June 13, 2019 — Here in Cambridge, we are reeling from the passing of Martin Feldstein on Tuesday.
Author Archives: jfrankel
The Trade War Resumes
Donald Trump on May 5 suddenly revealed that a trade agreement with China was not imminent after all. To the contrary, the Administration on May 10 raised its earlier 10 percent tariff on $200 billion of Chinese goods to 25%, and threatened to extend 25% tariffs to the remainder of imports from China by late June (roughly $300 billion of goods). China, of course, retaliated against US exports [announcing reciprocal 25% tariffs on $60 billion of US goods, to start June 1. Surprised stock markets fell in response, with the S&P 500 down 4 per cent over the first week of the renewed trade war.
Moore on Gold and Commodities
April 30, 2019 — A century ago, the gold standard was considered a guarantor of monetary stability. That golden era is long-gone. (If it ever really existed at all. The general price level fell 53% in US and 45% in the UK during 1873-1896 due to a dearth of gold deposit discoveries.)
Continuing my thoughts on the Fed candidacy of Stephen Moore: he has said several times that he favors a return to gold. In true Trumpian fashion, he recently denied having said it despite the clear video evidence.