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Skanda Amarnath

Executive Director skanda@employamerica.org

About

As co-founder and Executive Director of Employ America, Skanda both leads our economic policy advocacy and ensures the long-term sustainability of the organization. Skanda’s commitment to our mission of full employment informs all of his work, from regular analyses of price and jobs data, to interpreting and forecasting market conditions, to developing new frameworks for Federal Reserve policy, strategy, and communication.

Skanda draws on a foundation of knowledge and career experience at the intersection of finance and policy. He was Vice President at MKP Capital Management operating as a market economist and strategist, and previously served as an Analyst within the Capital Markets function of the Research Group at the Federal Reserve Bank of New York. He has undergraduate degrees in Applied Mathematics and Economics from Columbia, and holds a Juris Doctor degree from Columbia Law School.

A frequent media guest and commentator, Skanda has been featured or quoted in the New York Times, the Atlantic, Heatmap News, Politico, Vox, the Wall Street Journal, Forbes, the American Prospect, the Washington Post, and more. He is also a regular contributor to Bloomberg’s Odd Lots newsletter. Skanda is based in Jersey City, NJ, and enjoys cooking, tennis, and cycling in his spare time.

Skanda Amarnath's Work

692 Posts
Skanda Amarnath

Creative approaches to financing investment in public assets and the private sector abound throughout American history. The New Deal, the CARES Act and other legislation have made use of government corporations, equity purchases and loan guarantees to generate durable and appreciating public assets.

Given the Fed’s recent framework revisions and forward guidance commitment to maintain current interest rates until “maximum employment” is achieved, the Fed’s communication with respect to its assessment of “maximum employment” is overdue for a clarification.

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.

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.

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 Fed has chosen to double down on an inflation-oriented framework for setting monetary policy. While there are some advantages in the current environment to an “average inflation targeting” scheme that affirmatively permits inflation to rise at least modestly past 2%, this approach is not particularly robust to a scenario

Here, we discuss six potential improvements to the Evans Rule that the Federal Reserve (Fed) should consider as it formulates its forward guidance strategy in response to the COVID-19 economic crisis.

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