The Hack Gap: Interest Rate Edition

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I would like to offer a comment on the hack gap this morning:

It’s remarkable the number of liberal economists who continue to favor an interest rate cut from the Fed. They are displaying intellectually honesty here: with inflation low, there’s no reason not to take out an insurance policy that could keep the current economic expansion going for a while longer, despite the fact that it would help Donald Trump politically.

Conservative economists, by contrast, have almost universally changed their opinions, favoring high interest rates when Obama was president and now favoring low rates when Trump is president.

I’m too lazy to create an actual list of liberal and conservative economists to see whose positions have changed and whose haven’t. Maybe someone can do it and prove me wrong. But I doubt it.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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