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☆ A Harvard economics professor wants Bill Ackman to know that two wrongs don't make a right
▼ + stars: | 2023-10-12 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementAdvertisementA Harvard economics professor has criticized calls from executives like Bill Ackman to publicly out students who blamed Israel for Hamas attacks. Furman was weighing in on the fallout from the controversial joint statement from the Harvard Palestine Solidarity Groups. This statement, issued by multiple Harvard student groups, held the "Israeli regime entirely responsible for all unfolding violence." AdvertisementAdvertisement"I admire @BillAckman, including for his efforts to exonerate the innocent," Furman added in a subsequent X post on Wednesday. At least five of the original 34 student groups who signed the letter have withdrawn their endorsements, per a Tuesday report by The Harvard Crimson.

Persons: Jason Furman, Bill Ackman's, Israel, Furman, —, Bill Ackman, Obama, Ackman, wouldn't Organizations: Harvard Crimson, Service, Harvard, Harvard Palestine Solidarity Groups, Furman

☆ A Harvard professor says a former student is getting doxxed over the letter blaming Israel for Hamas' attacks — even though they graduated in 2021
▼ + stars: | 2023-10-12 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

A letter signed by over 30 Harvard student groups blaming Israel for the Hamas attacks has drawn significant backlash. One Harvard professor says a person who said they recently graduated and had no involvement with the letter has been doxxed. AdvertisementAdvertisementA letter signed by Harvard student groups that blamed Israel for the Hamas attacks has drawn significant backlash from figures like billionaire investor Bill Ackman and Senator Ted Cruz. The person wrote they had been doxxed in relation to the letter despite having nothing to do with it. "We, the undersigned student organizations, hold the Israeli regime entirely responsible for all unfolding violence," wrote the letter, which was signed by over 30 Harvard student groups.

Persons: Israel, —, Bill Ackman, Ted Cruz, Jason Furman, Twitter —, I've, Furman, doxxing, We'll, Harvard Hillel, Ackman Organizations: Harvard, Service, Harvard Kennedy School, Twitter, Palestine Solidarity Committee, Harvard Crimson Locations: Israel, Palestine

☆ A truck drove around Harvard displaying names and photos of students it said were involved with the letter blaming Israel for Hamas' attacks
▼ + stars: | 2023-10-12 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

More than 30 Harvard student groups signed a letter blaming Israel for the Hamas attacks. A driver rode around Harvard in a truck with names and images of students it linked to the letter. AdvertisementAdvertisementOn Sunday, dozens of Harvard student groups cosigned a letter blaming Israel for the brutal Hamas attacks over the weekend. Images on social media appear to show that the students' names and images appeared alongside the title "Harvard's leading antisemites." The letter at the heart of the controversy was cosigned by more than 30 Harvard student groups.

Persons: Israel, —, Jason Furman, Furman, Bill Ackman Organizations: Harvard, Service, Harvard Crimson, Media, Harvard Kennedy School, Publishing

☆ Bill Ackman says it's not harassment to ask for the pro-Hamas Harvard students to be named — it's a CEO's due diligence
▼ + stars: | 2023-10-12 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Bill Ackman is tripling down on his stance that Harvard should name its pro-Hamas students. It's "not harassment to seek to understand the character of the candidates," Ackman wrote. AdvertisementAdvertisementBillionaire investor Bill Ackman says it's not harassment to ask for pro-Hamas Harvard students to be named — it's due diligence. Ackman was separately criticized by Harvard economics professor Jason Furman for his stance that the students should be named. "I admire @BillAckman, including for his efforts to exonerate the innocent," Furman added in a subsequent X post on Wednesday.

Persons: Bill Ackman, It's, Ackman, —, it's, Israel, Jason Furman, Furman, Obama Organizations: Harvard, Service, Pershing, Twitter, Publishing, Ackman

☆ Fmr. CEA chairman Jason Furman: Maybe what we're seeing here is labor supply, not labor demand
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. CEA chairman Jason Furman: Maybe what we're seeing here is labor supply, not labor demandJason Furman, Harvard’s Kennedy School of Government professor and former CEA chairman under President Obama, Tyler Goodspeed, Cato Institute adjunct scholar and former acting CEA chair, Sair Malik, Nuveen CIO, and CNBC’s Steve Liesman, join 'Squawk Box' to break down the September jobs report.

Persons: Jason Furman, Obama, Tyler Goodspeed, Sair Malik, Steve Liesman Organizations: Harvard’s Kennedy School of Government, Cato

☆ Here's where the jobs are for September 2023 — in one chart
▼ + stars: | 2023-10-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The 96,000 net jobs gain last month was more than the combined total for August and July. The U.S. labor market saw broad gains in September in a surprisingly strong jobs report that sparked a quick sell-off in the bond market . Bars and restaurants were the strongest group within leisure and hospitality, adding 61,000 jobs. That is up sharply from the 6,000 jobs added in the same month a year ago. The job market has continued to defy expectations of a significant slowdown, and in fact the numbers for August and July were revised upward.

