EconoFact Chats

EconoFact Chats regularly hosts a panel of distinguished economic journalists to take stock of key issues affecting the U.S. economy. Since the panel last met in September, the U.S. has been through the longest government shutdown on record, the Supreme Court began hearing arguments on the legality of the Trump administration's tariffs, and the Democrats outperformed expectations in a few elections.

This week, EconoFact Chats welcomes back Binyamin Applebaum of The New York Times, Larry Edelman of The Boston Globe, Scott Horsley of NPR, and Claire Jones of The Financial Times to discuss these events, as well as recent shifts in consumer sentiment, Fed independence, inflation, and the impact of tariffs and lower immigration on the economy.

It's been over six months since the so-called 'Liberation Day' tariffs -- a 10% baseline tariff on all US imports, and additional country-specific tariffs determined by their trade surplus with the US -- came into effect. The Trump administration argued these tariffs would result in a stronger economy, and a revival of American manufacturing. Have they? Chad Bown joins EconoFact Chats to discuss the rollout and consequences of the sweeping tariffs thus far, and how they compare to the tariffs enacted during the first Trump administration.

Chad is the Reginald Jones Senior Fellow at the Peterson Institute for International Economics.

In a new report 'Measuring Access to Opportunity in the United States: A 10-Year Update,' The Annie E. Casey Foundation (AECF) notes that child poverty reduction has proved readily responsive to federal and state policy choices. The percentage of children living in poverty fell to a historic low of 5% in 2021, even as COVID slowed the economy, because programs like the expanded Child Tax Credit supported families. When these programs were wound down, even as the economy recovered, the child poverty rate rose, reaching 13% by 2024. Leslie Boissiere joins EconoFact Chats to discuss the report, highlighting the long-run economic and social costs of childhood poverty, and the role of public policy in addressing this problem.

Leslie is the Vice President for External Affairs at the Annie E. Casey Foundation. She oversees the foundation's KIDS COUNT effort, as well as the areas of policy reform and advocacy, strategic communications, organizational effectiveness, and national partnerships.

The United States fostered a post-World War II rules-based international economic order that benefitted both itself and many other countries. But recent changes in United States’ policies have altered trade relationships and the international role of the dollar. Oleg Itskhoki joins EconoFact Chats to discuss the sources and consequences of these shifts in the international economic order, discussing topics like the role of an economic hegemon, recent outcomes in foreign exchange, stock, and bond markets, and whether tariffs can reduce trade deficits. He also highlights the risks of a more fragmented world economy as the United States pursues a confrontational, rather than cooperative, international economic policy.

Oleg is a Professor of Economics at Harvard. He was awarded the prestigious John Bates Clark Medal by the American Economic Association in 2022 which recognizes the American economist under the age of forty who is judged to have made the most significant contribution to economics.

In their new book 'Fixed: Why Personal Finance is Broken and How to Make It Work for Everyone,' John Campbell and Tarun Ramadorai highlight how personal finance markets in the US and across the globe often benefit the wealthy and more educated at the expense of those with fewer advantages. This feature of financial markets, along with the inherent difficulty in making financial decisions, makes it difficult for regular consumers to make sound decisions about investing and borrowing.

John joins EconoFact Chats to discuss his book, offering practical advice on topics like saving for college, getting a mortgage, making investment decisions, and creating an emergency fund for hard times. He also proposes some solutions to make personal finance work better for everyone.

John is the Morton L. and Carole S. Olshan Professor of Economics at Harvard University.

While it is often thought that adolescence begins and ends with puberty, new research shows that the development of cognitive skills, emotional development, and social skills that starts in the early teen years continues into the mid-twenties. In her new book 'Thrive,' Lisa Lawson, President and CEO of the Annie E. Casey Foundation, points out that failure to build on investments throughout this longer period of adolescence can result in missed mental and emotional growth, leaving young people less well equipped to lead independent, successful lives. Lisa joins EconoFact Chats to discuss her new book, and highlight how fam­i­lies, com­mu­ni­ties and pub­lic sys­tems can support programs and policies that build strong, resilient young people.

This week, EconoFact Chats features an abridged version of an EconoFact Ask Me Anything Webinar held on September 17th featuring Tara Watson, Director of the Center for Economic Security and Opportunity at the Brookings Institution. The AMA focused on the role of immigrants in the U.S. labor force, the extent and types of deportations seen currently, the economic effects of stepped-up immigration enforcement, and the availability of reliable immigration and deportation data.

Tara is the John C. and Nancy D. Whitehead Chair, and a Senior Fellow in Economic Studies at Brookings. Her most recent book is 'The Border Within: The Economics of Immigration in an Age of Fear.'

 

EconoFact’s monthly Ask Me Anything Webinars are exclusively available to our Premium Subscribers. The modest $50 annual fee for becoming a Premium Subscriber supports EconoFact and its efforts to bring timely, accessible, unbiased, and nonpartisan analyses on important economic and social policy issues to the public. You can sign-up for a Premium Subscription at https://secure.touchnet.net/C21525_ustores/web/store_main.jsp?STOREID=157

The post-war international economic order was based on two fundamental pillars: American leadership and multilateralism. Both of those are, to some extent, under threat today. The United States is on a different path with respect to international economic relations, than had been the case over the past decades. Increasing tariffs are just one example of a reversal of prior efforts aimed at greater globalization and more economic integration. This reversal has not just occurred in the United States: Brexit stands as a prime example. What have been the forces driving a splintering in globalization? Are there historical precedents for this? What type of international economic regime is likely to emerge? Professor Jeffry Frieden joins EconoFact Chats to address these questions and discuss present and past linkages between domestic politics and international economics.

Jeff is Professor of International and Public Affairs and Political Science at Columbia University, and Professor of Government emeritus at Harvard University. His teaching and research focus on the politics of international economic relations.

The Trump Administration claims tariffs will help protect American jobs, revitalize manufacturing, and raise revenues, while keeping prices stable. While it may be too soon to evaluate some of these expected outcomes, pioneering efforts by Alberto Cavallo in gathering real time price data on goods, distinguished by their country of origin, makes it possible to analyze how tariffs are affecting prices. Alberto joins EconoFact Chats to discuss who bears the cost increases from the tariffs, the role of policy uncertainty in companies’ pricing decisions, and the cumulative effects of tariffs on prices.

Alberto is the Thomas S. Murphy Professor of Business Administration at Harvard Business School. He co-founded PriceStats, the leading private source of inflation statistics in over 20 countries.

Binyamin Applebaum of The New York Times, Larry Edelman of The Boston Globe, Scott Horsley of NPR, and Claire Jones, the US Economics Editor The Financial Times join EconoFact Chats for a wide ranging discussion on the U.S. economy, focusing on the weaker than expected jobs reports, high inflation, the importance of reliable government statistics, the independence of the Federal Reserve, immigration enforcement, demographic shifts, and continued tariff uncertainty.