Found 79 article(s) for author 'Martin Feldstein'

The Fed Needs to Step Up Its Pace of Rate Increases

The Fed Needs to Step Up Its Pace of Rate Increases. Martin Feldstein, March 30, 2015, Opinion. “The Federal Reserve now faces the tough task of unwinding the easy-money policy that has helped bring about the current solid economic upturn. But its projected path for increasing the short-term federal-funds rate over the next few years is dangerously slow. Most members of the Federal Open Market Committee want the real interest rate to be negative at the end of 2015 and approximately zero at the end of 2016. Only in 2017 would the real fed-funds rate even exceed 1%…” Link

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A Window on China’s New Normal

A Window on China’s New Normal. Martin Feldstein, March 27, 2015, Opinion. “Every year at this time, China’s government organizes a major conference – sponsored by the Development Research Center, the official think tank of the State Council – that brings together senior Chinese officials, CEOs from major Chinese and Western firms, and a small group of international officials and academics. The China Development Forum (CDF) occurs just after the annual National People’s Congress...” Link

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The Deflation Bogeyman

The Deflation Bogeyman. Martin Feldstein, February 28, 2015, Opinion. “The world’s major central banks are currently obsessed with the goal of raising their national inflation rates to their common target of about 2% per year. This is true for the United States, where the annual inflation rate was -0.1% over the past 12 months; for the United Kingdom, where the most recent data show 0.3% price growth; and for the eurozone, where consumer prices fell 0.6%. But is this a real problem?” Link

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Ending the Euro Crisis?

Ending the Euro Crisis? Martin Feldstein, January 2015, Paper. “All of the attempts to end the euro crisis and to return the Eurozone countries to healthy growth rates of income and employment have failed. The options that are currently being discussed are not likely to be more successful.  If there is a politically feasible way out of the crisis, it will be through revenue neutral fiscal incentives adopted by the individual Eurozone countries. I describe some of these fiscal options after reviewing the history of failed attempts and the options that are currently on the table.” Link

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Harvard Professor Martin Feldstein: Obama’s Passage To India

Harvard Professor Martin Feldstein: Obama’s Passage To India. Martin Feldstein, December 30, 2014, Opinion. “Indian Prime Minister Narendra Modi’s vigorous foreign policy in the seven months since he took office has surprised observers. After inviting the leaders of Pakistan and other neighboring countries to his inauguration, he embarked on trips to China, Australia, and the United States. More recently, he welcomed Russian President Vladimir Putin to New Delhi and signed a large number of trade deals and orders to import Russian nuclear reactors. India…”  Link

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The Fed’s Needless Flirtation With Danger

The Fed’s Needless Flirtation With Danger. Martin Feldstein, December 26, 2014, Opinion. This week’s good economic news — consumer spending up sharply in November over October, and a surge in third-quarter GDP growth to a 5% annual rate — give a clear signal of the likely economic strength in 2015. But it is worth remembering the unusual challenge of restarting the economy after the downturn in 2008 and the risks involved in the Fed’s strategy of quantitative easing…” May require purchase or user account. Link

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The Geopolitical Impact of Cheap Oil

The Geopolitical Impact of Cheap Oil. Martin Feldstein, November 26, 2014, Opinion. “The price of oil has fallen more than 25% in the past five months, to less than $80 a barrel. If the price remains at this level, it will have important implications – some good, some bad – for many countries around the world. If it falls further, as seems likely, the geopolitical consequences on some oil-producing countries could be dramatic…” Link

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The Fed’s Systemic-Risk Balancing Act

The Fed’s Systemic-Risk Balancing Act. Martin Feldstein, August 11, 2014, Opinion. “The Federal Reserve Board of Governors recently warned of the possibility of excesses in asset markets but concluded that, at least for now, if there is a need to act it will not be done by raising interest rates but by relying on “macroprudential” policy tools to reduce systemic risk. We are not expressing a view on whether there are current financial excesses that are potentially destabilizing—that is always hard to judge—or whether the Fed should raise rates now to deal with such possible risks…” May require purchase or user account. Link

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America’s Move to Faster Growth by Martin Feldstein

America’s Move to Faster Growth. Martin Feldstein, May 28, 2014, Opinion. “Last December, I speculated that GDP growth in the United States would rise in 2014 from the subpar 2% annual rate of the previous four years to about 3%, effectively doubling the per capita growth rate. Now that the US economy is past the impact of the terrible weather during the first months of the year, output appears to be on track to grow at a healthy pace. The primary driver of this year’s faster GDP growth is the $10 trillion rise in household wealth that occurred in 2013. According to the Federal Reserve, that increase reflected a…” Link verified August 21, 2014

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Piketty’s Numbers Don’t Add Up

Piketty’s Numbers Don’t Add Up. Martin Feldstein, May 14, 2014, Opinion. “Thomas Piketty has recently attracted widespread attention for his claim that capitalism will now lead inexorably to an increasing inequality of income and wealth unless there are radical changes in taxation…..” May require purchase or user account. Link verified August 26, 2014

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