Monthly Archives: May 2011

Glenn Hubbard is half right

Writing in today’s Financial Times, Glenn Hubbard argues–correctly–that the debate over the debt ceiling in Washington is misplaced. Rather than focus on the debt ceiling, he suggests that Congress and the Administration ought to consider the deficit. Or, as he … Continue reading

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Boehner has it wrong

Speaking to the Economic Club of New York House Speaker John Boehner (R-OH) said: It’s true that allowing America to default would be irresponsible. But it would be more irresponsible to raise the debt limit without simultaneously taking dramatic steps … Continue reading

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Joe Queenan on core inflation

In a very entertaining piece in this weekend’s Wall Street Journal, Joe Queenen gripes about how economists measure inflation. He starts by lamenting the high cost of everything from gas, to bagels, to coffee.  “You can imagine my surprise,” he … Continue reading

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Changing the rules at the FOMC

Representative Barney Frank (D-MA) has introduced a measure that would change the membership of the Federal Open Market Committee (FOMC), the group within the Federal Reserve that sets short-term interest rates by intervening in the federal funds market. The FOMC … Continue reading

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