David Wessel
@davidmwessel
Director, Hutchins Center on Fiscal & Monetary Policy, Brookings. My latest book "Only the Rich Can Play," the story of Opportunity Zones.
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Terrific work by student journalists at @thecrimson -- before he was against DEI, @SecWar Hegseth was for it. Ironic that military leaders have been separated for years-old DEI views but here Hegseth is advocating for education that ensures "a balance of race, class, gender, and…
Even concrete US interventions are unlikely to save Argentina's peso for long unless they go further than so far promised—though it might give Milei a rickety bridge through the October election without an embarrassing devaluation. By Maurice Obstfeld: piie.com/blogs/realtime…
Hutchins Center Explains: What is the Exchange Stabilization Fund that Treasury Secy Bessent wants to tap to aid Argentina? brookings.edu/articles/what-… via @BrookingsInst
Today in Tax Court: Homeowners' association for a gated community wants 501(c)(4) status. IRS said no, the benefits basically go to residents, not the broader community. HOA says, wait a minute, here are 6 other gated communities in Texas with approved 501(c)(4) HOAs. 1/
In this Politico interview, White House NEC Director Kevin Hassett defends Fed independence ("indisputably important") ... but justifies Trump's challenge to Fed independence by saying that the Fed—not Trump—has been the partisan actor. That's quite a charge from someone who is…
.@DashaBurns talks with Kevin Hassett about the government shutdown, trade wars, Fed independence and more: politico.com/video/2025/10/…
OBBBA-created "Trump accounts" resemble Baby Bonds on their surface, but as @davidmwessel explains, the latter were designed with a specific purpose in mind. Read more -> brookings.edu/articles/what-…
Also, if the US economy were really growing at a 3.8% annual pace, why would the Fed be pressured to cut interest rates?
The economy has grown at almost exactly a 1.6% rate in the first half of 2025. Moore is looking at a single quarter.
The economy has grown at almost exactly a 1.6% rate in the first half of 2025. Moore is looking at a single quarter.
Jerome Powell said the economy is growing at 1.6%. The latest GDP growth number is 3.8%. The guy in charge of our money supply was off by 130%. It's time for him to go. dailycaller.com/2025/09/23/opi…
President Trump posts a drawing of himself firing Fed Chair Jay Powell
OBAMA: It's fair to say that 80% of the world's problems involve old men hanging on who are afraid of death and insignificance, and they won't let go. They build pyramids, and they put their names on everything. They get very anxious about it.
On Argentina. I have been asked my views. I am no expert on Argentina, but here they are. (A very nice exercise in open economy macro…) Exchange rate-based stabilization typically leads to an overvalued exchange rate for some time (even if the underlying cause of inflation, the…
I want to thank Nexstar for doing the right thing. Local broadcasters have an obligation to serve the public interest. While this may be an unprecedented decision, it is important for broadcasters to push back on Disney programming that they determine falls short of community…
This is going to be an interesting meeting to see how Powell threads the needle—via the consensus-oriented policy statement—at a time when disagreements over the rate outlook are more stark. Would-be Fed dissenters face their own dilemma: A dissent makes a big statement…
What's wrong with the way the US government subsidizes the municipal transit systems' procurement of buses? Why do the buses cost so much? And what can be done about it? New from Ed Glaeser, Samantha Silverberg via @BrookingsInst Hutchins Center and @AEI brookings.edu/articles/payin…
BREAKING: DC Circuit won't allow Trump to fire Lisa Cook from Fed board.
1/ The documents are clear: Lee Zeldin and his wife have two principal-residence mortgages, for properties in Long Island and Washington, D.C. We’ve got the records 👇 Long Island: legacy.www.documentcloud.org/documents/2608… D.C.: legacy.www.documentcloud.org/documents/2608…
ProPublica’s headline is the definition of fake news. I have NEVER claimed more than one primary residence! In 2007, I acquired a primary residence in NY upon leaving active duty. That was my primary residence for the next 17.5 years. My primary residence then changed…
Elaine Buckberg: To address "range anxiety," states should enact laws that require fast chargers to report real-time status that any EV mapping app can access via @BrookingsInst Hutchins Center. brookings.edu/articles/charg…
The Earned Income Tax Credit (EITC) at 50: Past, present, and future. summary of a Hutchins Center @BrookingsInst conference with academic and government experts. brookings.edu/articles/the-e…
I have to say I have been struck that the prominent members of the financial community have had more to say being critical of @ZohranKMamdani's bad ideas about grocery stores in New York than they have the wholesale takeover of the @FederalReserve, which is a major threat to the…
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