Matthew C. Klein
@M_C_Klein
Founder of THE OVERSHOOT and UN/BALANCED | co-author of TRADE WARS ARE CLASS WARS | For speaking: https://www.chartwellspeakers.com/speaker/matthew-klein/
New at THE OVERSHOOT: Inflation, Trump, and the Fed theovershoot.co/p/inflation-tr… There is no sane reason for the Fed to cut much, if at all. But the wannabe Erdogan (with a pinch of Nixon) has different ideas.
New at THE OVERSHOOT: Inflation, Trump, and the Fed theovershoot.co/p/inflation-tr… There is no sane reason for the Fed to cut much, if at all. But the wannabe Erdogan (with a pinch of Nixon) has different ideas.
"Right to financial privacy"
We don’t make trade-offs with Americans’ rights. Today, we will pass our Anti-CBDC Surveillance State Act to prohibit rogue bureaucrats at the Fed from stripping the American people of their right to financial privacy.
If the State Department doesn't renew funding for Freedom House's China Dissent Monitor, the world will lose an entire category of knowledge about how people in China are actually experiencing life under CCP governance. Read my latest, for @ASPI_org: aspistrategist.org.au/the-last-publi…
Wrote a column for Semafor about how the administration's efforts to suborn the Fed remind me of what Nixon did to Arthur Burns, as well as what Erdoğan has done to Türkiye: semafor.com/article/07/17/… (no paywall!)
Reminder: If foreign producers eat the cost of tariffs by lowering USD prices to maintain real volumes (which so far they are not) then a) foreigners have less income to buy U.S. exports and b) U.S. manufacturers do not become more competitive in the U.S. market
Worth rereading pages 134-150 (hardcover edition) of Sebastian Mallaby's The Man Who Knew
One thing I want to add is that Başçı was the stooge they tried to appoint since the AKP came to power. After he became chair, he did a lot of dovish shenanigans, but the attacks just intensified. Then Erdoğan fired the even more dovish successor too.
"whoever coined a name for 'already overpolluted river system that is a hair’s breadth away from toxic algal bloom catastrophe', and decided that it should be called a 'nutrient neutrality zone' deserves whatever the opposite is of a Nobel Prize" backofmind.substack.com/p/toward-a-the…
The BLS's issues with CPI data collection appear to be getting worse. The share of uncollected items subject to "different cell" imputation (meaning they're based on different items or items from different geographies) hit another record last month. (Data goes back to 2019.)
Art of the deal in two WSJ stories. ➡️ We unilaterally indicate we’ll remove export controls on the H20 so Beijing can dominate AI and seemingly ask for nothing in return. ➡️ On the very same day, Beijing slaps export controls on battery technology.
Breaking: Donald Trump has privately encouraged Ukraine to step up deep strikes on Russian territory, even asking Volodymyr Zelenskyy whether he could strike Moscow if the US provided long-range weapons, according to people briefed on the discussions. on.ft.com/4kBEjCE
Breaking: Donald Trump has privately encouraged Ukraine to step up deep strikes on Russian territory, even asking Volodymyr Zelenskyy whether he could strike Moscow if the US provided long-range weapons, according to people briefed on the discussions. on.ft.com/4kBEjCE
Great piece. This is a good week for Matts writing about macroeconomic policy shenanigans in upper middle income countries
There is so much to learn from Türkiye's experiences with capital flight, political instability, and the perils of monetary heterodoxy: theovershoot.co/p/how-turkiye-…
There is so much to learn from Türkiye's experiences with capital flight, political instability, and the perils of monetary heterodoxy: theovershoot.co/p/how-turkiye-…
Have yet to see an Autor/Dorn/Hanson denier grapple with this paper on the link between income displacement from imports and rising household indebtedness in the 2000-2007 period: newyorkfed.org/research/staff…