Robert Mundell is not widely known outside economic circles but is arguably one the greatest economist of the second half of the twentieth century. Quite simply he’s gotten everything of any economic importance over the last 40 years right. More importantly, he got things right in advance so that policy makers could do something rather [...]
While our politicians pander to the economically ignorant with protectionist threats, the Chinese just slowly go about their business of eating our lunch by thinking long term. Chuck Schumer thinks he wants the Chinese to raise the value of the Yuan (renminbi) but he should be careful what he wishes for. The Chinese are moving [...]
The FOMC statement in full:
Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Growth in household spending has picked up recently but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. [...]
