Biden’s “Buy American” Scheme a Bad Deal for America

In words seemingly echoing his predecessor, President Joe Biden highlighted his “buy American” initiative in his 2023 State of the Union Address last week.  “When we do these projects, and again I get criticized for this but I make no excuses for it, we’re gonna buy American,” Biden said. The new rules will require materials […]

Inflation report due Tuesday has the potential to deliver some bad news

Prices are displayed in a grocery store on February 01, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images Just as Federal Reserve officials have grown optimistic that inflation is cooling, news could come countering that narrative. All market eyes Tuesday will be on the release of the Labor Department’s consumer […]

On reconsideration, Arthur Burns was still a bad Fed chair

The Economist has an article suggesting that Fed chair Arthur Burns has an undeservedly bad reputation, and “deserves a second look”: Richard Nixon picked Burns to run the Fed, viewing him as a friend who would do his bidding. Despite stubborn inflation, Nixon pressed Burns to cut interest rates in 1971, thinking it would help […]