HFSC Hearing on S. 2155

Update 400 — HFSC Hearing on S. 2155, The (Stop) Wall Street Looting Act of 2019 As 2019 draws to a close and Congress moves toward adjournment by December 20, attention in Washington is on the narrowing windows of legislative opportunity.  In the economic policy arena, the focus is on the FY 2020 budget (the current …

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A Tale of Two Houses

Update 399 — A Tale of Two Houses:Impact of Inequality on Housing Politics Although not generally considered a major policy remit of the federal government — housing accounts for under one percent of federal spending — housing and related markets represent 15 percent of GDP. Problems in the streets and on the Street have prompted responses on the …

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Penny Lanes

Update 398 • Penny Lanes:  Econ. Positionsand Left/Center/Right Turns in Atlanta Debate Today marks 52 years since the BBC informally banned the song “I Am the Walrus” by the Beatles for its sexually suggestive lyrics.  Paul was not impeached. But there was no such controversy about this week’s Democratic debate in Atlanta, where the debate …

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Democratic Debate in Atlanta

Update 397 — Democratic Debate in Atlanta:Will Candidates Tussle over Taxes and Trade? If you can tear yourself away from the limelight of the House impeachment hearings, we can move to the sublime light of the Democratic presidential debate, 9-11 pm ET tonight in Atlanta. Sans late entries Mayor Michael Bloomberg and Gov. Deval Patrick, …

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A Tale of Two Labor Markets

Update 396 — The Contrast is Striking:Workers Tell Tale of Two Labor Markets For those on the lookout for harbingers of recession — today’s New York and Atlanta Fed projections for startlingly low 4Q19 growth being the latest — the labor market presents a unique challenge.  Unemployment is neither a leading nor lagging indicator. It spikes …

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Fed Chair Powell Hits the Hill

Update 395 — Fed Chair Powell Hits the Hill:Is it Time for a Third Mandate for the Fed? Fed Chair Jerome Powell testifies this week before the Joint Economic and House Budget Committees to discuss the overall economic outlook. His appearances give members of Congress the opportunity to ask what could and should the Fed …

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Tax Priorities and Possibilities

Update 393 — Tax Priorities and Possibilities:Congress’ 2019 Tax Dash; Warren’s 2020 Plan  Today, Sen. Elizabeth Warren released a $20.5 trillion proposal consisting of revenue raisers to pay for her Medicare for All plan.  The comprehensive proposal would make substantial changes to an array of tax titles, ruling out a direct tax increase on the …

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Progressive Strategy Summit 2019

Update 392: Progressive Strategy Summit 2019 Domestic Econ. Policy Consensus Emerge Last week, the Congressional Progressive Caucus Center and Progressive Caucus Action Fund hosted the Progressive Strategy Summit in Washington.  The event brought together members of Congress, grassroots organizers, and policy and political strategists. Attended by over 500 people, the Summit reflected on progressive achievements …

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Silver Lining on the Horizon

Update 391 — Silver Lining on the Horizon(How) Do Automatic Stabilizers Really Work? Economists now speak of the next recession in terms of when, not whether.  As the recession approaches ever closer, so too do increases in fiscal stimulus known as  “automatic stabilizers,” such as unemployment insurance, representing a silver lining.  How do these triggers …

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