Best Of the Web
Trump Is Slowing US Economic Growth Harvard Prof Robert Barro finds tax cuts added 1% to growth, but regulations are not decreasing, trade war is hurting the US and nothing has happened on infrastructure.
Some Snapshots of the Economic Well-Being of U.S. Households Based on annual Fed survey of households: a majority say their financial situation is “better” compared to their parents at the same age, one-third of respondents report that they have done “gig work” in the previous month and “17 percent of adults expected to forgo payment on some of their bills in the month of the survey”
All bark but no bite? What does the yield curve tell us about growth? Excellent Bank of England blog finds that “historically, yield curve slopes contain some predictive power in forecasting the level of economic growth in the US and the UK” but “over time, yield curve slope has gradually lost some of their predictive power”
Korea, the “Germany” of Northeast Asia… Like this note by Brad Setser “Korea has no shortage of fiscal space. It should use it.” And “the surplus of China’s neighbors has soared over the past ten years, and now is substantially larger than it was prior to the global crisis.”
Five monetary policies Scott Sumner explains why it’s misleading to speak of the Fed “controlling” interest rates