Jason Furman
21.7K posts
Jason Furman
@jasonfurman
Professor @Harvard, Director @HarvardBizGov, Senior Fellow @PIIE, teaches Ec10, words @nytopinion, was Chair of Pres Obama's CEA. Some posts may be educational.
- Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless. Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse.
- What policy will provide relief to: a. A waiter who is losing most of his tips b. A Lyft driver who is losing many of her trips c. A person who self quarantines without pay d. Someone who was going to re-enter the job market but can't now e. Everyone else Only one: CASH
- The other day a student asked me about the prevalence of insider trading in prediction markets. I now have an answer.
- President Biden will have an economic dream team. I am thrilled for him, for them, and most importantly, for the country. One tweet for each member, starting with the most important economic agency (that I ever ran):
- My guess is the majority of Americans with a net worth of $50 to $300 million would get a tax cut under the Build Back Better plan with a full repeal of SALT. The bill would do more for the super-rich than it does for climate change, childcare or preschool. That's obscene.
- This is now much worse than a Liz Truss moment. After Truss unleashed chaos in UK markets she pulled back part of her proposal then fired her Chancellor & then pulled back the rest of it. None of that was enough for markets--until she resigned. How can we get out of this?
- At a 1% real rate of return the vampire would have $7T today.Imagine a vampire came to the New World with Columbus in 1492. If he somehow managed to earn or steal the equivalent of $1 million 2025 US dollars every day, he wouldn't become a trillionaire until about 4232 — 2,740 years later. Not even Dracula himself would be as effective a
- I have yet to find a blemish in this jobs report. I've never before seen such a wonderful set of economic data: --Job gains in most sectors --Big decline in unemployment rate, even bigger for Black & Hispanic/Latino --Redn in long-term unemp --Solid (nominal) wage gains
- The Biden plan is the most impressive and ambitious child poverty plan ever in the United States. This would not just help in the short run but have long-run mobility benefits as well. Perhaps the 2nd most important part, the most important being combatting the virus.
- I don't think people realize that in important respects tariffs are now higher & more inflationary than what was announced on last Wednesday. Since then we've gone from 54% to 125% on China, our 3rd largest trading partner. That outweighs delaying the increases on 70+ others.
- Craziest (and most infuriating) chart I saw this past week: Germany's monthly exports of goods purportedly to Kyrgyzstan. From @robin_j_brooks.
- I don’t think I have ever publicly criticized any Presidential nominee before. But E.J. Antoni is completely unqualified to be BLS Commissioner. He is an extreme partisan and does not have any relevant expertise. He would be a break from decades of nonpartisan technocrats.
