Federal Reserve vice chairwoman Janet Yellen is a few hours into her grilling by the Senate banking committee, which is part of the process that will most likely confirm her as the first-ever female head of the Federal Reserve. …
Grading China’s Communist Party Meeting: Big Talk, But C- Work
Governments always play catch up with markets. Today, China’s Communist Party ended its third plenum meeting laying out the country’s future development path, announcing that markets would have a “decisive” role in …
What the Elections Tell Us About America’s Inequality Problem
What do the elections of New York mayor Bill DeBlasio and New Jersey governor Chris Christie have in common? The wealth gap. As the latest jobs numbers show, we may be in a recovery, but it’s not one that the average person can …
Sorry, Our Economy Is Still in Structural Decline
The pick up in economic growth that was just announced this quarter doesn’t comfort me. In fact, it shows why our economy is still in what I believe is a structural decline. Yes, growth was up 2.8% in the quarter ending …
For Leaders, Sorry Seems to Be the Hardest Word
It’s been quite a week for CEO and government official apologies, from Kathleen Sebelius taking the fall for the continuing problems surrounding the roll out of Obamacare, to upscale New York department store Barney’s …
Foroohar: Housing Will Not Save the Economy
When it comes to the U.S. economic recovery, the conventional wisdom is that it’s all about housing. That’s where the majority of Americans keep the majority of their wealth. It’s 15% of the economy and has been driving …
Foroohar: What Obamacare Can Learn From Britain’s National Health Service
My opinions about health care in the U.S. — including the current fiasco over the technical glitches in the launch of Obamacare — are forever shaped by my experience living and working in Europe for nearly a decade. From 1999 …
Foroohar: Is Globalization Over?
A fascinating piece today in the FT’s comment and analysis section made the point that there’s a sea change happening in world trade. For 30 years, it’s been growing twice as fast as the global economy itself. Now, for the …
Foroohar: To Compete, America Needs 6-Year High Schools
Back in April of 2012, I wrote a column touting a 6-year high school in Brooklyn as a model for a new kind of secondary education. On Friday, President Obama traveled to New York to visit this same school, the Pathways in …
Money Talking: DC’s Debt Deal Gets a ‘C-‘
The federal government is up and running after a last-minute deal between Republicans and Democrats ended the shutdown. The agreement also raised the debt ceiling so the government can pay its bills—for now. Washington will …
Foroohar: Chaos in DC Is Taking Its Toll on the Dollar
The shutdown is over; the U.S. dollar remains the world’s reserve currency. But for how much longer? At what point will foreign creditors and the markets at large begin rethinking their asset allocation, and moving slowly away …
Foroohar: Washington Dysfunction Is Hurting GDP Growth
It’s also cost the country an additional 2 million jobs