News
The Answer to AI’s Power Problem? Free Markets
2+ hour ago (385+ words) Less regulation can ensure data centers pay their own way. Artificial intelligence (AI) companies may be booming, but they're still struggling to get around a fundamental constraint: an insatiable demand for electricity. The federal government isn't likely to help them....
Trump’s Fed Pick Kevin Warsh Could Be Just What the Central Bank Needs
1+ week, 3+ day ago (411+ words) If he acts in harmony with his past statements, Kevin Warsh could restore the Fed's integrity and independence. In some ways, Warsh is an obvious pick: he looks the part, was a former Fed governor, and is close to the…...
A 50-Year Mortgage Won’t Fix Our Housing Problem
2+ mon, 2+ week ago (459+ words) The solutions to spiraling home costs can be found on the supply side. Housing affordability is one of the defining issues of our time, and nowhere is this more evident than in New York City. Mayor-elect Zohran Mamdani toppled Gotham's…...
Price Controls Won’t Solve the Affordability Crisis
2+ mon, 3+ week ago (265+ words) A New York Times defense of the policy falls flat. The success of political slogans often brings forth intellectual defenders, even when the slogans themselves lack merit. Calls to "freeze the rent" and cap electricity prices before this month's election…...
Blackstone Doesn’t Hurt the Housing Market—It Helps It
5+ mon, 4+ week ago (562+ words) Those who condemn the investment firm ignore the benefits of private equity. The recent murder of Blackstone real-estate executive Wesley LePatner, one of the victims of the 345 Park Avenue shooting in New York, elicited horror among most Americans. But some…...
Why Is Economic Data Disappearing?
6+ mon, 3+ day ago (475+ words) Leaders like Donald Trump and Chinese president Xi Jinping want the vibes of a good economy'and now. What matters more: actual economic performance or the perception of it? Fundamentals clearly influence public opinion: if the economy is growing rapidly, people…...
Have Trump’s Tariffs Raised Consumer Prices? It’s Complicated
6+ mon, 2+ week ago (616+ words) The June inflation report shows bigger price jumps in domestic sectors than in import-heavy ones. Though opposition to President Trump's tariffs comes from many quarters, most critics focus on their cost to American consumers. A jump in consumer prices in…...
The Danger of Ignoring Economic Trade-Offs
7+ mon, 3+ day ago (349+ words) For too long, policymakers and businesses have made decisions on the belief that costs don't matter. Reality is reasserting itself. Trade-offs are unavoidable, and ignoring them leads to consequences'often dangerous ones. Unfortunately, even as interest rates have risen, free-lunch thinking…...
Neoliberalism Needs a Reboot, Not a Requiem
7+ mon, 2+ week ago (639+ words) Our best economic future lies in synthesizing the insights of the free market's critics and defenders. Much of our current prosperity still rests on that foundation. The burden of proof should fall on those who want to dismantle it'not on…...
Moody’s Downgrade of U.S. Credit Rating: an Exercise in Theater
8+ mon, 1+ week ago (389+ words) Washington's ballooning debt levels are a problem, but the likelihood of a default is nil. The concern is well-founded. For years, federal budget policy has been profligate, posing real risks to the nation's long-term prosperity and stability. Every American has…...