The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in October on a seasonally adjusted basis, the U.S. Bureau of Labor S...
No one knows how tomorrow's October jobs report will affect Federal Reserve policymakers' views about whether to start raising interest rates in December. But here are some things to consider in assessing whether the job market is making the "continued progress toward maximum employment" that the Fed wants to see.
One month after the economy began to collapse in September 2008, the Bernanke Fed started paying private banks for their excess reserves that they are not required to hold.
Even former Fed Chair Ben Bernanke has been irked by right wing conservatives for doing just the thing that most conservative economists, such as Martin Feldstein, and even arch-free market theorist Milton Friedman, said was the right thing to do during recessions--inject more money into the economy.
On December 11, the UN Climate Change conference in Paris (called COP-21) will be wrapping up, and the headlines will announce if the negotiators were able to agree to save the Earth or not. Todd Stern, the U.S. State Department's Special Envoy for Climate Change, will be leading the U.S. delegation at COP-21.
In a speech last week, Federal Reserve Board Chair Janet Yellen inadvertently told us why Congress should set a 4 percent unemployment target for the Fed in its conduct of monetary policy, as is proposed in a new bill put forward by Michigan Representative John Conyers. The context was Yellen's dismissal of such a target. Certainly the Federal Reserve Board cannot just pick any number and say it will get the unemployment rate to that level. There are limits posed by the economy that can prevent the Fed from hitting an unemployment rate target despite its best efforts. However, this is also true of the 2.0 percent inflation target that the Fed has chosen for itself as a basis for policy over the last decade. But the fact is that the Fed cannot simply set any inflation rate it likes.
I blog about how to have "aha" moments in your journaling and reflections so you can not only make a difference with your personal chit chat, but you can also make a mark with our public and professional conversations.
Wages are rising, finally, and prices are not--a rare confluence in recent decades. American workers need this to continue as long as possible. So do their bosses, in fact, because workers are the consumers that drive economic growth and thus corporate profits.
Couple this with the disappointing jobs growth numbers from September 4, and it is not unreasonable to expect that there is still room to push towards the twin goals of maximum employment and price stability. A premature rate hike could run the risk of halting that process.
Their policies have to maximize the purchasing power of consumers that power most economic growth. If consumers can't or won't spend more, then our economy can't grow as it should.
What America needs is empowered citizens. We need more jobs; we need to pay the hardworking employees a fair wage. We need enough income flowing that adequately rewards the value workers create to help better educate all our children.
You know, Hillary, I know these rules won't work every time. But I believe adopting them will keep your spirits up, and show women voters what they want in their woman POTUS.
Put away your drachmas and plane tickets to Tehran, and take our latest Week to Week news quiz to see how much you know about the week's big events. ...
A coalition of California community groups and a local legal aid agency have come up with a novel way to hold a major LA area bank accountable for the devastation it has caused Southern California communities as a result of its risky and predatory practices.
The correct policy for the Fed is to slowly reduce interest paid to banks on their excess reserves and carefully raise interest targets on the federal funds rate if the growth rate of U.S national income continues to follow the IMF predictions of 2.5 percent this year.
I am reading "Daniel Patrick Moynihan, A Portrait in Letters of an American Visionary" edited by Steven Weisman. It is a good title because Moynihan was indeed a visionary.