What Washington's Talking About
Unpredictable Economic Times
“You knew it all along: Economists can’t forecast the economy worth a hoot. And now we have a scholarly study that confirms it. Better yet, the corroboration comes from an impeccable source: the Federal Reserve. The study compared predictions of important economic indicators — unemployment, inflation, interest rates, gross domestic product — with the actual outcomes. There were widespread errors. The study concluded that 'considerable uncertainty surrounds all macroeconomic projections.'" [Robert J. Samuelson, Washington Post]
“[Federal Reserve Chair Janet Yellen], with one year left in her tenure as the world’s most powerful central banker, is almost certain to announce a hike in interest rates by one-quarter point next Wednesday. She and her Fed colleagues could boost rates further throughout this year, potentially putting a lid on a stock market rally the president loves to celebrate and taking the punch out of a package of tax cuts and infrastructure spending the White House hopes will juice the economy next year and beyond.” [Ben White and Victoria Guida, Politico]
Is Trump Getting Tough on Russia?
Trump to Tap Huntsman as Ambassador to Russia [Alan Cullison and Peter Nicholas, Wall Street Journal]
Trump’s rumored pick for NATO ambassador doesn’t seem to agree with him about NATO [Zack Beauchamp, Vox]
“The window for handling Mr. Putin is very narrow. Mr. Trump’s brashness has stopped at attacking Mr. Putin personally. That atypical restraint horrified many Russia hawks in the West. But it may turn out that Mr. Trump took a better approach. Whether accidentally or by design, he has left the door open for Mr. Putin to make a graceful exit. That would be good for everyone.” [Mikhail Khodorkovsky, Wall Street Journal] |
