Page 14 - Volcker Fed News Today : Breaking News, Live Updates & Top Stories | Vimarsana

by Tyler Durden Update 9:00pm ET:  The US government declared a state of emergency late on Sunday, lifting limits on the transport of fuels by road in a bid to keep gas supply lines open as fears of shortages spiked after the continued shutdown of the Colonial Pipeline. “This Declaration addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief,” the Department of Transportation said. White House Press Sec Jen Psaki added that "as the Administration works to mitigate po...

4:13 I wonder how many readers have heard of N. Gregory Mankiw.   He had a very distinguished career as a macro-economist in the 1980s and then in the 1990s was given a $1.4 million advance to write a textbook in Principles of Economics.  This was almost three times the previous high advance and it made him a celebrity.  That, plus his commitment to “Republican” principles of economics --- the negative effects of high marginal tax rates, the blame of persistent unemployment on the inability of prices to adjust completely – led to his being appointed head of George W. Bush’s Counci...