Posts filtered by tags: Council of Economic Advisors[x]


 

Treasury Secretary Janet Yellen says higher interest rates may be needed so economy doesn't 'overheat'

Treasury Secretary Janet Yellen. Jacquelyn Martin/AP It might be necessary to lift interest rates to keep the economy from overheating, Janet Yellen said. The Treasury Secretary's comments contrast with the Fed's plans to hold rates near zero through 2023. Some experts fear Biden's latest spending plans risk dangerously strong inflation. See more stories on Insider's business page. Treasury Secretary Janet Yellen is among the country's most experienced economic policy e...
Tags: Obama, White House, US, Trends, Joe Biden, Atlantic, Treasury, Janet Yellen, Federal Reserve, Biden, Clinton, Yellen, Fed, Larry Summers, Council of Economic Advisors, Jen Psaki


Let’s keep what worked in health care during pandemic, change what didn’t

The coronavirus pandemic flipped the U.S. inside-out. Too many Americans passed away, even more became violently ill and alarmism brought the economy to a virtual standstill. But every cloud, or in this case more of a category five hurricane, has a silver lining. The experience acts as yet another case study showing the superiority of the U.S. healthcare system and the power of the free market when government steps out of the way. Policymakers should be careful to keep it that way. Although not ...
Tags: Supreme Court, Obamacare, Congress, California, Opinion, Sport, Canada, Soccer, Healthcare, Nancy Pelosi, Biden, Vermont, Trump, Carter, Sen Bernie Sanders, Calpers


The US national debt isn't actually very high, BofA says

Passengers wearing face masks wait for their bus in front of a national debt display on Pennsylvania Ave. NW in Washington on Monday, May 18, 2020 Bill Clark/CQ-Roll Call, Inc via Getty Images A Bank of America note says US government debt "is not that high" when measured correctly. If you value the US economy like a company, using a discounted cash flow analysis, the debt to GDP ratio is just 0.7%, the lowest since 2004. The bank cited research by former White House officials Larry Summer...
Tags: Washington, White House, US, Barack Obama, Trends, Bloomberg, Harvard, Republican Party, Donald Trump, George W Bush, DCF, Larry Summers, BofA, Council of Economic Advisors, Jerome Powell, National Economic Council


The Biden administration reportedly spent months preparing for an inflation spike that hasn't come yet - and it's still worried

President Joe Biden meets with Treasury Secretary Janet Yellen in the Oval Office at the White House in Washington, U.S., January 29, 2021. Kevin Lamarque/Reuters White House and Treasury officials spent months testing inflation scenarios, the NYT reports. No scenario showed inflation rising so quickly that the Fed would lose control of price growth. The findings open the door for Biden to spend trillions more on infrastructure and social care. See more stories on Insider's business pa...
Tags: Obama, Washington, White House, US, Trends, Joe Biden, New York Times, Treasury, Nyt, Janet Yellen, Federal Reserve, Biden, Times, Clinton, Yellen, Fed


Americans are the most worried about inflation they've been in 7 years

In this Sept. 15, 2020 file photo, passers-by examine a storefront window, in Boston's fashionable Newbury Street shopping district. Steven Senne, File via AP Expectations for one-year and three-year inflation rose to 7-year highs in a Fed survey. Inflation expectations are a key indicator for price growth and are closely watched by economists. The data underscore forecasts of reopening and stimulus driving a spending boom throughout 2021. See more stories on Insider's business pa...
Tags: Boston, US, Trends, Ap, Biden, Fed, Powell, Jared Bernstein, Council of Economic Advisors, Federal Reserve Bank of New York, Jerome Powell, Steven Senne, Newbury Street, Ben Winck, Ernie Tedeschi


Economists are divided about how bad inflation is going to get. Here are the 14 loudest voices on both sides of the issue.

