Steven Kamin

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Articles

Tag Archive: interest rates

1 week ago | aei.org | Ramesh Ponnuru |Desmond Lachman |James Pethokoukis |Steven Kamin

Op-Ed The Fed (Probably) Has This One Right Post Economics Is Not Trump’s Strong Suit Article A Quick Q&A on Predicting Super AI Through Bond Markets with … Trevor Chow Press Discussing the bond market: Lachman on SiriusXM’s ‘The Julie Mason Show’ Post AI, Productivity Growth, and Rising Interest Rates Op-Ed 2025: The Year Inflation Makes a Comeback? Press CNBC Discussing the Key Fiscal Decisions Facing the Next Presidential Administration: Pethokoukis on CNBC’s “Worldwide Exchange” Post The...
Tag Archive: Monetary policy | American Enterprise Institute - AEI

1 week ago | aei.org | Desmond Lachman |James Pethokoukis |Steven Kamin |Stan Veuger

Op-Ed Trump’s Dollar Problem Press CNBC Discussing growing tensions between President Trump and Federal Reserve chairman Jerome Powell: Pethokoukis on CNBC’s ‘The Exchange’ Post America’s Economic Crossroads Article AI Progress Amid Macroeconomic Wreckage Post CEA Chair Nominee Stephen Miran’s Critique of the Global Monetary System—Part II Post Council of Economic Advisors Chair Nominee Stephen Miran’s Critique of the Global Monetary System—Part I Op-Ed Donald Trump Wants Lower Interest...
Tag Archive: Working Paper

1 month ago | aei.org | Michael Strain |Jeffrey Clemens |Steven Kamin |John Kearns

Working Paper Does Wage Theft Vary by Demographic Group? Evidence from Minimum Wage Increases Working Paper Why Do Labor Unions Advocate for Minimum Wage Increases? Working Paper Does Policy Advocacy Generate Good PR?
Trump is wrong: Raising tariffs won’t fix the trade deficit

Dec 20, 2024 | thehill.com | Steven Kamin

President-elect Donald Trump’s obsession with tariffs reflects a deep-seated antipathy toward trade and trade deficits — in his own words, “trade deficits hurt the economy very badly.”Whether the trade deficit is really a problem for the American economy is debatable. But either way, most economists oppose using tariffs to address the issue, arguing that higher tariffs will boost inflation, lower real wages, kill jobs, disrupt the global economy and weaken relationships with our allies.
The Fed Can Afford to Loosen Policy

Oct 3, 2024 | aei.org | Steven Kamin

By Steven B. KaminBy the middle of September, financial markets had worked themselves up into a lather as they anticipated the Fed’s first rate cut of this policy cycle. It had indeed been a surprisingly long wait. That’s partly because markets and the Fed had occasionally been wrong-footed by data surprises, such as the uptick in inflation in the first quarter of this year. And it’s partly because the Fed had been exceptionally cautious in taking its foot off the brakes. Read the full article here.
Can Digital Payments Boost Growth and Reduce Informality?

Sep 26, 2024 | aei.org | Steven Kamin |Ana M Aguilar |Jon Frost |Rafael A. Guerra

AbstractWe examine the relationship between digital payment innovation, economic growth and informal activities in 101 economies over 2014–19. We find that a one-percentage point increase in digital payments use is associated with increases in the growth of GDP per capita of 0.10 percentage points over a two-year period, and a decline in the share of informal sector employment of 0.06 percentage points over a two-year period.
The Fed May Cut Interest Rates 0.25 Percent This Week, but It Should Cut 0.5 Percent

Sep 17, 2024 | aei.org | Steven Kamin |Zichu Yang

This week, the Fed’s monetary policy committee will almost certainly cut its policy interest rate, the “fed funds rate.” That initial loosening of monetary policy will be a welcome development, even if only a 0.25 percent cut. But a larger reduction, of 0.5 percent, would be even more welcome. Although inflation has been moving downward for a couple of years now, this rate cut has been a long time in coming.
Grading the Negative Rate Experiment

Sep 16, 2024 | aei.org | Steven Kamin |Desmond Lachman

Did keeping interest rates low for so long create an unnecessary “free money” distortion, increasing income inequality? AEI Senior Fellows Steven Kamin and Desmond Lachman contributed to The International Economy’s Spring 2024 symposium of views on the negative rate experiment.
The Fed Is (Nearly) the World’s Most Hawkish Central Bank

Sep 10, 2024 | aei.org | Steven Kamin |Julia Cataneo

For some time now, the Federal Reserve, scarred by the surge in inflation to its highest pace since the 1980s, has sought nearly iron-clad assurance that any monetary loosening will not be premature. It now looks like that assurance has been forthcoming. As Fed Chair Jay Powell emphasized in his recent Jackson Hole speech, inflation has fallen sharply and the labor market is coming into balance.
Latin America’s Non-Linear Response to Pandemic Inflation

Sep 9, 2024 | aei.org | Steven Kamin |Rafael A. Guerra |John Kearns |Christian Upper

By Rafael Guerra, Steven Kamin, John Kearns, Christian Upper, and Aatman VakilAbstractThis paper estimates empirical Taylor rules to analyze the recent monetary policy of the five main Latin American inflation-targeting central banks. We find that during the inflationary surge of 2021–23, monetary policy reacted more strongly and more quickly to changes in inflation than predicted by a standard linear Taylor rule, estimated on data from the pre-pandemic period.