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Lauren Rudd
Bill Dudley, a senior research scholar at Princeton University’s Center for Economic Policy Studies and former president of the Federal Reserve Bank of New York, has been arguing that inflation will not spiral out of control.
Yes, forces are converging to push prices upward. The Biden administration is preparing a massive fiscal stimulus package. The Fed’s monetary stimulus will likely drive the inflation rate above its 2% long-term target. And there is pent-up demand, which recession-damaged businesses will initially struggle to satisfy.
So, inflation is likely to head higher. However, we must not overreact. There is a cornucopia of reasons to believe that the inflationary pressures will not result in a runaway situation as we had in the late 1970s. To see why, consider the following points from Dudley.
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Climate change is generally portrayed as an environmental and societal threat with entirely negative consequences. However, some sectors of the global economy may actually end up benefiting.
New economic and philosophical research argues that policymakers must consider both the beneficial effects of climate change to climate winners as well as its costs in order to appropriately incentivize actions that are best for society and for the environment.
The study by researchers from Princeton University, University College Cork, and HEC Montréal appears to be the first to develop a systematic, ethical framework for addressing climate winners as well as those harmed using financial transfers.
NH Business Review
There are three reasons it can’t, but that’s no reason to be complacent
February 25, 2021
Whenever the lights go out, I reach for my smartphone. And it’s not to call in the outage to my electric utility.
I go straight to the phone app of our grid operator, ISO New England. Here’s what I always want to know: Is this The Big One – the entire bulk power transmission system across our six-state region brought to its knees?
So far, it’s always been something far more local – a tree making contact with a distribution line or a squirrel making mischief amid the transformers in a local substation. (The outcome is always bad for the squirrel.)