Persons: Jason Furman, Furman, they've, subsector Organizations: Bureau of Labor Statistics, Harvard, National Economic Council, BLS, Permanente, Screen Actors Locations: U.S

☆ The first thing the Fed needs to do is get inflation under control: Former CEA chair Jason Furman
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe first thing the Fed needs to do is get inflation under control: Former CEA chair Jason FurmanJason Furman, former CEA chairman under President Obama and Harvard Kennedy School economics professor, joins 'Squawk on the Street' to discuss his expectations for the government shutdown, a potential rating downgrade for the United States, and more.

Persons: Furman Jason Furman, Obama Organizations: Harvard Kennedy School Locations: United States

☆ I worked in the White House as an unpaid intern. The job was intense and fascinating — here's what my day looked like.
▼ + stars: | 2023-09-26 | by ( Aria Yang | ) www.businessinsider.com time to read: +10 min

Julian Sarafian is a 29-year-old former White House intern from Sacramento, California. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Julian Sarafian, a 29-year-old former White House intern from Sacramento, California. It's a 10 to 15 minute walk to the White House grounds, and I even walked there on cold and snowy days. It's the side where visitors often gather to take photos of the White House, so it was neat walking in like a VIP. They were accompanied by the White House groundskeeper and were often spotted around the grounds.

Persons: Julian Sarafian, Barack Obama, Joe Biden, —, Barack Obama's, Obama, Jason Furman, I'd, It's, wasn't, Sarafian, interning, Sunny, Yang Organizations: White, Service, UC Berkeley, UC Washington Program, of Economic Advisors, FBI, of Economic, of Economic Advisers, DC, UC Washington, Secret, Harvard Law School Locations: Sacramento , California, Washington ,, Dupont, Washington

☆ Fed's higher for longer decision is due to unemployment data, not inflation: Fmr. CEA Chair Furman
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's higher for longer decision is due to unemployment data, not inflation: Fmr. CEA Chair FurmanJason Furman, Former Council of Economic Advisers Chair and Krishna Guha, Evercore ISI Vice Chairman, join 'Closing Bell Overtime' to talk the Fed's decision to leave interest rates unchanged this month.

Persons: Furman Jason Furman, Krishna Guha, Evercore Organizations: CEA, Furman, of Economic

☆ The SALT deduction is like the trickle-down economics for Democrats, says Harvard's Jason Furman
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe SALT deduction is like the trickle-down economics for Democrats, says Harvard's Jason FurmanErica York, Tax Foundation senior economist, and Jason Furman, Harvard Kennedy School professor and former Chairman of the Council of Economic Advisers under President Obama, join 'Squawk Box' to discuss a new study from the Tax Policy Center, which found that loopholes in the SALT cap are costing the federal government $20 billion a year after generating between 80% to 85% of its intended revenue, and more.

Persons: Harvard's Jason Furman Erica York, Jason Furman, Obama Organizations: Tax Foundation, Harvard Kennedy School, of Economic Advisers, Tax, Center

☆ Why the U.S. has a productivity problem
▼ + stars: | 2023-08-25 | by ( Jeff Huang | In Jefftchuang | ) www.cnbc.com time to read: +1 min

Enter the labor productivity metric. But labor productivity in the U.S. has been falling. Prior to the data from the most recent quarter, the country had seen five consecutive quarters of year-over-year declines in worker productivity. "Sluggish productivity means sluggish growth. Watch the video above to find out more about how labor productivity is measured, how effective a metric it is for economists, the reasons behind the slowdown in productivity and the impact it has on the U.S. economy.

Persons: Jason Furman, Barack Obama, Greg Daco, Furman Organizations: Federal Reserve, Harvard Kennedy School, of Economic Advisers, of Labor Statistics Locations: U.S

☆ Federal Reserve Chair Jerome Powell hints at more bad news for consumers
▼ + stars: | 2023-08-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday. “Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy,” Powell said. “So what does that mean for monetary policy? The Fed chair said higher interest rates are likely pulling on the economy’s reins, implying that r* might not be structurally higher, though he said it’s an unobservable concept. But we cannot identify with certainty the neutral rate of interest, and thus there is always uncertainty about the precise level of monetary policy restraint,” Powell said.

