It’s a dastardly French plot to disrupt morale in the U.S. I did not really hear anyone use that particular argument against allowing commuters to buy access to high occupancy vehicle lanes, often called the car-pool lanes, such as those…
Rate cut ignores money supply
As expected, the Fed’s Open Market Committee voted Wednesday to lower its target for the Fed funds rate. When the quarter-point cut is implemented, very short-term rates will be at their lowest levels in nearly half a century. It is…
External pressure holds grip on fiscal honesty
Editor’s note: This is the second of two columns on the importance of good information in economics. The first column is Markets and citizens need reliable information. Good information is crucial to sound decision-making. Market economies and democratic political systems…
It’s the economy
Economists have long noted that changes in fiscal and monetary policy generally influence the real economy only after substantial time lags. Therefore, with 17 months to the 2004 election and seven to the Iowa caucuses, whatever President Bush can do…