August 30, 2018 — US economic statistics are currently good. But the next recession could be bad.
The Next Recession Could Be a Bad One
Category Archives: financial regulation
An Economic Platform for the Democrats
May 27, 2018 — Democrats are gearing up for the November mid-term elections, in which they hope to take back the US House of Representatives. Candidates are finding that the voters are not necessarily paying close attention to foreign affairs or even Trump scandals, and are more concerned about “pocketbook issues.” The conventional wisdom still stands: underlying the shock election of Mr Trump was the worry by the median household that it has been left behind by globalization and technological change and that the gains have been going to the rich instead.
Explaining Dodd-Frank
September 8, 2017 — Nine years ago this month, the US sub-prime mortgage crisis morphed into a severe global financial crisis. Many Americans across the political spectrum angrily demanded financial reform, by which they meant a tightening of financial regulation. Indeed, important reforms were subsequently enacted, in particular the 2010 Dodd-Frank bill.
Today, those reforms are increasingly under assault. Most recently, the Trump Administration is proposing a roll-back of regulation of banks as well as of other financial institutions. The recent decisions of Fed Governors Stan Fischer and Dan Tarullo to retire are also worrisome signs.