Jim Glassman News
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Three decades ago, U.K. Prime Minister Margaret Thatcher was confronted with a nation bordering on irrelevance, a stagnant economy and a set of entrenched beliefs about the relationship between government and the people.
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Inflation is sometimes referred to as a hidden tax. Unlike other taxes, it doesn’t require legislation by Congress or the states. It doesn’t merit a line item on the 1040 federal income-tax form many Americans will file this week. And it doesn’t appear on the bottom of sales’ receipts as a percentage markup on the things we buy.
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President Barack Obama, under pressure from Republican lawmakers and constituents to reduce the highest jobless levels in more than a quarter century, faces a more persistent, underlying challenge: long-term unemployment.
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Bloomberg's Tom Keene talks with Jim Glassman, senior economist at JPMorgan Chase & Co, about the U.S. economy. (Source: Bloomberg)
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Wall Street lives in a world of extremes.
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Consumers expect inflation of 3.2 percent in the next five-to-10 years. Investors expect 2.8 percent .
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Consumers expect inflation of 3.2 percent in the next five-to-10 years. Investors expect 2.8 percent .
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Thirty-six years after an academic economist named Arthur Laffer drew a curved line on a cocktail napkin, the debate over supply-side tax cuts paying for themselves is still going strong.
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The running commentary on the U.S. economy can be reduced to two main themes. The first is that monetary and fiscal policies have run out of bullets. The second is that oil prices are responsible for our current malaise.
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How will we know if it’s working?
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