A slightly off-center perspective on monetary problems.
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I don’t follow Democratic politics closely, but those who do suggest that Michigan Governor Gretchen Whitmer would have been a strong possibility to be the nominee if there were an open primary. She’s a popular governor in a part of the country that will determine the election.
I just saw Richard Clarida on CNBC, saying something to the effect that “The bond market is doing the Fed’s job for it”.
No, no, a thousand times no!!! Interest rates are not monetary policy. Interest rates plunged in 2008, but the bond market wasn’t doing the Fed’s job for it....
It seems to me that the term ‘provoked’ has a sort of negative connotation. Don’t poke the bear, you’ll only provoke him. On the other hand, ‘provocative’ can have a positive connotation. He expressed some provocative ideas, meaning interesting ideas. But doesn’t...
I see lots of commenters making an EC101 error. They notice that Canadians are much more likely to live in high rises, and assume that this reflects a difference in preferences. It’s certainly possible that preferences differ in one country from another, but to demonstrate that to be true you’d first...
The tweet included this graph (click link for closer view):
In the unlikely event that my math is accurate, I counted 624 high-rises under construction in Canada and 796 in America. But the US has more than 8 times the population of Canada. In addition, we are more densely populated,...
Neither observation impresses me. The fast growth over the past 51 months comes from a rebound from Covid (plus strong immigration.) The expansion after March 2009 was way too slow, featuring very high unemployment for a number of years.
During the 2010s, Jim Bullard was probably my favorite Federal Reserve bank president. David Beckworth has an interview with Bullard, in which he makes a number of insightful observations. As usual, I’ll focus on an area where I seem to spot a difference of opinion:
