Tax cuts enacted under the administration of former President George W. Bush shouldn’t expire, according to John B. Taylor , a Stanford University economics professor and a former Treasury undersecretary.
Few economists accurately predicted Colombia’s central bank interest rate increase last month. The Taylor Rule did and points to a quarter-point increase today, next month and in May, said Citigroup Inc.
Europe should ignore U.S. calls for continued stimulus and stick to austerity plans when Group of 20 leaders meet this weekend because budget cuts aren’t likely to trigger a new recession, economist John B. Taylor said.
There are bad ideas, and there’s the proposal that economists from Goldman Sachs Group Inc. released Oct. 14. They suggested that the Federal Reserve Board target a nominal gross-domestic-product growth rate of 4.5 percent to decide how much money to inject into the economy. The econo- speak name for this practice is “NGDP targeting.” The question is whether that unlovely abbreviation makes it into mainstream English and becomes policy.
Forty years ago this month, President Richard Nixon sharply shifted his economic policy in an interventionist direction with deleterious economic results that continued for a decade and provide lessons for today.