Director, Hutchins Center on Fiscal & Monetary Policy, Brookings institution. Contributing correspondent, The Wall Street Journal

Why are unions so focused on fighting trade deals?

brookings.edu — A shrinking slice of American union workers are in industries exposed to imports and other pressures from international trade. Yet, among all the threats to organized labor and the wages of American workers, the AFL-CIO has made a priority of fighting the Obama administration on the Trans-Pacific Partnership trade deal, which probably won't much have much economic impact anyhow.

Why Are Unions So Focused on Fighting Trade Deals?

blogs.wsj.com — A shrinking slice of American union workers are in industries exposed to imports and other pressures from international trade. Yet, among all the threats to organized labor and the wages of American workers, the AFL-CIO has made a priority of fighting the Obama administration on the Trans-Pacific Partnership trade deal, which probably won't much have much economic impact anyhow.

Spending on our crumbling infrastructure

brookings.edu — In other words, total federal, state, and local government investment is enough to cover only the amount of wear and tear on bridges, roads, airports, rails, and pipes. "Can that possibly make sense?" asked the former Treasury secretary, who has been campaigning for more government spending on infrastructure.

Spending on Our Crumbling Infrastructure

blogs.wsj.com — Larry Summers recently said something startling: " At this moment . . . the share of public investment in GDP, adjusting for depreciation, so that's net share, is zero. Zero. We're not net investing at all, nor is Western Europe," he told a Princeton University audience.

David Wessel on the Federal Reserve and “Audit the Fed”

brookings.edu — ldquo;The real question is, are the proponents of ‘Audit the Fed’ legislation seeking to make the Fed more accountable …? Or are they basically people who don’t like what the Fed is doing and see ‘Audit the Fed’ as a lever to change the Fed?” asks Hutchins Center on Fiscal and Monetary Policy Director David Wessel in this podcast.

The Fed in the 21st century: Independence, governance, and accountability

brookings.edu — The Federal Reserve is an unusual institution of the American democracy: Congress has given the Fed the power to set interest rates and manage credit because it believes an independent central bank will do a better job at that than elected politicians.

Q&A: Explaining 'Audit the Fed'

brookings.edu — The debate over Sen. Rand Paul's campaign to "Audit the Fed" is marred by falsehoods, misunderstandings and politically motivated name-calling. The Federal Reserve, though it has enormous power over the U.S. economy, is designed to be independent of Congress and the president.

Q&A: Explaining 'Audit the Fed'

brookings.edu — The debate over Sen. Rand Paul's campaign to "Audit the Fed" is marred by falsehoods, misunderstandings and politically motivated name-calling. The Federal Reserve, though it has enormous power over the U.S. economy, is designed to be independent of Congress and the president.

Q&A: Explaining ‘Audit the Fed’

blogs.wsj.com — The debate over Sen. Rand Paul's campaign to "Audit the Fed" is marred by falsehoods, misunderstandings and politically motivated name-calling. The Federal Reserve, though it has enormous power over the U.S. economy, is designed to be independent of Congress and the president.

What's Behind the Fed's Credibility Gap on Interest Rates?

brookings.edu — The markets don't appear to believe the Fed. There is a significant difference between the interest-rate path that Federal Reserve officials sketched in December, the last time they made public projections, and the rates implied by trading in futures markets.
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