Alex Williams
This post is the first in a series that uses the history and economics of the American semiconductor industry to ask big picture questions about the future of fiscal policy and industrial policy.
Commentary about the Biden administration’s proposed fiscal relief policies has relied heavily on estimates of the economy’s potential output. However, few commentators or policymakers look under the hood to check how these estimates are calculated.
The Framework Review and Forward Guidance center labor market outcomes over inflation in evaluating interest rate policy. However, the Fed haven't clarified how they will evaluate inflationary dynamics under the new regime.
The nonpartisan Congressional Budget Office’s analysis of the macroeconomic impacts of the Enhanced Unemployment Insurance (EUI) provisions of the CARES Act is deeply flawed.
While The Shock may have ended, labor market indicators suggest that we still need to respond appropriately to The Slog if we are to avoid a repeat of the lackluster “jobless recovery” following the 2008 crisis.
The Fed’s recent forward guidance on its zero interest rate policy was a welcome sign that the Fed’s monetary policy strategy is giving appropriate emphasis to the achievement of sustainably tight labor markets. We highlight four welcome takeaways worth celebrating and building upon.
By Skanda Amarnath, Alex Williams, and Arnab Datta Executive Summary This piece provides an overview of how the Federal Reserve (“Fed”) decided to require all emergency lending authorized under Section 13(3) of the Federal Reserve Act be conducted at a “penalty rate,” as well as its policy ramifications. In
The federal government should provide support to state governments during economic downturns in the form of block stabilization grants that serve to replace lost tax revenue.
