Found 124 article(s) for author 'Martin Feldstein'

The Use—and Abuse—of Tariffs

The Use—and Abuse—of Tariffs. Martin Feldstein, July 5, 2018, Opinion, “President Trump’s threatened barrage of tariffs on more than $400 billion of Chinese exports to the U.S. is set to begin Friday. While I am a strong advocate of free trade, the threat of tariffs can be useful in the right context. But the president has never specified his objective. What would the Chinese government have to do to stop Mr. Trump’s tariffs?Link

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The Fed Can’t Save Jobs From AI and Robots

The Fed Can’t Save Jobs From AI and Robots. Martin Feldstein, June 10, 2018, Opinion, “The day is coming, experts tell us, when artificial intelligence and robotics will massively disrupt the labor market. Autonomous vehicles will put 3.5 million truck drivers at risk of losing their jobs. Checkout machines may replace 3.4 million retail cashiers. That is only the beginning of the long list of jobs that will be destroyed by technological change.Link

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Normalizing Monetary Policy

Normalizing Monetary Policy. Martin Feldstein, Spring/Summer 2018, Opinion, “The current focus of Federal Reserve policy is on “normalization” of monetary policy—that is, on increasing short-term interest rates and shrinking the size of the Fed’s balance sheet. Short-term interest rates are exceptionally low, and the Fed’s balance sheet has exploded from $800 billion in 2008 to $4.4 trillion now.Link

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The Next Step for Chinese Economic Policy

The Next Step for Chinese Economic Policy. Martin Feldstein, April 23, 2018, Opinion, “Now that it has risen to the top of the global economy, China must adopt the necessary reforms to become fully compliant with the international rules that it accepted upon joining the World Trade Organization in 2001. Its current policy will only lead to a serious trade conflict with the US.Link

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The Real Reason for Trump’s Steel and Aluminum Tariffs

The Real Reason for Trump’s Steel and Aluminum Tariffs. Martin Feldstein, March 15, 2018, Opinion, “The Trump administration’s proposed tariffs on steel and aluminum imports will target China, but not the way most observers believe. For the US, the most important bilateral trade issue has nothing to do with the Chinese authorities’ failure to reduce excess steel capacity, as promised, and stop subsidizing exports.Link

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Reagan’s Cure for America’s Debt Disease

Reagan’s Cure for America’s Debt Disease. Martin Feldstein, March 5, 2018, Opinion, “The federal government’s most urgent domestic challenge is the exploding debt and deficit. America’s debt nearly doubled during the Obama years, reaching 76% of gross domestic product in 2017. If nothing is done it will surpass 100% of GDP within a decade. The U.S. will then have one of the highest debt ratios in the industrial world—topped only by countries like Greece, Italy and Japan.Link

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