Persons: Jerome Powell, Powell, ” Powell, ” William English, Jason Furman, ” Organizations: DC CNN, Kansas City, Fed, Financial, Atlanta Fed, National Federation of Independent, Yale University, Fed’s, Governors, CNN, Commerce Department, Index, Harvard Locations: Washington, Jackson Hole , Wyoming

☆ Paul Krugman and Mohamed El-Erian are divided over the Fed's inflation target ahead of Powell's speech
▼ + stars: | 2023-08-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Paul Krugman backed calls for the Fed to change its inflation target to 3% – but Mohamed El-Erian says there's little chance of that happening. The two economists voiced their views ahead of Fed chair Powell's speech at Jackson Hole on Friday. "It is very hard for a central bank to change an inflation target when it has been missing it so consistently," El-Erian said. The two economists' comments come ahead of Fed chair Jerome Powell's speech at the 2023 Jackson Hole Economic Symposium on Friday. "It is very hard for a central bank to change an inflation target when it has been missing it so consistently," El-Erian told CNBC on Monday.

Persons: Paul Krugman, Mohamed El, there's, Jackson, Erian, Jerome Powell's, Jason Furman's, Krugman, it's, Powell Organizations: Service, CNBC Locations: Wall, Silicon

☆ Asking the Fed to adjust its inflation target would be like waving a Pride flag at a DeSantis rally, Paul Krugman says
▼ + stars: | 2023-08-23 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Paul Krugman has long been a critic of the Fed's 2% inflation target, and suggests the goal be bumped up to 3%. But central bankers' reaction to such suggestions is similar to what "you'd get if you waved a Pride flag at a DeSantis rally," he says. It's not the first time that Krugman has called for a 3% inflation target. But economist Mohamed El-Erian disagrees – warning there's no chance the Fed will calibrate its inflation target, even though it's a strong argument. AdvertisementAdvertisement"So yes, there's a theoretical argument for a higher inflation target, but don't look for chair Powell to touch that issue in any significant way," he added.

Persons: Paul Krugman, Krugman, we'd, Ron DeSantis, I've, It's, Jason Furman's, Mohamed El, it's, Erian, Powell, Jerome Powell's Organizations: New York Times, Service, Florida, CNBC Locations: Wall, Silicon

☆ The Fed should be preparing everyone for more hikes, says Fmr. CEA Chair Jason Furman
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed should be preparing everyone for more hikes, says Fmr. CEA Chair Jason FurmanJason Furman, Former Council of Economic Advisers chair, joins 'Closing Bell Overtime' to talk the Federal Reserve's next moves ahead of Jackson Hole.

Persons: Jason Furman Jason Furman, Jackson Organizations: of Economic Advisers

☆ The last mile of inflation is going to be the hardest, says former CEA chairman Jason Furman
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe last mile of inflation is going to be the hardest, says former CEA chairman Jason FurmanJason Furman, former CEA chairman under President Obama and Harvard Kennedy School economics professor, joins 'Squawk Box' to discuss the state of inflation, what's behind the decline in inflation over the past year, recession fears, and more.

Persons: Jason Furman Jason Furman, Obama Organizations: Harvard Kennedy School

☆ US investors are searching overseas for opportunities
▼ + stars: | 2023-08-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Despite the gains in US stocks this year, some investors are looking for opportunities elsewhere. That’s despite what’s been shaping up to be a banner year for the US stock market — at least prior to this week’s US credit rating downgrade (more on that below). But some investors say that cheaper valuations for non-US stocks, compared to their domestic counterparts, are enticing some on Wall Street to look for deals overseas. The S&P 500 index currently trades at about 19.6 times its expected earnings, according to FactSet. That MSCI All Country World ex USA index has risen roughly 9% on a US dollar basis, underperforming the S&P 500.

Persons: Goldman Sachs, That’s, what’s, ”, Adam Turnquist, China’s, Jimmy Lee, bode, Fitch, ” Richard Francis, CNN’s Matt Egan, Francis, “, ” Francis, Janet Yellen, Obama, Jason Furman, Larry Summers, Read, Sam Stovall Organizations: CNN Business, Bell, CNN, Investors, Federal Reserve, LPL, Global, The Wealth Consulting, America, Fitch, Treasury Department, AAA

☆ Fitch tells CNN why it downgraded America now
▼ + stars: | 2023-08-02 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Fitch Ratings is defending its controversial decision to downgrade the US credit rating by pointing to the nation’s mountain of debt. “The numbers speak for themselves,” Richard Francis, the lead analyst on US sovereign ratings at Fitch, told CNN in an interview on Wednesday. Within minutes of Fitch’s downgrade on Tuesday evening, the White House, Treasury Department and some leading economists slammed the move. Whether America slips into a mild recession or narrowly avoids one “just doesn’t move the needle,” Francis told CNN. ‘The center’s fallen apart’Beyond the fiscal mess, Fitch is growing increasingly worried about the political situation in the world’s largest economy.

