The benefits of free trade have been a cornerstone of economic thought for decades. Recently, though, trade agreements have become the target of a populist backlash, with opposition to trade deals emerging as a key issue in the presidential race. At the same time, new research suggests that trade led to lower wages and higher unemployment for some Americans, particularly middle-class manufacturing workers. We asked Bloomberg View columnists Tyler Cowen and Noah Smith to meet online to debate the pros and cons of trade.
The next action taken by the board on the topic is expected to be a public hearing in early November. With 900-plus drift complaints registered this year the meeting will likely be lengthy and contentious. Read moreRead More »
The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, was up 0.2 percent from April to May 2019 and is 1.8 percent above the May 2018 level. The CPI for all food was up 0.2 percent between April and May 2019, and food prices were 2.0 percent higher[…]Read More »