When liberals and conservatives unite to oppose you, that’s a sign you may be doing something right. Such is the case today with economist Steve Moore. President Trump is moving toward nominating Moore for a vacant seat on the board of governors of the Federal Reserve. Judging from the outcry, one would think Trump had
The global growth slowdown now looks contagious. China has been slowing for the past several years. The Chinese government has tried monetary ease, currency manipulation and bank lending mandates to prop up growth, but it’s not working. Chinese corporate defaults are on the rise. The situation in Europe is no better with Italy, France and
Liberals, progressives and the media have been wringing their hands about Donald Trump since he announced he was running for president in June 2015. At first, Democrats said Trump could not get the nomination. Then they rooted for him to get the nomination because he would be the “easiest to beat.” Then they confidently expected
The Fed cut interest rates in 2007 and 2008 in a frenzied response to the mortgage meltdown and the financial panic after the collapse of Lehman Bros. Rates hit zero in late 2008. When that was not enough to stop the panic, the Fed resorted to guarantees of all bank deposits and money market funds,
As the U.S. economy worsens (Q4 2018 GDP was just revised downward from 2.6% to 2.2% and Q1 2019 GDP is currently estimated at 1.7%), we have repeatedly reported on growth warnings from well-respected institutions including the IMF, the Bank for International Settlements and leading academics. The point was to make it clear that economic
