Staff Commentary on FOMC Announcement
KEY TAKEAWAYS At 2pm, the FOMC (Federal Open Market Committee) announced that it: • Left the target range for overnight rates at 5.25-5.50%, as widely expected. • Continues to passively reduce its holdings of Treasuries and mortgage bonds. • Notes that “inflation remains elevated” and it is “hig...
Tailoring Liquidity Rules Did Not Cause the Failure of Silicon Valley Bank
When Silicon Valley Bank (SVB) collapsed in March 2023, some policymakers pointed to S. 2155 (passed in 2018) as a cause for the bank’s failure. The Biden White House subsequently released a statement calling for the reversal of the previous Administration’s banking reforms.
Online and Disconnected: COVID-19’s Shift of Social Capital Online
The COVID-19 pandemic increased Americans’ reliance on the Internet in ways that are still not fully understood. For many, the Internet became the primary means by which they worked, learned, and socialized.
Does Government Crowd Out Social Capital?
The more than half-century decline of Americans’ social capital is evident in atrophied connections to family, less vibrant communities, smaller faith groups, and fewer connections to work. A portion of the decline in social capital is likely driven by the growth of government during the same time.
Entrepreneurship and the Decline of American Growth
Entrepreneurs are alert to new opportunities, providing the new products, services, and methods that are foundational to economic growth. However, in the last half-century, entrepreneur-driven innovation has declined, leading to slower economic progress.
State Inflation Tracker: November 2022
Americans are facing the highest inflation rates in decades, making it harder for them to afford everyday goods and more expensive to raise their families. Each month coinciding with the Bureau of Labor Statistics’ release of the Consumer Price Index, JEC Republicans’ State Inflation Tracker estimat...
Finding Home: Helping the Homeless Improve Their Lives and Reconnect with Community
Homelessness has become a daunting problem in many cities across the United States, particularly since the 1980s. Drug use, deinstitutionalization of the mentally ill, increased family breakdown, and higher housing costs have all contributed to the rise in homelessness.
The Consequences of Declining Fertility for Social Capital
In 2020, the total fertility rate in the United States reached its lowest point on record. Fertility rebounded slightly in 2021, but Americans continue to not have enough children to maintain the current population.
Policy Solutions to Reduce Inflation
The United States economy in 2022 faces sustained high inflation and slowing economic growth, largely due to demand-boosting fiscal policy and loose monetary policy.
State Inflation Tracker: October 2022
Americans are facing the highest inflation rates in decades, making it harder for them to afford everyday goods and more expensive to raise their families. Each month coinciding with the Bureau of Labor Statistics’ release of the Consumer Price Index, JEC Republicans’ State Inflation Tracker estimat...
