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Finance

Challenging the Fed in Jackson Hole

As the stock market waited anxiously through the Federal Reserve’s Jackson Hole Summit this weekend for clues to future monetary actions, another conference was held just miles away. The American Principles Project, a conservative non-profit, hosted the conference, and participants and speakers did not hide their worry over how the Fed’s unprecedented actions will harm future economic prosperity.

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Fed

If I were a Fed official, I would give greater weight to the markets' consensus forecast than to the predictions of an econometric model.

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China

In economics, there is lots of room for difference of opinion, and although Mr. Trump is entitled to his own opinion, he is not entitled to his own facts.

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Westerlies

Policy makers may find that the prevailing Westerlies - the winds blowing from east to west in the middle latitudes - are just too strong and decide, once again, to table any change in interest rates.

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The Securities and Exchange Commission finally approved a rule stemming from that 2010 Dodd-Frank Act that requires corporations to disclose the pay gap between their employees and the company’s CEO.

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Hillary Clinton

Clinton clearly missed the memo on the need for tax simplification.

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Keep the Ex-Im Bank Dead

Last month the Ex-Im bank’s charter expired after a nearly two-year fight to avoid reauthorization by free-market Republicans. However, their efforts could be for nothing because of Senate Majority Leader Mitch McConnell’s (R-KY) decision to allow an amendment that would reauthorize Ex-Im as part of an essential bill to fund the highway trust fund for the next six years. 

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Politicians Should Remember the Power of Prices

Why are public policies directed so frequently towards blocking movements in prices that would otherwise be beneficial to the economy?

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On July 23 – roughly five years from the date the Dodd-Frank bill was passed – I had the opportunity to testify before the U.S. House Committee on Financial Services about whether we have fully eliminated the risks of bank bailouts, and particularly the “too-big-to-fail” problem. My oral testimony follows.

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