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News Coverage Mar 9, 2018

Pacific Standard: How to Give American Workers Fair Wages

Last month, the Hamilton Project at the Brookings Institution convened a panel to discuss solutions to this problem; the event coincided with the release of a new e-book from theHamilton Project that's chock full of proposals to address wage stagnation. ‘Coming out of a very deep recession, there's often a single-minded focus on jobs, jobs, jobs,’ says Jay Shambaugh, an economist and the director of the Hamilton Project. ‘But as theunemployment rate comes down, at a certain point, it's important to think about what thereturn on those jobs is. And if you look at the broader sweep of history, the returns to work for the typical worker have not been growing.’

News Coverage Mar 6, 2018

Equitablog: What would lead to monetary overshooting by the Fed?

But perhaps a new target alone wouldn’t be enough. At an event last week hosted by the Hamilton Project, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, argued that a strong belief in a “nonlinear relationship” between unemployment and inflation among many monetary policymakers is why the Fed has hiked interest rate hikes when the rate of inflation was still below target.

News Coverage Mar 5, 2018

Conversable Economist: Rebalancing the Economy Toward Workers and Wages

Are there some ways to tip the balance a bit more toward workers? Jay Shambaugh and Ryan Nunn have edited an ebook, Revitalizing Wage Growth: Policies to Get American Workers a Raise, with nine chapters on causes of wage stagnation and policy proposals to address it (published by the Hamilton Project at the Brookings Institution, February 2018, full Table of Contents is appended below). Given that the US unemployment rate has now been 5% or less for more than two years, since September 2016, the question of wage growth is rightfully assuming high importance.

News Coverage Mar 1, 2018

MarketWatch: Overheat? A few say the Powell Fed is chasing after shadows

In a speech in Washington on Wednesday, Kashkari suggested he didn’t want the Fed to tap on the brakes until wage growth and inflation move higher. “I think we should allow this [economy] to continue to run,” Kashkari said. “I want to see wage growth continue to build, I want to see inflation move towards our 2% target,[ and] I want to see more evidence that the slack in the labor market is being used up,” he said at the HamiltonProject in Washington.

News Coverage Feb 28, 2018

U.S. News & World Report: Fed’s Kashkari: ‘I Want to See the Wage Growth’

'I want wage growth to continue to build, I want to see inflation move toward our 2-percent target, I want to see more evidence that the slack in the labor market is being used up: those are going to be the key factors that I pay attention to in making my recommendation,’ Minneapolis Federal Reserve President Neel Kashkari said at an event on the roots of slow wage growth at the Hamilton Project in Washington.

News Coverage Feb 22, 2018

The Washington Post: America Needs a Universal Paid Leave Program

“It’s time to enact a national universal paid leave program. It should include the principles laid out by the Washington Center for Equitable Growth’s Bridget Ansel and Heather Boushey in a paper published last fall by the Hamilton Project: Offer at least 12 weeks of leave to men and women for childbirth and adoption, care of a relative’s serious medical condition or a personal medical issue; cover all private-sector workers; and pay those workers a replacement wage high enough to make a difference in their lives. Doing so would provide an immense benefit to workers and their families and be very good for the overall economy.”

News Coverage Feb 14, 2018

Mic: Dow Jones Today: Why the Stock Market Had a Mini-Freakout About the Inflation Rate – Then Recovered

“Plus, some economists point out that while month-to-month prices changes missed expectations, the year-to-year downtrend in inflation is more important. After all, inflation is still below the Fed’s 2% target, suggesting the Fed might feel less pressure to raise rates quickly — a point Jay Shambaugh, who served as an adviser to former President Barack Obama, made on Twitter.”

News Coverage Feb 14, 2018

Vox: Why American Doctors Keep Doing Expensive Procedures That Don’t Work

“A proposal from the Hamilton Project would give the Centers for Medicare and Medicaid Services (CMS) more resources to scrutinize medical technologies and allow the agency to experiment with ‘reference pricing’: Medicare would pay a single price for all treatments, for a given condition, that have similar therapeutic effects, up to a cost-effectiveness threshold. Patients who want to receive less cost-effective treatments could still get them, but they’d have to pay any difference out of pocket. That strikes the right balance.”

News Coverage Jan 8, 2018

The Atlantic: The False Promises of Worker Retraining

A study by the Brooking Institution’s Hamilton Project estimated that, because such requirements discourage people from pursuing some careers, the rules have resulted in 2.85 million fewer jobs nationwide. The study found that around 30 percent of American workers need a license to perform their jobs; in the early 1950s, less than 5 percent did. About 800 occupations—from emergency medical technicians to cosmetologists to interior designers—are licensed by at least one state.