The Fed will hike another 25 basis points this week, and Powell will signal that's likely the last rate hike, and the Fed will not cut rates this year. Believe him.
The game of chicken in Washington over raising the debt ceiling—the maximum that the federal debt can be—may look like politics as usual, but it's not. It's far worse and puts livelihoods at risk.
Macroeconomists fiercely debate the causes of inflation now and how policymakers should respond. Profits as a driver of inflation is an especially contentious claim.
The Federal Reserve constantly reminds us that its decisions are “data-driven” or “data-dependent.” But what does that even mean? And what are the dangers when data loom too large?