Stock and commodities markets went into a two-day slide after Federal Reserve Chairman Ben Bernanke hinted that the United States would end so-called “quantitative easing” sometime during 2014.
A number of states are exploring new fees for hybrid and electric car owners in order to compensate for the loss of revenue in gas taxes on fuel-efficient vehicles. The proposal is opposed by those who view the new fees as antithetical to one of the touted benefits of owning a hybrid: savings.
President Obama will announce the appointment of Dr. Jason Furman to chair the White House's Council of Economic Advisers (CEA) Monday afternoon, according to a White House statement. Furman has a Ph.D. in economics from Harvard University and received an MSc from the London School of Economics. He has advised Obama on economics matters since the president’s 2008 election campaign.
A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve.
Keynesian economist Paul Krugman crowed in the June 6 edition of the New York Review of Books that “the case for austerity has crumbled,” but careful analysts should be cautioning “real austerity was never even attempted.”