A long overdue sea change in economic policy is underway. It started gaining momentum in the Great Recession, and since the Covid crisis began, it's gotten real.
The "progressive" label is simultaneously a pejorative from the right and a red badge of courage from the rest of us. Wear it proudly. You are doing the right thing for most people.
Adding to your new macroeconomic structure, we, Fed included, should strive for a high-pressure economy all the time as it is the best economy for the broad population swath most of us live in; we need new tools to manage inflation, but those are conceptually easy.
"I was a vocal proponent of the $1,400 checks. I also argued for enhanced unemployment benefits and aid to state and local governments."
In hindsight wasn't the enhanced aid to state and local governments a bit excessive? Tax revenues didn't collapse like they did after the Great Recession and the upshot of the extra aid seems to be state governments either doing reckless tax cutting schemes or other poorly-thought-out policies that only make inflation worse like further stimulus checks in California and Massachusetts.
I disagree that NAFTA had a negative impact on US economy.
I agree that the 2009 relief act should have been larger, specifically by creating a national system of unemployment insurance that replaces a portion of lost incomes.
I think that Obama could also have subtly jawboned the ed for not meeting it's inflation targets 2008-2020.
It is a shame that Democrats failed to support Obama's TPP. It would have strengthened our position against Chinese abuse. In stead we played into Trump's hands.
Don't let 'em beat you up. You help me and others think.
The "progressive" label is simultaneously a pejorative from the right and a red badge of courage from the rest of us. Wear it proudly. You are doing the right thing for most people.
Adding to your new macroeconomic structure, we, Fed included, should strive for a high-pressure economy all the time as it is the best economy for the broad population swath most of us live in; we need new tools to manage inflation, but those are conceptually easy.
What do you expect from Harvards Larry Sommers he’s an Epstein follower & his financial backer.
"I was a vocal proponent of the $1,400 checks. I also argued for enhanced unemployment benefits and aid to state and local governments."
In hindsight wasn't the enhanced aid to state and local governments a bit excessive? Tax revenues didn't collapse like they did after the Great Recession and the upshot of the extra aid seems to be state governments either doing reckless tax cutting schemes or other poorly-thought-out policies that only make inflation worse like further stimulus checks in California and Massachusetts.
https://www.governing.com/finance/states-are-cutting-taxes-can-they-afford-it
https://www.washingtonpost.com/opinions/with-states-doing-better-than-expected-time-to-rethink-bidens-350-billion-rescue/2021/02/09/67dd98c2-6afd-11eb-ba56-d7e2c8defa31_story.html
I disagree that NAFTA had a negative impact on US economy.
I agree that the 2009 relief act should have been larger, specifically by creating a national system of unemployment insurance that replaces a portion of lost incomes.
I think that Obama could also have subtly jawboned the ed for not meeting it's inflation targets 2008-2020.
It is a shame that Democrats failed to support Obama's TPP. It would have strengthened our position against Chinese abuse. In stead we played into Trump's hands.