March 5, 2018 — Why has the dollar fallen since January 2017? My answer is an economic turnaround in the rest of the world. Also the level of the dollar remains rather high. But Larry Summers has a different answer.
Nov. 27, 2017 — The Republicans, it is said, absolutely must pass a massive tax bill by Christmas, in order to have some major accomplishment to show for 2017, the first year in which they control all branches of government. Having apparently failed in their seven-year campaign to deprive some 20 million Americans of health insurance, they dare not fail in their Scrooge-like campaign to transfer billions of dollars to the ultra-rich.
To try to sell this turkey of a tax bill, Donald Trump recently sought to invoke the memory of Ronald Reagan and his tax reforms.
Oct. 30, 2017 — There has been speculation that after Trump picks one of the five candidates to be chair of the Federal Reserve (with Jay Powell now apparently the front-runner), he could pick another one of them to be Vice-chair. This latter position is the one that, sadly, Stanley Fischer is now vacating.
I hope that Trump asks Janet Yellen to be Vice-chair, assuming he breaks precedent and does not re-nominate her for Chair, and I hope she accepts.