Tag: economy

Is The Federal Reserve The “Only Game In Town”? If So, How Effectively Can It Play Its Limited “Cards”?

October 2, 2025

“Cheap money can’t buy a strong economy” – R. Samuelson This posting argues that the monetary policy implemented by the Federal Reserve has limited influence on the level of employment in the economy.  First, here’s some background. A few years ago, Mohammed El-Erian, author of The Only Game in Town, argued that pressure was being … More Is The Federal Reserve The “Only Game In Town”? If So, How Effectively Can It Play Its Limited “Cards”?

U.S. Trade Policy: Continuity or Change

January 15, 2025

On January 14th, I participated in a Lawrence University Povolny Lecture Series Panel on how various aspects of U.S. foreign policy might change under the Trump administration. Panelists were asked to address the first two questions below; I added a third question. My sole focus was on trade policy.1) Which policies will likely stay the … More U.S. Trade Policy: Continuity or Change