Money
Jo Freeman Reviews Formidable: American Women and the Fight for Equality
Jo Freeman writes: "This book is a good introductory overview of US women’s accomplishments and activism over the last hundred years, in only 500 pages. Despite the subtitle, the book is not about feminists. It is about formidable women, many of whom would not think of calling themselves feminists. Eleanor Roosevelt disdained feminism, but, as her chapter documents, she worked hard to improve women’s lives..."If you know little or nothing about women’s history in the United States this book is a good place to start. There is so much more to the story of the fight for equality — which is not yet over." more »
Bringing Inflation Down: Federal Reserve Vice Chair Lael Brainard At the Clearing House and Bank Policy Institute 2022 Annual Conference
"While the moderation in monthly inflation is welcome, it will be necessary to see several months of low monthly inflation readings to be confident that inflation is moving back down to 2 percent. How long it takes to move inflation back down to 2 percent will depend on a combination of continued easing in supply constraints, slower demand growth, and lower markups, against the backdrop of anchored expectations. With regard to supply constraints, a variety of indicators are showing signs of improvement on delivery times and supplies of some goods. In addition, labor force participation showed a welcome increase in the August employment data, particularly in the boost in participation among women in the core working years of 25 to 54 years of age." ' more »
Remarks by President Biden on American Rescue Plan Investments; September 02, 2022, South Court Auditorium Eisenhower Executive Office Building
"I mean, as he said, the American Rescue Plan was passed 17 months ago. Three billion dollars of that came to the Commerce Department to do economic development. And we decided to put $1 billion into this Build Back Better Regional Challenge, and it’s because the President directed me to make investments in communities to help communities revitalize themselves and get ready for the transitions in our economy. Because he fundamentally said, “People want to work where they live, and they ought to be able to do that.” And so, that’s what this is all about. We believe every single American, no matter where you live, ought to have an opportunity to have a high-paying, family-supporting job in that community. So, let me fill in some of the blanks about the approach. It’s a novel approach. This is the first time ever the Department of Commerce has made such sizable investments in individual communities." more »
Fed Reserve Chair Jerome H. Powell At “Reassessing Constraints on the Economy and Policy": "We must keep at it until the job is done", Jackson Hole, Wyoming
" History shows that the employment costs of bringing down inflation are likely to increase with delay, as high inflation becomes more entrenched in wage and price setting. The successful Volcker disinflation in the early 1980s followed multiple failed attempts to lower inflation over the previous 15 years. A lengthy period of very restrictive monetary policy was ultimately needed to stem the high inflation and start the process of getting inflation down to the low and stable levels that were the norm until the spring of last year. Our aim is to avoid that outcome by acting with resolve now." more »