Tag Archives: tariffs

Trump and interest rates

There seems to be no norm or conventional wisdom that President Trump is not willing to overturn. Following Fed Chairman Powell’s congressional testimony Tuesday in which he confirmed the Fed’s intention to continue its gradual increase in its policy interest rate, … Continue reading

Posted in Economics, Money, trade, taxes | Tagged , , , , , , , , , , | 3 Comments

Econ 101: Trade deficits

Responding to critics of the administration’s proposed steel and aluminum tariffs, Commerce Secretary Wilbur Ross stated on CNBC: “I think this is scare tactics by the people who want the status quo, the people who have given away jobs in … Continue reading

Posted in trade | Tagged , , , , , , , , , , , , , , , , | 1 Comment

Econ 101—Trade in very simple terms

Trade allows people and firms to specialize in what they produce. This enables them to be more productive. This raises the income (standard of living) of both the seller and the buyer (who must also sell something in order to … Continue reading

Posted in Economics, News and politics, trade | Tagged , , , , , , , , , , , , , | 2 Comments

Econ 101 – Jobs and Income Growth

At long last the economy has more or less reached full employment. The December 2016 unemployment rate was 4.7 percent while the Federal Reserve’s assessment of normal full employment (NAIRU—non-accelerating inflation rate of unemployment) is 4.8 percent. More over, wage … Continue reading

Posted in Economics, Government, News and politics, trade, Uncategorized | Tagged , , , , , , , , , , | 1 Comment

Save Trade

I have written about the importance of trade to our standard of living many times because it seems to be under attack. The graph below, which reflects Angus Maddison’s data showing a massive increase in income throughout the world over the last … Continue reading

Posted in Economics, Government, News and politics, trade, Uncategorized | Tagged , , , , , , , | Leave a comment