Comment this story Comment After hitting $5 a gallon in June, gasoline prices fell precipitously. The national average for regular gasoline is now around $3.30, and in 13 states the average is below $3, while the national average could be by Christmas. If your car has a 15-gallon tank, that means you’ll soon only be …
Reviews | Republicans, it’s okay not to thank Biden for lowering gas prices Read More »
Comment this story Comment The United States and Europe find themselves in a closer alliance than at any time in many decades. France has long been the most reluctant European nation to play the role of junior partner in an American-led venture. During his first years in office, President Emmanuel Macron did his best to …
Reviews | US protectionism could jeopardize a golden age of Western unity Read More »
Comment this story Comment President Biden still faces the threat of a recession. He has no assurance that Republicans will refrain from forcing the US Treasury to default on debt over the next two years. For now, however, he can take comfort in a recent string of good economic news. Most important was the dog …
Reviews | Biden is right to be cautiously optimistic about the economy Read More »
Comment this story Comment For the most part, the jobs numbers released on Friday were excellent: stronger-than-expected job growth, near-record unemployment, hiring across most major sectors of the economy. None of these measures signal an economy in recession, despite the widespread perception among voters that we are already in one. A troubling puzzle remains, however. …
Comment this story Comment Investors have been watching Federal Reserve Chairman Jerome H. Powell’s remarks closely this week for clues about the next interest rate hike. They had a few. But if you’ve been paying attention, you may have noticed something far more significant, Powell says. Powell, one of the most powerful policy makers in …
A year ago, Bitcoin and other cryptocurrencies were selling at record highs, with a combined market value of around $3 trillion; glossy commercials featuring celebrities — the most infamous of Matt Damon’s “Fortune Favors the Brave” — filled the airwaves. Politicians, including, alas, the mayor of New York, scrambled to align themselves with what seemed …
The central economic debate in the United States right now is how aggressive the Federal Reserve should be in its efforts to reduce inflation. Few economists argue against the need for higher interest rates to reduce demand, but there are trade-offs, at least in the short term. If monetary policy is too restrictive, we may …
Reviews | Does inflation disproportionately harm the poor? Read More »
The newest monetary system in the world can be undone by the oldest problem there is. A few weeks ago, Sam Bankman-Fried’s FTX cryptocurrency exchange crashed in a classic run. Investors were spooked by the evidence that the exchange had mismanaged their money and couldn’t refund them, so they panicked. And they were right. They …
