later this year, the American economy continues to move forward, adding jobs even as inflation remains stubbornly high. But that persistent economic strength has also brought with it some surprisingly positive attributes. Wednesday’s inflation data was generally in line with expectations. […]
As expected, the Federal Reserve raised interest rates by 0.25% on Wednesday, the latest in a string of increases that has brought the benchmark rate from near zero a year ago to the current range of 4.75% to 5%. But following a string of crosscutting economic and financial developments, the path to today’s decision was […]
The Consumer Price Index for February came in a bit stronger than economists had expected, but recent bank failures have complicated the Federal Reserve’s job and raised questions about what the central bank’s policy committee will do when it meets next week. In February, prices rose by 6% compared to a year earlier, but with […]
President Biden unveiled his 2024 budget on Thursday and while the plan has no chance of being enacted by a divided Congress, it provides a useful point of comparison to Republican ideas that have been mooted in recent weeks. (While the Republicans have yet to release a formal budget proposal, the Republican Study Committee, which […]
China has been hinting at sending military aid to Russia and President Biden has been responding by threatening “serious sanctions” if China did so. But, realistically, it’s not clear what we would – or could – do to punish China, given how intertwined our two economies are. China’s rise as our largest trading partner has […]
Rep. Marjorie Taylor Greene garnered headlines this week when she repeated calls for a national divorce. But she is not alone in that view. A 2021 poll found, for example, two-thirds of southern Republicans in favor of such a split. Another poll, later that same year, had 52% of Trump-voters in favor. What Ms. Greene […]
While most of the developed world (notably, the United States) displays continued economic growth, Great Britain continues to lag, with a mix of villains behind its poor performance. Covid and inflation notwithstanding, every other major country has been able to eke out at least a modicum of economic growth since the pandemic struck […]
Last Friday’s extraordinary jobs report was just the latest in a string of recent data that show a strong economy, including signs of moderating inflation. In addition to the good news on jobs, the most recent report on overall economic activity showed that real gross domestic product grew at a 2.9% annual rate in the […]
Important news that has received little attention: Enrollments in the Affordable Care Act exchanges have been rising sharply and the number of Americans without insurance have been falling commensurately. After a strong start under President Obama, the number of Americans buying their insurance through ACA exchanges flatlined during the Trump administration, as Trump did his […]
House Republicans have declared themselves ready to take a stand against the federal government incurring more debt, borrowings that are used to finance the large deficits that Washington incurs every year. But raising the limit on borrowing – known as the “debt ceiling” – has been regular occurrence for many decades, regardless of which party […]
