One of the common rhetorical tropes supporters of the Trans-Pacific Partnership have used to sell it is to declaim all prior trade agreements as inferior, relative to this bright, shiny and new deal. Ron Wyden, the Democrat in Congress most responsible for moving TPP through, gave a particularly juicy example of this yesterday.
Inquiring minds are reading Fed Chair Janet Yellen's Outlook for the Economy speech today at the Providence Chamber of Commerce, Providence, Rhode Island.Here are a few snips from what I believe to believe is a way over-optimistic assessment. Show More Summary
Oregon is about to embark on a first-in-the-nation program that aims to charge car owners not for the fuel they use, but for the miles they drive. The program is meant to help the state raise more revenue to pay for road and bridge projects at a time when money...
Today's Water Cooler: Republicans fall to fighting among themselves, advice for the Blairists and Third Way types, Avian Flu, the Antarctic
An American company is taking the motorized, three-wheel rickshaws used in Asia and elsewhere, and introducing them to U.S. cities
The chair of the Federal Reserve says U.S. economy is still on the mend from the Great Recession
From Fed Chair Janet Yellen: The Outlook for the Economy [I]f the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy. Show More Summary
Not only is it possible for you to improve your home and get more money, it's probably a lot easier than you think
Several health insurance companies are proposing hikes as high as 51 percent, citing sicker patients and expensive medicine
The CPI came in exactly in line with the Bloomberg Consensus option today. It's the details, not the overall number that is worrying. Medical care and rents have been rising rapidly.The Fed likes to ignore food and energy costs. They have their chance to prove it.From Bloomberg... Show More Summary
A selection of economics articles from this week's print edition
One of the enduring puzzles of international finance is the fact that the joint hypothesis of uncovered interest parity and rational expectations is consistently rejected, as evidenced by the coefficient estimates in the Fama regression. The typical approach is to estimate a regression of the ex post change (in logs) of the exchange rate on […]
A new OECD study is better at showing that inequality hurts growth than at explaining why. That means policy makers who want to use taxes and social spending to close the income gap can't assume they will help the economy in the process, Greg Ip writes.
The thrill isn't gone.
The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning:According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% (2.2% annualized rate) in April. The 16% trimmed-mean Consumer Price Index also rose 0.2% (2.2% annualized rate) during the month. Show More Summary
The Obama administration is risking its credibility over the trade deal: Trade and Trust, by Pau Krugman, Commentary, NY Times: One of the Obama administration’s underrated virtues is its intellectual honesty. Yes, Republicans see deception and sinister ulterior motives everywhere,...
Anything except actual policy discussion.
The Commerce Department on Friday said it is planning a series of steps to smooth out statistical quirks that may be affecting quarterly gross domestic product data.
The Trans-Pacific Partnership trade deal vote advances, health officials are racing to find the source of a sushi salmonella outbreak and Shake Shack is introducing chicken to its menu. CBS News MoneyWatch's Jill Wagner has a wrap of the day's business headlines for CBSN.
Ruling upholds a ban on the popular ride-hailing app that informs users of the location and availability of nearby rides