Retired S. Calif. biz journalist. Hacking up tennis cts, chasing fish on the fly, restoring CA native plants, rethinking macroecon, ?ing media. Wisc. native.
@ATabarrok@LHSummers Larry S. 6-22: “We need 5 yrs of unemp. above 5% to contain infl. [or] 2 years of 7.5% .. or 5 years of 6% .. or one year of 10%."
L.S. 12-23: ".. no one should have thought .. the route from 7% to 2% needed to be achieved in ways that were correlated with increases in unemp."
@BetseyStevenson Economists need to reckon with the fact that the Phillips Curve is failed policy, and that the Fed can't control inflation (20% rate policies excepted). New thinking needed.
Jay Powell is there already.
https://t.co/x76adafOSz
@IsabellaMWeber@StephanieKelton Great interview. I'm still haunted by @HalSinger 's comment: "I went over to the [Biden] White House and begged them to do something about inflation. And their attitude was ... this is the Federal Reserve's problem."
@semaforben@maxwelltani "..readers who angrily comment on New York Times stories represent just [1%]of the paper’s .. audience, [Kahn] said, a sign that most people were not outraged.
But the NYT doesn't approve my negative/snarky comments to stories. That 1% is likely a big undercount.
@semaforben@maxwelltani "..readers who angrily comment on New York Times stories represent just [1%]of the paper’s .. audience, [Kahn] said, a sign that most people were not outraged.
But the NYT doesn't approve my negative/snarky comments to stories. That 1% is likely a big undercount.