ECONOMIC POLICIES, ANALYSIS, AND RESOURCES
The Economic and Trade Policy Domain tracks and reports on policies that deal with budget, taxation, and finance issues. The domain tracks policies emanating from the White House, Congress, the Department of Commerce and the Department of Treasury.
Latest Economic and Trade Policy Posts
FTC initiates Crackdown on Deceptive Earnings Claims
Brief #137 – Economic Policy
By Stephen Thomas
There is an adage which, simply put, means that if a deal appears too good to be true, then it probably is. The U.S. Federal Trade Commission has seen so many consumers misled by so-called deceptive earnings claims that the agency is developing a regulation to crackdown on the practice. The solution is composed of two phases.
An Update on US GDP and the Economic Effects of Russia’s Invasion of Ukraine
Brief #136 – Economic Policy
By Greg Ziegler
The Bureau of Economic Analysis (“BEA”) released the second estimate of 2021 Q4 Gross Domestic Product (“GDP”) on Thursday, February 24th. The first advanced estimate was released on January 27th which showed fourth quarter growth in 2021 of 6.9% and third quarter growth in 2021 of 2.3%.
The 2022 Wage-Gap Spiral: State and Federal action to Cap Nurses’ Pay
Brief #135 – Economic Policy
By Alexandra Ellis
As the pandemic comes to its third year, state legislatures across the US are looking to cap nurses’ pay. States are calling for local and federal regulation of nursing agencies who employ nursing home nurses and travel nurses. Proponents of capping agency nurses. pay suggest there has been a significant increase of hourly wage for agency nurses.
Eye on the Fed
Brief #134 – Economic Policy
By Greg Ziegler
The Federal Open Market Committee (FOMC) concluded the first of its eight scheduled meetings for 2022 on Wednesday, January 26th. The Committee is comprised of twelve members and is responsible for overseeing the nation’s monetary policy to promote the nation’s economic goals.
Record Numbers of People Quitting Jobs But Employment Remains High
Brief #133 – Economic Policy
By Rosalind Gottfried
The number of people quitting or switching jobs reached a record high of 4.5 million in November, the fourth episode of record setting in 2021. As seen in previous assessments, the biggest changes are in lower paying occupations such as restaurant/bar and retail staffs.
What is the Significance of the First Union Store at Starbucks?
Brief #132 – Economic Policy
By Rosalind Gottfried
The recent union vote, at a Buffalo, NY Starbucks, represents the first success in the company’s 8000 corporate retail outlets. Workers United is the entity representing the workers and is affiliated with the Service Employees International Union. Another area store failed to vote in a union while a third one had a successful outcome which has been contested by both sides.
Inflationary Trends Cut Into Rise in Wages
Brief #131 – Economic Policy
By Rosalind Gottfried
Wages are increasing significantly in all sectors. As workers have gradually rejoined the labor force, taking their time even as federal subsidies to unemployment benefits ended, starting wages and service work especially have seen large increases. Wages increased 4.9% between October 2020 and October 2021.
Last Minute Agreement to Raise Debt Ceiling
Brief #130 – Economic Policy
By Rosalind Gottfried
After persistent bickering Senators Mitch McConnell and Chuck Schumer reached a procedural agreement allowing the Senate to pass an increase in the debt ceiling with a simple majority. This bill passed Thursday and is likely to quickly lead to an increase in the debt ceiling of 2-2.5 trillion dollars, which will cover the government’s debt payments through next year’s election.
Labor, Inflation, and Supply Chain Problems Suggest a Slowing Economy
Brief #129 – Economic Policy
By Rosalind Gottfried
The economic recovery has slowed in the third quarter and the unprecedented circumstances make it unclear what the indicators ultimately will mean for future growth. It is estimated that worker shortages are costing the economy sixty billion dollars in sales every month. Increased wages are failing to attract a crucial influx in returning workers. There are millions of pre-pandemic workers who have not returned to work. Workers are reluctant to return to work likely due to health concerns; childcare issues; and reconsideration of life priorities.