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Written by Stumo
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Tuesday, 10 June 2008 |
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This is not a good sign.
Obama taps former Clinton aide for economy team
WASHINGTON (Reuters) - Democrat Barack Obama is bolstering his
economic team for the November White House race against Republican John
McCain and has hired an official from President Bill Clinton's
administration to be his economic policy director, the Obama campaign
said on Monday.
Jason Furman, a 37-year-old expert on fiscal policy, worked as a staff
economist for the White House Council of Economic Advisers during the
Clinton administration and also was a senior director for the National
Economic Council. He has also worked at the World Bank. ...
Furman, who holds a Ph.D. from Harvard University, is an associate
of former U.S. Treasury Secretary Robert Rubin through their work at
the Hamilton Project, a forum for economic policy ideas at the
Brookings Institution think tank.
Is he one of those "deficits don't matter" types?
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In the news
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The following was written by Peter Morici, professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission.
What’s Next for the Fed: The People’s National Bank?
The Federal Reserve has cut the federal funds rate and its short-term lending rate to banks to near zero, but those moves have done little to unlock credit markets. Conventional mortgage money and business loans remain too scarce, as regional banks, which are the arteries and capillaries of our credit system, remain short of loanable funds.
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