“This week’s inflation data should be a recipe for rate cuts in March. Chair Powell and the Fed must shift course.” In light of this week’s data releases, @bilalb.bsky.socialgroundworkcollaborative.org/news/groundw...
"Manipulating interest rates can’t make life more affordable for struggling families — but public investment & sound regulations that rein in corporate price-gouging can." Read @bilalb.bsky.social's new piece about the affordability crisis ⬇️
Regulation and public investment are a better response to high prices than more interest rate hikes.
It's clear that we need to make life more affordable for millions of people. It's also clear that fiddling with interest rates is not the best way to do it, and in fact can be destabilizing and counterproductive.
Yes the Fed is likely done hiking rates. No, it should not take a victory lap. And while the rapid disinflation we’ve seen is good news, the Fed’s outsized role in determining our economic future is not. This is one of the key lessons we should take from the last year.
I wrote about the folly of granting the Fed sole responsibility for addressing high prices, and why it's important to step out of the confines of "inflation" to address the underlying affordability crisis. otherwords.org/its-time-to-...
Regulation and public investment are a better response to high prices than more interest rate hikes.
Student debt cancellation is “considered one of the most important interventions when it comes to our affordability crisis.” @bilalb.bsky.social@statesnewsroom.com.
Justin Brown, a father of a 2-year-old who lives with his wife in the St. Louis, Missouri area, has $20,000 in student loan debt. Before the pause on loan payments at the start of the pandemic in 2020...
"Chief Justice John Roberts and Justice Alito together have personal stock in 19 companies that could receive over $30 billion in tax breaks from this case." -@ITEP.bsky.social itep.org/the-moore-ca...
Moore v. United States, already a cause for concern for tax lawyers, could create more barriers for racial equity advocates working to reverse the economic plight of many households of color.
The culture of fear and hatred that was spun up to sell the War on Terrorism and the War on Iraq has far, far more to do with the election of Donald Trump than any of the normal things it's attributed to (e.g. russia, twitter, fake news).
“By joining striking workers, Pres. Biden sent a clear message that our economy works best when workers are driving it forward... The surge in labor organizing across the country is a win for our economy.” @bilalb.bsky.social on Biden joining the UAW picket line.
“By joining striking workers, President Biden sent a clear message that our economy works best when workers are driving it forward."