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There hasn't appeared a book as timely as William Silber's “Volcker” in a long time. I read this book in draft form, but am now stunned to see how it lines up with our current situation. With authority, Professor Silber, who teaches at the NYU Stern School of Business, tracks Paul Volcker's unpredicted heroism in vanquishing inflation. Worth the purchase price alone is the facsimile of Volcker's handwritten notes from his first FOMC meeting as Fed head in August, 1979:
Like to set out a few thoughts...3B) I don't have to belabor inflation side of dilemma. Energy big factor, but will continue....3B1) Inflation expectation radically changed in past year or two....'Easing' may not work.
Congratulations to Professor Silber on this important book and also, of course, for writing about a living person, something that is always difficult. And congratulations are due Chairman Volcker as well on his historic work.
TARIFFIED: Trade Talk with Matthew Rooney
This week, trade relations between the U.S. and India are continuing to escalate. Earlier this month, the U.S. stopped granting India special trade privileges by taking away the Generalized System of Preferences (GSP) program, and India has responded by enforcing more tariffs of its own. The George W. Bush-SMU Economic Growth Initiative Director Matthew Rooney breaks down the trade conflict: For more information on trade groups and the global economy, visit www.bushcenter.org/scorecard.
How Trade Spreads Holiday Cheer
It is projected that the average American household will spend more than $1,000 during the holidays this year.
Deporting Salvadorans May Lead to Economic Decline
We should think carefully about a policy whose major impacts are likely to be reductions in employment and economic activity here at home, and increased instability and lawlessness along our borders.
Bush Institute's Laura Collins Talks Immigration on Good Morning Texas
Last week, Deputy Director of Economic Growth at the George. W. Bush Institute Laura Collins spoke with Good Morning Texas about immigration myths. During the interview, Collins had the opportunity to set the record straight and address common misconceptions about legal immigrants living in America today. The segment was inspired from facts released earlier this fall by the Bush Institute in the third edition of America's Advantage: A Handbook on Immigration and Economic Growth. Watch the full Good Morning Texas interview here.