Powell Sends Mixed Messages as He Chickens Out on Rate Hikes
The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday left the target policy interest rate (the federal funds rate) unchanged at 5.25 percent. This "pause" in the target rate suggests the FOMC believes it has raised the target rate high
After the Debt Ceiling Deal: Look for Liquidity Problems in the Markets
Everything seems to be lining up perfectly for individual investors with Joe Biden and Kevin McCarthy making a debt ceiling deal. In fact, a sentiment poll reflects an ebullient investor class. According to an Investors Intelligence article titled "Assume the Positioning"
ICE Has Increased Enforcement Since Trump Left Office
David J. Bier President Biden has received significant criticism from people who want to see more immigration enforcement for supposedly “gutting” Immigration and Customs Enforcement (ICE). While most measures of ICE enforcement remained below pre‐pandemic levels, they also have almost uniformly
Three Reasons to Be Very Skeptical of U.S. “Carbon Tariffs”
Gabriella Beaumont-Smith Senators Christopher Coons (D‑DE) and Kevin Cramer (R‑ND) introduced a bill, the PROVE IT Act, on June 7, 2022, that lays the groundwork for a carbon tariff. A carbon tariff is a tax on imports based on their carbon intensity, a measure of carbon
We Need a Peace President
Most people agree that we are closer to nuclear war than at any time since the 1962 Cuban Missile Crisis. Some would even argue that we are closer now than we were in those fateful days, when Soviet missiles in
Technology Is Meaningless without Entrepreneurship
While many believe that technology is key to a growing economy, technology is useless without entrepreneurship, which develops uses for technology. Original Article: "Technology Is Meaningless without Entrepreneurship"
Disbarment, Attorney Discipline, and Occupational Licensing
Walter Olson In the aftermath of Donald Trump’s efforts to remain in office notwithstanding the 2020 election, many lawyers who assisted him along the way are facing disciplinary and disbarment proceedings. New York and District of Columbia bar authorities suspended Rudolph
For Spending Cuts, How about the EDA?
Chris Edwards The recent debt‐ceiling deal put caps on discretionary spending for 2024 and 2025. But House conservatives want larger reforms and are seeking additional cuts in fiscal 2024 appropriations bills. House Appropriations Chair Kay Granger is right that “the debt
Demonizing Men with False Data on Sexual Abuse
There is a sea change in how society views false accusations of sexual abuse. And it’s about time. The lawsuit John C. Depp, II v. Amber Laura Heard (2022) points to this transformation. Depp and Heard sued each other for defamation
5 Budget Process Ideas in the Republican Study Committee Plan
Romina Boccia There’s a well‐defined budget process that members of Congress are supposed to follow each year to debate how much the federal government will spend and how much money the government will collect in taxes or borrow from credit markets. That’s