Federal Reserve Board Vice Chairman Janet Yellen said she favors holding the benchmark interest rate “lower for longer” while cautioning that some bond-market investors may be paying too much for higher yields.
My colleagues Justin Wolfers and Betsey Stevenson provocatively argue that Representative Paul Ryan, the Republican Party's de facto spokesman on economic policy, is "an inflation nutter" because he is concerned that future budget deficits may lead to rapid price inflation.
Central bankers should adopt a clear policy goal, such as the path for nominal gross domestic product, to make remaining easing options more effective under the limits of near-zero interest rates, according to Michael Woodford, a professor of political economy at Columbia University.
Just as lawmakers force as much as $85 billion of budget cuts on the federal government, economists Bradford DeLong and Lawrence Summers have a message for Washington: Now is the perfect time to spend more, not less.
One of the great challenges for business leaders is to separate fact from opinion. Bad facts must lead to action. Bad opinions may lead to action, but not necessarily. The different implications arising from hard fact and harsh opinion are illustrated by two whistleblowers who have recently published books. The first whistleblower — using facts — is former Olympus CEO Michael Woodford, who uncovered a huge accounting fraud...