The Fed is famous for raising rates prematurely, seeing ghosts of inflation. But there is no inflation on the horizon -- the bigger worry is deflation. In fact, the inflation rate is well below the Fed's own target of two percent. And the Fed is the only game in town. On balance, I think the opponents of a rate hike have the better argument. But consider for a moment that last assumption -- that the Fed is the only game in town. The larger issue, which is getting submerged in the great debate about raising rates, is that the Fed should not be the only game in town. With fiscal stimulus ruled out politically, pressure is on the Fed to be the sole engine of growth. Yet the central bank can only do so much.
Now is the time for Democrats to rally and speak in unison about the economic performance under this president, something Republicans orchestrate so well. While not stellar and considering we were on the brink of collapse, Obama's economic performance is praiseworthy.
"The state of North Carolina has come back even stronger," proclaimed Governor Pat McCrory during his State of the State address earlier this year. Millions of North Carolinians beg to differ.
Advocates for higher interest rates point to an improving job market as a sign that America has come back from the recession. But many activists, economists, and community groups know that raising interest rates now would stymie the many communities, particularly those of color, that continue to face persistent unemployment, underemployment, and stagnant wages.
Could marijuana legalization save the Puerto Rican economy? Right now, marijuana possession in Puerto Rico is a serious crime and first-time offenders are slapped with a felony, two to five years in prison and up to a $5,000 fine. But with legalized pot, Puerto Rico can use the tax revenues and fees it collects to help pay off the debt.
Nearly all of the Republican presidential candidates have been vociferous in their hatred of the Iran deal, and if a majority Republican Congress is elected in 2016, the Iran deal will probably have a short life -- if it has one at all.
Yesterday was a good day in the middle of a good month in what's turning into a pretty good summer. You know how it is -- moments melt into hours, in...
Lawmakers have failed to keep the wage apace with inflation so that its value is now less than it was five decades ago.
Digital technology has changed our world for the better, but the innovation that helps some rise also threatens to leave millions behind. As technology transforms our economy at a blinding pace, more and more people are being locked out of a job market increasingly dominated by the demand for computer skills.
The Greek referendum is actually a vote against monopoly capitalism that now pervades the globe and has impoverished the poor and the middle class for decades, while enriching the rich beyond imagination.
Part of investing in a new world is discovering exactly what those individuals love. Those countries and industries that are part of the migration of money from West to East will be blessed under the new dominion of China as the world's economic leader.
We could blame Ike for starting the Korean War, knock George W. Bush for not stopping the USS Cole bombing, accuse Bill Clinton of not stopping the L.A. Riots of 1992 or even blame Reagan for the 1980 recession. Or presidential candidates could learn to see when the job that they aspire to actually begins.
Economic growth dynamics vary across the region, broadly along North-South lines. While spring may be in the air for Mexico, Central America, and parts of the Caribbean, the economic climate remains decidedly chilly in much of South America. What is behind these divergent prospects, and how can a sunnier outlook be restored to the entire region?
Using data on economic recessions, I take a look at how long growth periods have been after recessions, and to see when the latest economic boom will likely come to an end. You're probably thinking "Economic boom? When did that take place?"
Both Piketty and Clark say that politics, not economics, will determine the future. However, the economy will certainly be a major focus of upcoming election debates in both countries. The real question is, will the electorates in the U.S. and the UK stage a revolt?
If the past teaches us anything, it is that each plan also carries with it is a legacy of being a hot topic during interesting times that eventually people forgot about or became too afraid to mention when the economy got moving again.