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Search resuls for: "Jason Furman"


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☆ Stock futures edge higher Friday following strong jobs report
  + stars: | 2022-11-04 | 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 EmailStock futures edge higher Friday following strong jobs reportNela Richardson, ADP chief economist, Liz Young, head of investment strategy at SoFi, Jason Furman, professor at the Harvard Kennedy School of Government and former CEA chair, Michael Strain, American Enterprise Institute, and CNBC's Steve Liesman and Rick Santelli join 'Squawk Box' to react to October's stronger-than-expected jobs report.
☆ The Bank of England was put in a terrible position, says Harvard's Jason Furman
  + stars: | 2022-09-29 | 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 Bank of England was put in a terrible position, says Harvard's Jason FurmanJason Furman, professor at the Harvard Kennedy School of Government and former CEA chair, joins CNBC's 'Squawk Box' to react to the Bank of England's move to buy more long-term bonds to stabilize the market for gilts.
☆ California could 'export inflation' to the rest of the US when it sends up to $10 billion in relief payments this October, a Harvard economist says
  + stars: | 2022-09-27 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +5 min
California is planning to send residents $10 billion in relief checks to help cope with inflation. Several states have adopted inflation relief measures that could have a similar effect. "These inflation relief payments will export inflation to the rest of the United States — with some showing up in California too," Furman wrote. "Californians are going to come out behind from any 'inflation relief payments' made by Florida and other states," wrote Furman. Additionally, while state relief payments may add some unnecessary fuel to the economy, in Florida for instance, these payments have been targeted towards families in need.
☆ Analysis: Britain's new vision leaves onlookers with nightmares
  + stars: | 2022-09-23 | by ( Andy Bruce Lindsay Dunsmuir | Andy Bruce | Lindsay Dunsmuir | ) www.reuters.com   time to read: +5 min
British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng visit Berkeley Modular, in Northfleet, Kent, Britain, September 23, 2022. The pound crashed below $1.09 for the first time since 1985 and British government bonds suffered the biggest daily fall in decades. "I've rarely seen an economic policy that is as uniformly panned by economic experts and financial markets," said Harvard professor Jason Furman, former chair of the U.S. Council of Economic Advisers during Barack Obama's presidency. Britain's Institute for Fiscal Studies compared Kwarteng's statement to a budget in 1972 that similarly sought to double Britain's rate of economic growth, but is widely remembered as a disaster for its inflationary effect. Furman said Truss might also have no choice but to undo some of her plans if Britain's debt problems start to spiral because of higher interest rates.
☆ Wall Street's biggest investors fear an economic nightmare is coming. They may be right.
  + stars: | 2022-09-18 | by ( Linette Lopez | ) www.businessinsider.com   time to read: +9 min
The Federal Reserve — for reasons ranging from a fragile job market to the government's debt — can't aggressively shake higher prices out of the system. So it kept interest rates at 0% to spur financial activity and growth. Chairman Jerome Powell and his band have been raising interest rates fairly quickly, but the main Fed interest rate is still just 2.5%. It's a limbo of stubbornly high inflation and higher interest rates. If Einhorn, Bianchi, and Melosi are right, we could be in economic limbo of stubbornly high inflation and higher interest rates for a while.
☆ Elon Musk says we should start worrying about deflation, even though prices are still growing at a four-decade high
  + stars: | 2022-09-14 | by ( Jason Lalljee | Ben Winck | ) www.businessinsider.com   time to read: +4 min
Elon Musk called on the Fed to cut interest rates on Wednesday, citing fears of deflation. Musk's tweet comes one week before the Fed is expected to raise rates aggressively to fight inflation. Elon Musk suggested in a Wednesday tweet that the Federal Reserve should give up its fight against inflation and instead pivot to worry about deflation, otherwise known as declining prices. Markets and economists largely expect policymakers to raise interest rates by three-quarters of a percentage point when they meet on September 21, marking the third consecutive hike of that size. Rising interest rates combat inflation by encouraging companies to cut expenses, but it's often at the cost of jobs.
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