Newsletter: A monthly brief of new insights on important economic, financial and policy issues.
President Trump’s first week in office was marked by a blast of executive orders; revisions in the permanent National Security Council membership with the addition of Steve Bannon and the relegation of Chairman of the Joint Chiefs of Staff, General Dunford, and National Intelligence Director designee, Dan Coats, to occasional visitors; and bold statements about import tariffs and the Mexican wall.
In the fast-paced days since Donald J. Trump clinched the U.S. Presidency, financial and media analysts have scrambled to list areas in which the new Trump Administration is likely to upend current policy orthodoxy. President-elect Trump has criticized the Fed’s low interest rate policies as ineffective and distorting, a corner of the U.S. policy arena only now getting serious attention.
In my April 2014 Commentary, Economic Complacency Is Not an Economic Policy,
I noted that Americans were frustrated with their economic prospects almost six years after the Great Financial Crisis ended and yet the nation’s political leadership was focused on tactical policies like implementation of the Affordable Care Act, environmental regulations and funding the Highway Trust Fund.
Political promises divert economic value from the market benefits of competition and consumer choice.
Trump fills a gaping void in angst-ridden Middle America. President? Not so much!
Labor markets signal strength; commodities and financial markets signal weakness: what’s a central bank to do?
Changes in capital taxation are an efficient tool for economic fairness.
U.S. stocks are a buying opportunity.
Shifting benefits from poverty programs into cash transfers creates a clearer pathway out of poverty.
We are in desperate need of new, tangible poverty goals that dictate actions and can be linked to progress.
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