Energy, Climate, New Economic Thinking​

Day: February 27, 2021

Powell’s Econ 101: Jobs not inflation. And forget about the money supply

Toss out the college textbooks, because the world has changed. The unemployment rate? Forget it. The Fed only cares about the number of people working and how to get it higher, not an age-old statistic that, for all its familiarity, overlooks a key group, namely those who stopped looking for work during the pandemic and need to be brought back. Inflation? Not a problem anytime soon. Queried by Democratic U.S. Senator Mark Warner about the need to make “a sizeable investment” in U.S. infrastructure, Powell set aside classic concerns of hefty government borrowing driving up prices and responded “this is

New Energy Secretary Jennifer Granholm has advice for Texas — and for the oil industry

Jennifer Granholm, who was confirmed as secretary of energy by the Senate on Thursday, takes over a department with a $35 billion budget for an administration that has enthusiastically promoted the further development of clean energy. Even as the Senate vote was tallied, state legislators in Texas were holding hearings on the colossal power failures there of the week before. In a Friday interview with The Washington Post, Granholm had some advice for Texas. But with General Motors vowing to build only electric vehicles by 2035, the former governor of Michigan comes to office on the cusp of national transition.