Wall Street Journal (April 21)
“If the White House wanted a test of how firing Jerome Powell would go over in the markets, it succeeded on Monday. U.S. stocks and the dollar plunged while yields on long-term Treasurys climbed after President Trump renewed his attacks on the Federal Reserve Chairman.” The President “thinks he can bully everyone into submission, but he can’t bully Adam Smith, who deals in reality. Markets know tariffs are taxes, and taxes are anti-growth.” It is clear that the “Trump tariffs are the biggest economic policy mistake in decades.” What remains unclear is the President’s ability to see reality. “Markets are spooked because they don’t know if Mr. Trump listens to anyone but his own impulses.”
Tags: Adam Smith, Anti-growth, Attacks, Bully, Dollar, Fed, Firing, Markets, Mistake, Plunged, Powell, Reality, Spooked, Stocks, Submission, Tariffs, Taxes, Treasurys, Trump, U.S., White House, Yields
Bloomberg (September 1)
“That jump in the unemployment rate was not a reflection of companies firing workers in anticipation of a slowdown.” A “very large 700,000 increase” in job seekers “caused the labor force participation rate to jump to 62.8%, the highest since before the pandemic.”
Tags: 62.8%, Companies, Firing, Highest, Job seekers, Jump, Labor force, Pandemic, Participation rate, Slowdown, Unemployment rate, Workers
Wall Street Journal (August 5)
“China’s firing of missiles near Japan has left little doubt that Tokyo would be pulled into any potential war over Taiwan—and would be part of the U.S.-led alliance likely to defend the island.”
Wall Street Journal (August 2)
“No one knows if Donald Trump is serious or trolling when he tweets,” but the “damage from firing Mr. Mueller is so predictable that’s it hard to believe even Mr. Trump would tempt such a fate.”
The Economist (October 5)
“The prime minister is right to raise the consumption tax, but must do more to boost Japan’s growth.” It is time for the third arrow. These major reforms should “include radical proposals to consolidate farmland, increase competition in the provision of health care and ease the rules on hiring and firing.”
Tags: Competition, Consumption tax, Farmland, Firing, Health care, Hiring, Japan, Prime minister, Reforms, Rules, Third arrow
