Jerome Powell replaced Janet Yellen as the new Chairman of the Federal Reserve. This change will give the Fed a chance to reconsider how it conducts monetary policy. There had been a consensus among macroeconomists since the 1980s, but like many things, it was shattered by the Great Recession. Continue reading “Making Sense of Nominal GDP Targeting”
Though we don’t like the sound of it, prices aren’t increasing as fast as the economy’s overlords would like. We might need to thank globalization for that. Continue reading “Inflation Is Weird Right Now”
Citizens of the greatest economy in the world don’t know economics. This comes at a high price when we’re duped into accepting bad economic policies. Continue reading “Duped Because We Don’t Know Economics”
To update, the Fed has increased the fed funds rate 25 basis points to 1 percent as of March 15. Read more here. Continue reading “The Silver Fox Gets Us Ready For A Rate Hike”
Our exploration of the formation of the modern economy picks up in the aftermath of the dot-com crash that cost our drunk uncle a pretty penny. Our rollercoaster economy spent the early years of the millennium clinking and clanking back up to the top of the track. But, it was the stomach-churning drop into the Great Recession that defined our generation’s entrance into the workforce. Continue reading “How the Great Recession Shaped Millennial Careers”
As we continue examining the foundations of our modern economy, let’s take a look at how our parents’ generation helped revolutionize labor skills, before getting left behind.
The silver fox may come bearing gifts this holiday season, as the Fed will (probably) increase the mother of all interest rates—the federal funds rate.
In an attempt to save the economy from the financial crisis of 2008, the Fed dropped the federal funds rate down to effectively zero. For close to seven years, the rate has not budged. Finally, it seems like the Fed is okay with loosening the grip off the economy’s bike seat, and reigning in some of the money in circulation. Continue reading “What The Rate Hike Means For Us”