Former Treasury Secretary Larry Summers. Robin Marchant / Getty Images The debate over inflation is intensifying as Biden pushes to spend trillions on infrastructure. It's largely an intra-party spat as moderates say stimulus risks rampant inflation, while many Democrats favor big spending. Here are the 14 biggest names arguing for and against spending plans and the path of inflation. See more stories on Insider's business page. A new debate is emerging as the US economy nears reop...
Tags: Asia, Obama, Congress, Washington Post, Senate, White House, US, Trends, Bloomberg, Joe Biden, Ap, Harvard, New York Times, Bill Clinton, Ubs, Treasury


Obama staffers amazed at how 'different' Biden's approach to stimulus is

Former President Barack Obama and President Joe Biden at an event in Biden's home town of Scranton, Pennsylvania, in 2013. REUTERS/Jason Reed The size of Biden's stimulus plans has surprised some who worked in the Obama administration. Obama faced debt fears from both Democrats and Republicans when passing aid during the Great Recession. Biden has already passed a massive stimulus package and he's preparing an even bigger infrastructure bill. See more stories on Insider's b...
Tags: Labor, Obama, Congress, Senate, White House, US, Barack Obama, Trends, Joe Biden, Cnn, Pennsylvania, Harvard University, House, Janet Yellen, Federal Reserve, Biden


Economists are divided about how bad inflation is going to get. Here are the 10 loudest voices on both sides of the issue.

Former Treasury Secretary Larry Summers. Robin Marchant / Getty Images The debate over inflation is intensifying as Biden pushes to spend trillions on infrastructure. It's largely an intra-party spat as moderates say stimulus risks rampant inflation, while many Democrats favor big spending. Here are the 10 biggest names arguing for and against spending plans and the path of inflation. See more stories on Insider's business page. A new debate is emerging as the US economy nears re...
Tags: Asia, Obama, Congress, Washington Post, Senate, White House, US, Trends, Bloomberg, Joe Biden, Ap, Harvard, New York Times, Bill Clinton, Ubs, Treasury


Providing a path to citizenship as part of Biden's infrastructure plan would boost economic growth, more than 60 economists say

Information packs are distributed by the U.S. Citizenship and Immigration Services following a citizenship ceremony at the John F. Kennedy Presidential Library in Boston Reuters Over 60 economists signed a letter urging President Joe Biden to include a path to citizenship for undocumented immigrants as part of his infrastructure plan. The group said that the policy would boost economic growth and improve wages for all Americans. Biden began infrastructure spending talks with a group of bip...
Tags: Congress, Mexico, US, Barack Obama, Trends, Joe Biden, Biden, Donald Trump, U S Citizenship and Immigration Services, Center for American Progress, Office of Management and Budget, Council of Economic Advisors, Brian Deese, U S Dept of Labor, Jeff Zients, Neera Tanden


The bleak January jobs report may be exactly what Biden needs to push his stimulus agenda forward

Chip Somodevilla/Getty Images January's payrolls report showed disappointing job gains and more Americans leaving the labor force. The report amplified calls backing President Biden's $1.9 trillion stimulus plan. The absence of new aid risks permanent labor-market scarring, a former Fed economist said. Visit the Business section of Insider for more stories. The January jobs report painted a gloomy picture of the US labor market's recovery. And that could be just what the Biden administrat...
Tags: Washington Post, Senate, US, Barack Obama, Trends, Bank Of America, Bloomberg, Joe Biden, Cnn, NEC, Bureau of Labor Statistics, Federal Reserve, Biden, Fed, Bernstein, Jpmorgan


White House economist rejects GOP senators' push for $1,000 stimulus checks instead of $1,400

Council of Economic Advisors nominee Jared Bernstein speaks after US President-elect Joe Biden announced his economic team at The Queen Theatre in Wilmington, Delaware, on December 1, 2020. CHANDAN KHANNA/AFP via Getty Images White House economic advisor Joe Bernstein told MSNBC that he thinks President Biden will reject GOP plans for smaller direct payment checks.  While Biden is pushing for $1,400 checks as part of his $1.9 trillion stimulus deal, Republicans think the sum is too big and...
Tags: Florida, Politics, White House, US, West Virginia, Trends, Bloomberg, Joe Biden, Democrats, Gop, New York Times, News UK, Republican Party, Republican, Biden, Msnbc


The stimulus-plan compromise backed by top Democrats scraps a fresh wave of $1,200 direct payments that economists want

