Economic Policy

There’s nothing special about the Fed’s target inflation rate

Karen Dynan has been reported as one of a few economists on Biden’s shortlist to replace Lael Brainard on the Federal Reserve Board of Governors. While her proponents have highlighted the Harvard-trained economist’s perfect centrist resume, her recent statements on how best to tackle inflation should concern workers and their allies. And this blithe analysis concerning unemployment should come as no surprise – Dynan, like Biden’s foils in the GOP, believes cuts to Social Security benefits are likely.

There’s a lot to gripe about when discussing the Beltway media class in the United States. Progressives at groups like FAIR and Media Matters have spent years rightfully criticizing the press for access journalism, the ever-present need to equate perspectives from both major parties, and corporate-sponsored PR published under the facade of a news article. But a recent study of biases present in the BBC’s coverage of UK politics may help us understand yet another major failing of our media. Journalists lack an understanding of basic economic principles, leading them to unwittingly flawed reporting.

What parts of the rail strike story don’t get told by mainstream outlets says more than what they do write.

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