Thomas Ferguson

Nov 20, 2024 | scheerpost.com | Thomas Ferguson |Servaas Storm

By Thomas Ferguson and Servaas Storm / Institute for New Economic ThinkingIt must be the Wall Street Journal’s DNA. Nothing else easily explains why the normally careful Nick Timiraos would focus so much of his account of “How the Democrats Blew It on Inflation” on the hoary argument that the “Biden Stimulus” somehow triggered worldwide inflation back in 2021.

Nov 19, 2024 | ineteconomics.org | Thomas Ferguson |Servaas Storm

It must be the Wall Street Journal’s DNA. Nothing else easily explains why the normally careful Nick Timiraos would focus so much of his account of “How the Democrats Blew It on Inflation” on the hoary argument that the “Biden Stimulus” somehow triggered worldwide inflation back in 2021. The argument never made much sense, since, as numerous studies have documented, supply-side factors drove the biggest part of the inflation and it hit virtually everybody, regardless of their stimulus policies.

Nov 6, 2024 | ineteconomics.org | Thomas Ferguson

Understanding elections is always a rear-view mirror experience. Both election returns and published exit polls are partial and they stay that way for many weeks afterward. Returns take a while to count in full even with the best will in the world, while the media does not make data from its exit polls fully public. They only print excerpts, fueling any number of foolish debates. Scholarly exit polls that researchers can actually examine take even longer to appear.

Jul 15, 2024 | ineteconomics.org | Thomas Ferguson |Servaas Storm

Every so often a publication comes along that more or less perfectly captures the Zeitgeist of world business elites.

Jul 13, 2024 | portside.org | Thomas Ferguson |Servaas Storm

On June 13th, financial markets discovered they had overestimated the likelihood that the Federal Reserve would soon be cutting interest rates. Federal Reserve Chair Jerome Powell’s remarks at his press conference and the Federal Open Market Committee’s freshly updated quarterly “Summary of Economic Projections” pointed forcibly to the conclusion that the Fed would likely cut rates only once before the end of 2024.