House Speaker Nancy Pelosi and Chuck Schumer are negotiating the terms of the next coronavirus stimulus with Republicans and the White House. Drew Angerer/Getty Images Congressional Democratic leaders backed a $908 billion stimulus proposal on Wednesday, but the measure lacks funds for a new wave of direct payments.    House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer embraced the bipartisan measure in an attempt to restart talks with Senate Majority Leader Mitch McConnel...
Tags: Obama, Congress, Senate, White House, Trends, Foreign Affairs, Gop, Missouri, House, Mitch McConnell, Michigan, Nancy Pelosi, Federal Reserve, Biden, Donald Trump, McConnell


Joe Biden may spark his first Senate confirmation fight after controversial pick for a top economic job

Tanden speaks on the third day of the Democratic National Convention in Philadelphia REUTERS/Mike Segar Joe Biden announced six top economic job picks on Monday, but he may set off his first confirmation fight by nominating Neera Tanden as head of the Office of Management and Budget. Tanden was a key Clinton ally during her 2016 presidential run and sparred with Republicans during the Trump presidency. Several Republicans suggested she would face GOP resistance in the Senate during the con...
Tags: Utah, Politics, Texas, Obamacare, Republicans, Congress, Senate, Barack Obama, Trends, Georgia, Markets, Joe Biden, Economy, Policy, Democrats, Gop


'It doesn't exist': A top Republican economist says Trump has no economic plan for a 2nd term

Getty Trump hasn't laid out an economic plan for a second term, according to a top GOP economist. "He has no economic plan. I don't mean that I don't like it. It doesn't exist," Glenn Hubbard, former chair of the Council of Economic Advisors under President George W. Bush, told Bloomberg. Trump has struggled to lay out a second term agenda throughout the year. A recent analysis from a nonpartisan group indicated permanently extending parts of the 2017 Trump tax cuts would grow the federal...
Tags: Politics, Jobs, Taxes, Congress, White House, US, Trends, Markets, Joe Biden, Economy, Policy, Gop, Fox News, Donald Trump, Morgan Stanley, George W Bush


Policymakers must resist price controls on pharmaceutical drugs

Over the past few years, concerns about the prices of prescription drugs have risen along with calls for the government to contain prices through aggressive action. We understand this populist fury, based on fears that people in need are priced out of the market for life-saving medications. But we should be careful not to paint the entire industry with such a broad brush, as pharmaceutical companies have saved countless lives through many of the greatest advancements in medicine. As the pharmace...
Tags: Supreme Court, Congress, California, Opinion, White House, Los Angeles, Sport, Soccer, United States, Editorials, Tufts University, DACA, Council of Economic Advisors, Mike Morrell


Denmark to American leftists: We’re not socialist

Denmark to American leftists: We’re not socialist Democratic Socialists have presented Denmark as the elusive nation where socialism has been successful, and thus a model for the policies they would implement in the United States. Bernie Sanders regularly invoked Denmark during the 2016 presidential campaign, and Alexandra Ocasio-Cortez reassured 60 Minutes viewers that her version of democratic socialism would veer more toward Denmark than Venezuela. Just ...
Tags: White House, Virginia, Religion, US, United States, Denmark, Venezuela, Copenhagen, Bernie Sanders, Danes, Sanders, Aoc, Jim Gilmore, Jim, Council of Economic Advisors, Fraser Institute


Betty Yee for California controller

The role of state controller might not be the most glamorous of positions in California government, but it is certainly one of the most important. California’s dual status as the fifth-largest economy in the world and one of the most progressive states in the nation yields a massive and complex system. As such, the Golden State needs a capable and experienced candidate to serve as the state’s chief financial officer and independent watchdog. In our view, incumbent Controller Betty Yee best fulfi...
Tags: California, Opinion, Senate, Sacramento, Sport, Soccer, Orange County, Metro, Endorsements, Golden State, Yee, Council of Economic Advisors, Betty Yee, California Board of Equalization, Brett Kavanaugh Alex Padilla, Konstantinos Roditis


Full trade war threatens 2008-style recession, warn French govt advisors

PARIS (Reuters) - A full-scale trade war would likely be as devastating for the world economy as the 2008-2009 recession, warned France's Council of Economic Advisors, a body which gives input to the country's prime minister.
Tags: Money, France, businessNews, Paris, Reuters, Council of Economic Advisors


Women in economics: female achievement in a male-dominated field

Women in economics are underrepresented. According to the BBC, the number of women in economics is significantly smaller than in the STEM fields, which are already notorious for their poor gender ratios. From the perceived lesser aptitude of women making them reluctant to apply for economic courses, to family reasons delaying their progress, to subconscious bias preventing their research being published, it is impossible to determine one main underlying cause for this alarming lack of gender div...
Tags: Books, New York, Featured, Maryland, Obama, Africa, US, Bbc, United States, Sociology, New York Times, Bill Gates, World Bank, Janet Yellen, Goldman Sachs, Gender Equality


Too many earning a license when they could be earning a living

California makes it harder for lower-income workers to get a job than any other state in the nation. Thanks to occupational licensing laws, one out of every five California workers needs a government permission slip to earn a living. According to a new report from the Institute for Justice, California’s heavy-handed occupational licensing laws guard entry into jobs that offer upward mobility to those of modest means. These jobs include everything from landscape contractors to shampooers to anima...
Tags: Mississippi, Congress, Obama Administration, California, Opinion, Kentucky, Sacramento, Sport, Soccer, Zimbabwe, Robert Mugabe, Louisiana, Northern California, Legislature, Institute for Justice, Heritage Foundation


GOP Tax Cuts and Jobs Act: The Impacts on Jobs and Incomes

GOP Tax Cuts and Jobs Act: The Impacts on Jobs and Incomes Washington, DC – -(Ammoland.com)- The non-partisan Tax Foundation recently released their new analysis of the Tax Cuts and Jobs Act. Their reports show across the board savings and cuts for Americans all across the country.The Tax Foundation estimates “that the plan would result in the creation of roughly 975,000 new full-time equivalent jobs, while increasing after-tax incomes by 4.4 percent in the long run. The increase in family inc...
Tags: Utah, Florida, New York, Texas, Minnesota, Mississippi, Maryland, Guns, Colorado, California, Montana, Washington, Kentucky, Oregon, White House, Virginia


The GOP establishment no bargain either

Perhaps nothing has been more ironic than the canonization of respectable, moderate-seeming Republicans. People like Mitt Romney and the Bush family, once castigated as practitioners of unmitigated greed or even Hitlerian fascists, have suddenly become laudable in the mainstream media. In this environment, even the perhaps rightly named Jeff Flake, whose popularity in his state was a rousing 18 percent, or Tennessee’s Bob Corker, now get praise from Democrats largely because they revile Donald T...
Tags: Isis, Obama, Opinion, Alabama, America, Barack Obama, Reagan, Sport, Afghanistan, Soccer, Gop, Tennessee, Shanghai, Treasury, Mitt Romney, Manhattan


A former Google data scientist used an odd metric to predict the unemployment rate weeks before official stats: searches for internet porn

It takes the Bureau of Labor Statistics three weeks to collate its survey data on unemployment and release that information to the public. Three weeks might seem like a long time — but hey, it's the way things work. Even Princeton economist Alan Krueger tried and failed to speed up the process when he served as President Obama's chairman of the Council of Economic Advisors in 2011. In his new book, "Everybody Lies," Seth Stephens-Davidowitz presents this problem as a sort of case study into how ...
Tags: Google, Facebook, Obama, Trends, Bureau of Labor Statistics, United States, Princeton, Centers For Disease Control And Prevention, Council of Economic Advisors, Hal Varian, Seth Stephens Davidowitz, Alan Krueger, Varian, Stephens Davidowitz


A former Google data scientist used the number of online porn searches to predict the unemployment rate weeks before official stats were released

It takes the Bureau of Labor Statistics three weeks to collate its survey data on unemployment and release that information to the public. Three weeks might seem like a long time — but hey, it's the way things work. Even Princeton economist Alan Krueger tried and failed to speed up the process when he served as President Obama's chairman of the Council of Economic Advisors in 2011. In his new book, "Everybody Lies," Seth Stephens-Davidowitz presents this problem as a sort of case study into how ...
Tags: Google, Facebook, Obama, Trends, Bureau of Labor Statistics, United States, Princeton, Centers For Disease Control And Prevention, Council of Economic Advisors, Hal Varian, Seth Stephens Davidowitz, Alan Krueger, Varian, Stephens Davidowitz


