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The chair of the Federal Reserve is Wrong, and this is why …

At the virtual “Macroeconomic Policy in an Uneven Economy,” symposium on August 27th in Jackson Hole, Wyoming (the very best place to host a virtual symposium), the Chair of the Board of Governors of the Federal Reserve, Jerome H. Powell, summed up his presentation by stating that, “the baseline outlook is for continued progress toward …

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Spending and Saving in the United States

By Mike O’Donnellmike@mikeodonnell.us The strength of our economy is largely dependent on consumer spending. Almost 70% of the nation’s Gross Domestic Product (GDP) is a function of “consumer spending”, and this, in combination with “business investment”, “government spending”, and “net exports”, is the definitive measurement of total economic output for the United States. A positive …

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