20/20 Vision

Slouching toward Cryptocracy

Update 615 — Slouching toward CryptocracyOr Regulatory Reckoning for Neo-Wild West? The 2022 Super Bowl this past February was an extravagant debut for the far-flung crypto family of securities, currencies, and platforms. But cryptocurrencies such as Bitcoin have plunged in value by more than 52 percent year to date, with pogo-stick volatility and sell-offs by …

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How Underfunding Defeats Its Fiscal Goals

Update 614 — Penny Wise, Pound FoolishHow Underfunding Defeats Its Fiscal Goals The unrelenting underfunding of vital federal agencies continues unabated, even as the FY23 is being negotiated on the Hill. This is thanks to fiscal policy made by default, without a fiscal policy future in mind. Rather tight domestic federal budgets fiscal and policy …

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Running on the Economy

Update 612 — Running on the Economy The Part of the Glass That is Half Full You run on the economy you have, not the one you had planned on. In part one of two perspectives on running in this economy, we start today with the glass-half full. Per Friday’s glowing jobs report, the U.S. …

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2022 Cong. Endorsements

Update 611 — 2022 Cong. Endorsements Primary Winners in GA, NC, OH, PA, TX This is the first part of a regular Update series covering 20/20 Vision’s endorsements for the 2022 midterm elections. We begin with congressional candidates nominated in states that held their primaries in March and May. Most of our candidates are in …

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Rapid Return to Pre-COVID Fiscal Status

Update 610 — CBO: A Mean ReversionRapid Return to Pre-COVID Fiscal Status Yesterday’s CBO report projects this year’s deficit will fall by $1.7 trillion — the single largest nominal one-year reduction in the federal deficit in American history. The deficit this year will be lower than CBO projected it would be before the passage of the American …

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Raising the Barr

Update 609 — Raising the Barr:Vision Behind Fed’s Supervision For the first time since its creation 12 years ago, the Federal Reserve’s Vice Chair for Supervision position will be filled by a Democratic nominee. Yesterday, Senate Banking held a confirmation hearing for Michigan Law Professor Michael Barr, an architect of Dodd-Frank, the law that established …

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Fiscal Policy Landscape

Update 608 — Fiscal Policy Landscape:Supps, Reconciliation, Payfors on Horizon Congress’s fiscal debate is currently being dominated by responses to a series of crises at home and abroad. Over the next few weeks, Congress will actively consider a range of supplemental spending bills from a Ukraine aid package, to bills addressing the baby formula shortage, restaurant aid, …

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Inflation Eases an Inch

Update 607 — Inflation Eases an InchBut Hits Home(s): Prices, Sales, Rents The main takeaway from yesterday’s CPI report: inflation remains high, though decelerating marginally. CPI increased for consumer goods by 0.3 percent in April, down from the 1.2 percent increase in March. Increases in prices for food, airline fares, new vehicles, and shelter contributed …

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Fed’s 50 bp Rate Hike

Update 606 — Fed’s 50 bp Rate Hike:Tight Labor Market Cause and Effect Per this morning’s jobs report, the US economy added 428,000 jobs in April, average hourly wages are up 5.5 percent from a year ago, and unemployment stayed at a mere 3.6 percent – a near 50-year low – showing that Americans are getting back …

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