Accounting, Donald Trump style

” Members should accept the obligation to act in a way that will serve the public interest, honor the public trust, and demonstrate a commitment to professionalism. A member should maintain objectivity … in discharging professional responsibilities….The principle of objectivity imposes the obligation to be impartial, intellectually honest, and free of conflicts of interest.” —American Institute of Certified Public Accountants Code of Conduct Firms and individuals depend on honest accountants. ...
Tags: Books, Featured, Washington Post, Washington, Mexico, China, US, America, Canada, United States, Economic policy, Exports, Trade, Argentina, Statistics, Economic Growth


Trump Stands Up For Bad Bankers

The best way to spot a con artist is by paying attention to what you don't see, as well as to what you see. Donald Trump says he represents working people, but he has already moved aggressively to tilt the scales in favor of Wall Street's criminal elite. As Trump moved to rob Americans of some basic financial protections, his choice of companions only added insult to injury. Now You See It, Now You Don't Last year Wells Fargo became enmeshed in scandal when it was learned that 2 million false ac...
Tags: News, Labor, Congress, Wall Street, Jp Morgan, Janet Yellen, Goldman Sachs, Donald Trump, Goldman, Dodd Frank, Jamie Dimon, Huffington Post, Wells Fargo, Trump, Sen Elizabeth Warren, Cohn


McConnell & Trump Are Sabotaging the Ethics Office For the GOP's Billionaire Cabinet

"Ironic" is an overused word. And yet, how else can you describe what's going on this week in Washington? The Republican president-elect says he wants "extreme vetting" for Syrian refugee families who already face years of scrutiny. Meanwhile, the Senate's Republican leader is ramming Trump's well-heeled nominees through the Senate review process in just a few chaotic days. Forget "extreme vetting." These nominees won't even face ordinary vetting. Instead, Senate Majority Leader Mitch McConnell ...
Tags: News, Congress, California, Washington, Senate, Defense, Barack Obama, Department Of Defense, Gop, Commerce, House, New York Times, Treasury, Mitch McConnell, Goldman Sachs, Republican


The Rabble Understands Trade Pretty Well

There is no issue that has done more to fuel the unexpected success of anti-establishment candidates on the left and the right this year -- Bernie Sanders and Donald Trump -- than international trade. There is no issue about which establishment economic policy elites feel more certainty than trade. There is no issue about which elites feel more entitled to act on supposedly neutral, antiseptic technocratic analysis without the intrusion of tawdry politics than trade. And there is no issue that h...
Tags: News, Obama, Congress, Mexico, China, Virginia, Canada, Hillary Clinton, United States, Social Security, Medicare, Party, North Carolina, Donald Trump, George W Bush, Huffington Post


Focusing Only on Efficiency and Not Equality Has Backfired in Recent Political Debates

Vijay K. Mathur The GOP nominee for president, Donald Trump, opposes trade pacts like NAFTA and TPP (Trans Pacific Partnership (not yet approved by the Senate) in his campaign. These pacts reduce trade barriers and tariffs. Senator Bernie Sanders, contender for the presidency in Democratic primaries, campaigned vehemently against trade pacts. The presumptive nominee Hillary Clinton has also backed out of her initial support for TPP, perceiving that the American people are not very sympathet...
Tags: UK, News, Mexico, Senate, China, US, Eu, Britain, Gop, Hillary Clinton, Michigan, Johnson, Donald Trump, Huffington Post, Mathur, Middle Eastern


Brexit Doesn't Mean the End of Globalization

Brexit. It's more than England leaving the EU we hear. Among other untoward things it's the end of Globalization. "Globalization" has been around for over 50,000 years according to Nayan Chandra, author of Bound Together , but it has only been in the last ten years that the term has penetrated public consciousness and, according to The Economist magazine, was the most over- used word in the last decade. Critics of capitalism seem happy that globalization may be ending; and de-globalization, a ...
Tags: England, News, Eu, Britain, Huffington Post, Economist, Clinton, Chandra, Council of Economic Advisors, John M Eger, Stiglitz, Joseph Stiglitz