Items tagged with economics:
News & Updates:
On April 9th, the Penn Wharton Public Policy Initiative hosted an interactive conversation on the state of the US economy and the direction of federal economic policy. This panel featured three top financial journalists: Binyamin Appelbaum, Washington correspondent for the New York Times; Jeanna Smialek, economic reporter for Bloomberg News; and Ryan Tracy, reporter for the Wall Street Journal. Peter Conti-Brown, Assistant Professor of Legal Studies & Business Ethics at Wharton, moderated.
The likely elevation of San Francisco Fed President John Williams to lead the New York Fed has sparked a degree of public criticism rarely seen in the relatively obscure world of regional central bank chiefs.
Faculty Affiliate Peter Conti-Brown says central bankers and their allies claim “we get the best quality people” for the job, but it is a closed process.
He continues, suggesting one possible reform among several paths would be for Fed banks in search of a new chief to announce a short list of candidates, which could be done without any legal changes to the law that authorizes the Fed.
Trump negotiates trade deal with South Korea ahead of nuclear talks; GDP in 4th quarter increased from 2.5% to 2.9%, with consumer spending rising at fastest pace in three years; Corporate profits expected to be the highest in seven years.
Dodd-Frank rollback stalls in House; President Trump secures trade deal with South Korea; China pledges open markets to avert US trade war.
Mike Pompeo replaces Rex Tillerson as Trump’s Secretary of State; U.S. consumer prices rose 0.2% in February, matching economists’ expectations; U.S. Small-Business optimism rises to highest level since 1983.