Persons: New York CNN Business — Fitch, ” Richard Francis, Francis, “, ” Francis, Janet Yellen, Fitch, Obama, Jason Furman, Larry Summers, ”, Donald Trump, there’s, Biden Organizations: New York CNN Business, Fitch, CNN, Treasury Department, Social Security, Office, Democrats, Republicans, Trump Locations: America

☆ It's important the Fed signals it has a high bar for cutting rates, says Harvard's Jason Furman
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's important the Fed signals it has a high bar for cutting rates, says Harvard's Jason FurmanJason Furman, Fmr. Council of Economic Advisers Chairman and Krishna Guha, Evercore ISI Vice Chairman, join 'Closing Bell Overtime' to talk the Federal Reserve's decision to raise rates another 25 basis points.

Persons: Harvard's Jason Furman Jason Furman, Krishna Guha, Evercore Organizations: Fmr, Economic

☆ The Fed may need to do more to 'really lock in their goal', says former CEA chairman Jason Furman
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed may need to do more to 'really lock in their goal', says former CEA chairman Jason FurmanJason Furman, former CEA chairman under President Obama and Harvard Kennedy School economics professor, joins 'Squawk Box' to discuss the Fed's rate hike campaign, whether a soft landing is more likely with the recent economic data, the impact of ChatGPT on learning, and more.

Persons: Jason Furman Jason Furman, Obama Organizations: Harvard Kennedy School

While recent inflation data was encouraging, he said, "one data point does not make a trend." Reuters Graphics Reuters Graphics'STRANGE BUSINESS CYCLE'Until the Fed declares its inflation war at an end, however, economists and market analysts say risks to a benign outcome will remain. "At 3.5%, July won't be the last time the Fed hikes," Furman said in an interview. Ed Al-Hussainy, senior rates analyst at Columbia Threadneedle, meanwhile, is skeptical that the impact of rapid rate hikes has already been absorbed. "To say we have the same economy with real rates at negative 2% as we do at positive 2%, I don't buy it."

Persons: Jerome Powell, Christopher Waller, Waller, Thomas Barkin, Nick Bunker, Jason Furman, Obama, Furman, Ed Al, Columbia Threadneedle, Raphael Bostic, Austan Goolsbee, shouldn't, Goolsbee, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Reuters Graphics, Richmond Fed, Reuters Graphics Reuters, Fed, Harvard University, White, Columbia, Atlanta Fed, Chicago Fed, CNBC, Thomson Locations: U.S

☆ Opinion | This Statistic Could Be Distorting How We Think About Inflation
▼ + stars: | 2023-07-17 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Preston Mui earned his doctorate in economics from the University of California, Berkeley, just last year, but he’s already making waves. Mui wrote that economists and policymakers are making too much of one widely followed statistic: the unit labor cost, which is supposed to represent how much business has to spend for labor to produce one unit of output. Rising unit labor costs are said to contribute to inflation. In a June 15 news conference, Lagarde cited unit labor costs five times. When asked why the central bank had revised its inflation expectations upward, she said, “The large part of it is the unit labor cost.”

Persons: Preston Mui, he’s, Mui, ”, Lawrence Summers, Jason Furman, Christine Lagarde, Lagarde Organizations: University of California, Harvard, European Central Bank Locations: Berkeley, America

☆ Everyone wants to know when consumer demand is going to come back for real. Here's what FedEx execs are watching.
▼ + stars: | 2023-06-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

FedEx's massive overhaul is showing early signs of success but package volumes are still down. For the year ahead, FedEx expects moderate revenue growth of between 1% and 3% year over year. FedEx is expecting package volumes to finally bounce back after five straight quarters of declines. FedEx's guidance for the next 12 months includes moderate revenue growth, somewhere between 1% and 3% year over year. "Green shoots," or signs of potential revenue growth, are beginning to show in Europe however, she said.

Persons: We're, Raj Subramanian, Morgan Stanley, Brie Carere, Carere, hasn't, Jason Furman, Mike Lenz, Subramanian Organizations: FedEx, Tuesday, Target, Harvard Locations: Europe, North America, Trans

☆ The Fed is still a long way away from its 2% inflation target, says former Fed Governor Mishkin
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is still a long way away from its 2% inflation target, says former Fed Governor MishkinJason Furman, former CEA chairman and Frederic Mishkin, former Federal Reserve governor, join 'Closing Bell Overtime' with reaction to the Federal Reserve's decision to pause rate hikes this month.

Persons: Mishkin Jason Furman, Frederic Mishkin Organizations: Federal Reserve, Federal

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