The Federal Reserve just released the minutes of its December meeting at which the Fed Funds rate was increased, for the first time in years, by 0.25 percentage points. The vote was unanimous, but the minutes show a great deal of concern that lower unemployment rates have not moved inflation from near zero levels.
Sec. Hillary Clinton correctly noted the importance of the next president’s power to appoint Supreme Court justices. On no issue is this more true than on money in politics.
Bernie Sanders rang in the New Year with a rally in downtown Manhattan renewing his call to break up the big banks and jail executives who break laws. He also distilled the damage done by a predatory unconstrained economy into a single theme: for a long time, the rich have been getting richer as everyone else is mired in wage and wealth stagnation or worse.
Although the Paris Climate Deal certainly represents a step forward for the international community, there are still many potential pitfalls to addressing climate change. New data suggest that the overwhelmingly white donor class may be one such obstacle.
As the Republican presidential candidates gather tonight, it’s worth noting where they’re debating. Sheldon and Miriam Adelson, the biggest outside spenders in the 2012 election, own the casino where CNN will host the debate, and have been meeting with several of the candidates to decide who to endorse. They’ll certainly be watching tonight.
Last Wednesday a mass shooting in San Bernardino, the 355th this year, prompted a debate about the need for gun control. In an incredibly rare decision, the New York Times ran a front-page editorial calling for gun control.
The concept of Short-Termism is fast becoming the darling of progressive economic policy wonks. Predictably, the discourse is littered with inaccuracies and half-truths as pundits rush to publish so as not to be left behind. It is time for a serious convening of interested experts to sort through the issues, but none is scheduled. Until one is convened, a brief walk through the weeds is in order.
The second democratic debate is approaching on Saturday, and the American people want to know: if elected, what will the candidates do to get big money out of our democracy?
Connecticut is poised to undo a signature accomplishment—the Citizens Election Program. Facing budget cuts, some legislators in Connecticut have proposed allowing wealthy donors to, once again, dominate the state’s elections.
Yesterday, voters from coast to coast fought back against big-money politics. Voters in Maine and Seattle resoundingly approved ballot measures aimed at empowering the voices of ordinary citizens in the political process.
How has the rise of big donors affected our policies? In a recent post, political scientist Seth Masket, whose work I deeply respect and have read for years, argues that “what's not happening here is the superdonors skewing American politics rightward.”
His argument is that so far in the 2016 election, superdonors have tended to be Republican, because that’s where the interesting contest is. Here, I have no qualms.
The demonized banking industry must make the case it is morally noble. That may jar some ears, but surely enabling retirees to earn a return on their savings and funding business expansion creating jobs and wealth, improving Americans’ quality of and opportunities in life is morally noble. — Eric Glover, the Washington Times, September 24, 2015
The hyperactivity of the presidential election has raised the level of discussion of financial regulation, at least in terms of noise if not enlightenment. Mr.
Bill Clinton's interview provoked Wallace Turbeville, a former lawyer and investment banker turned financial reform advocate, to contradict him.
"His statement is flat wrong," Turbeville wrote in a blog post for the liberal think tank Demos. "The Graham-Leach-Bliley Act that President Clinton signed had everything to do with the crisis."
The 2008 financial crisis was no accident. It was the result of a decades-long deregulation effort, lobbied for by the financial industry and executed by our political institutions. Now, as the facts of the financial collapse fade from memory, some would rather rewrite their part in history than keep history from repeating itself.
eddy Roosevelt famously argued that, when it comes to foreign policy, one should “Speak softly, and carry a big stick.” Similarly, an apt summation of the political inclinations of billionaires might be, “Speak softly, and carry a big check.”
US stock prices opened trading much higher today after yesterday’s rout and the rout the day before that and the rout the day before that. European markets were up also. The Chinese markets, which closed at 3 a.m. New York time, were off by another 7%, but the government cut interest rates to increase liquidity in the economy and raised the requirements to buy on margin (how much of a stock’s value one can borrow from the brokerage firm).
Great news, is it not? We can all relax and enjoy the end of the summer.
The co-counsel in the case, Jenn Rolnick-Borchetta of Demos, a progressive policy organization, told POLITICO New York, the need to give information to people who have been stopped by the police “has been ordered, but what that is going to look like isn’t yet figured out.”
“The pilot form has a blank space for officers to fill in their information," said Borchetta, who said that creates a potential problem because “we know officers don’t give their info, or the right info.”