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Showing posts from February, 2024

Politico Governor’s Summit 2024. Daniel Merritt, Gonzaga University, Intern.

On Thursday, February 22nd, Politico held its annual Governor’s Summit hosting six state governors and reviewing their thoughts on various issues. With a range of political views ranging from those of Republican Governors Association head Brian Lee to liberal New York governor Kathy Hochul, many sides of the partisan spectrum were present. Still, one can’t help but feel as though the governors’ responses were reserved and cryptic given that this is an election year where political transparency is arguably more important than ever. This article summarizes relevant views by the event’s panel of six governors, attempting to provide insight on future policy. Nonetheless, extracting substance from their words is akin to fighting an uphill battle given the governor's ability to dance around questions. First to speak was Governor Brian Kemp of Georgia. He voiced a desire to expand Georgia’s electric car (EV) market, elucidating plans to centralize electric car manufacture in his state as

Todd M. Harper, Chairman of the National Credit Union Administration at Brookings. Abhey Singh Guram, Beloit College, Intern.

In the world of finance, credit unions, banks and securities firms are constantly navigating choppy waters. During a recent discussion, Todd M. Harper, Chairman of the National Credit Union Administration, shed light on the challenges and opportunities that credit unions face. Held at the Brookings Institution, the event covered the state of credit unions, regulatory efforts, and the unforeseen hurdles that may lie ahead for the financial sector. At the heart of the discussion was the role of credit unions in serving specific communities, with Harper acknowledging and highlighting the unique and diverse nature of credit union membership. These  range from employer-focused credit unions to those with multiple membership common bonds. At the event, a special focus was placed on minority depository institutions (MDIs). These common bond connections (typically based either on employment or community ties) shape the outlook of credit unions. This requires credit unions have flexibility in t

Fed Chair Powell on 60 Minutes. Daniel Merritt, Gonzaga University, Intern.

Creative Investment Research (CIR) has consistently maintained that the present state of the economy is not just adequate but significantly superior to those of the past. This view was corroborated by Federal Reserve Chair Jerome Powell in a 2/4/2024 interview on 60 Minutes , where he addressed and sought to allay concerns related to ongoing inflation at the microeconomic level. Chair Powell pointed out that inflation rates have decreased rapidly and markedly, a trend not observed since the 1980s. He highlighted the current low unemployment rate of 3.7%, which signifies a robust labor market that bolsters an ongoing trend of deflation. Despite rapid changes in key macroeconomic indicators, which might raise concerns, Powell reassured that the inflation rate remains only moderately above the Federal Reserve's target of 2%. This margin allows the Federal Reserve flexibility to adjust policies in response to unforeseen market shifts. Powell also explained the rationale behind the 2%

Unemployment by Race, Ethnicity. January, 2024

Unemployment by Race - Year-over-Year Analysis: - White: The rate increased slightly over a year from 3.0% to 3.4%, indicating a slight uptick in unemployment but relatively stable conditions. - Black or African American: Despite the decrease at the end of 2023, the rate is lower in January 2024 (5.3%) compared to December 2022 (5.7%), suggesting positive long-term improvement. - Asian: With a decrease from 2.4% in December 2022 to 2.9% in January 2024, this group has seen an overall increase in unemployment rate but remains the group with the lowest rate. - Hispanic: There has been an increase in the unemployment rate from December 2022 (4.1%) to January 2024 (5.0%). This represents a nearly full percentage point increase over the year, which could suggest worsening employment conditions for this demographic or could be influenced by broader economic trends. Overall Context: - Racial disparities in unemployment rates are evident, with Black or African American individuals experiencing

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