On Jan. 1, Latvia will adopt the euro, and its lats currency will be no more. Farewell to the bearded Krisjanis Barons, the collector of folk songs who graces the 100-latu note. The Baltic nation is shucking a piece of its heritage because its leaders predict joining Europe’s common currency zone will lead to more trade and prosperity.
Austan Goolsbee , chairman of the White House Council of Economic Advisers, in an interview on Bloomberg Television’s “Political Capital with Al Hunt ,” airing this weekend, said he is confident that the administration and Congress will reach a deal to raise the federal debt limit and that markets are confident that the U.S. won’t default.
President Barack Obama probably will receive August’s unemployment report before he delivers his acceptance speech tonight at the Democratic National Convention in Charlotte, North Carolina, said Austan Goolsbee, a former chairman of the White House Council of Economic Advisers.
Peter Schiff lays an iPod-sized bar valued at about $40,000 on the sun room floor of his Connecticut mansion, and calculates it would cost about $250,000 for each floor tile to pave the room with gold.
At this point, Larry Summers isn’t just the favorite for Federal Reserve chairman. He’s the overwhelming favorite. Unless something truly unexpected shows up in the vetting process (a paid toast at Bashar al-Assad’s birthday party, for example) or the administration comes to believe Senate Democrats will revolt against a Summers nomination, he’s going to get the job.
July 6 (Bloomberg) -- Austan Goolsbee, a professor at the University of Chicago Booth School of Business and a former chairman of the White House Council of Economic Advisers, talks about the June U.S. employment report and the economy. (Source: Bloomberg)