At the 46th annual Jackson Hole symposium, Fed Chair Jerome Powell delivered a speech titled: Inflation: Progress and the Path Ahead. The speech provided a plethora of reminders that not all is well in the economy. Starting with the name itself, inflation and a path ahead decided by the Federal Reserve, are two things we could all definitely live without.
He even reminded us that:
Argentina’s problem is not Milei.
The Central Bank of Argentina does not have to devalue the peso due to the victory of Javier Milei in the primaries. The Central Bank of Argentina and the Peronist government have been devaluing the peso and sinking the currency for years. It must devalue because the central bank has run out of reserves.
The Economist reported on August 14, 2023, that “Argentina could get its first libertarian president.” They added that Javier Milei, the winner of Argentina’s election primary wa
This book offers an account of Hegel that will surprise many readers—at least it surprised me. The political philosopher Leo Strauss often criticized “historicism,” the view that human beings do not have a fixed nature or essence. Instead, as José Ortega y Gasset put it, “Man, in a word, has no nature; what he has is—history.” G.W.F. Hegel was one of the foremost historicists, so you might expect Strauss to attack him. But, although he does suggest that Hegel’s philosophy has problems, his presentation is sympathetic.
Hollywood has captivated our collective imagination for over a century. We tend to view it as something other than an industry subject to the same immutable laws of economics like cars, coffee, lumber and everything else.
On August 16, 2023, the Federal Reserve expressed concern about the pace of inflation, saying future rate hikes could be necessary if conditions do not change. Currently, the federal funds target rate is between 5.25 and 5.50 percent, the highest level in more than twenty-two years.
