David Wessel

Spike in oil and natural gas prices is a windfall…for Russia

Congestion Pricing Wins in Court After Lengthy Battle With Trump

A federal judge ruled that the federal government’s attempt to end New York’s congestion pricing toll was illegal, handing a major victory to the state in its defense of its traffic reduction plan, which the Trump administration had tried for more than a year to kill
www.nytimes.com/2026/03/03/n...

In his remarks, John Williams cited the research from NY Fed economists that led Kevin Hassett to call for the researchers to be "disciplined."

Williams told reporters afterward that the research was "incredibly well done" and "incredibly important."

Next steps for GENIUS payment stablecoins | Brookings Recommendations on what regulators might do to make stablecoins trusted payments and ensure financial stability

Nellie Liang & Bill Dudley: Next steps for GENIUS stablecoins. What regulators need to do to make them trusted payments and ensure financial stability. www.brookings.edu/articles/nex... via @brookings.edu Hutchins Center

Axel Springer acquires Bisnow to expand American media portfolio - Washington Business Journal Bisnow has joined a growing media empire.

Axel Springer, German media firm that owns Politico and Business Insider and Morning Brew, has acquired commercial real estate media and events business Bisnow. Terms weren't announced. Sold by Wicks Group which acquired Bisnow for reported $50 million in 2016. www.bizjournals.com/washington/n...

War in Iran: What happens next? www.brookings.edu/events/us-ir.... 2 PM EST @brookings.edu (On-line only)

Opinion | JD Vance Has His Reasons

Tom Edsall traces J D Vance's political conversion to an anti-liberal, authoritarian philosophy. www.nytimes.com/2026/03/03/o...

More Than F-35: Why Does the F-15EX Cost $97,000,000 Per Fighter? Summary and Key Points: The Boeing F-15EX was initially seen as a cost-effective alternative to more advanced fighters like the F-35. -However, its price has steadily increased, surpassing even the F-...

Those three F-15s that the Kuwaitis shot down in friendly fire attack cost $97 million *each*
nationalinterest.org/blog/buzz/mo...

Opinion | U.S. LNG Exports to the World’s Rescue Ten years ago, Cheniere Energy began an export boom that is saving the world economy today.

The U.S. now exports about as much gas to Europe as Russia did before the war. From @wsj.com editorial page
www.wsj.com/opinion/amer...

But

Chart o morning: Natural gas prices soar in Europe and Asia. Could be bigger shock than supply lost from Russia, says @financialtimes.com

Iran executes Khamenei’s plan to spread regional war Strikes on energy facilities and targets across Middle East form strategy devised to sow chaos in retaliation for US and Israeli attack

Iran is believed to have fired almost as many, if not more, drones and missiles at the UAE, the regional dominant trade and tourism hub, than at Israel. @financialtimes.com
giftarticle.ft.com/giftarticle/...

Trump just held a press conference about war with Iran, and spent much of it talking about drapes and his ballroom. I guess those are the drapes of wrath???

The appeals court has now rejected the DOJ request, which in practice means that the court took a procedural step in the direction of starting the long fight over tariff refunds. Today's order: www.courtlistener.com/docket/70394...

War in Iran: What happens next? March 3. 2 PM EST. On-line only @brookings.edu www.brookings.edu/events/us-ir...

Iran's bitcoin economy: Will U.S.-Israeli airstrikes target its mining farms? Iran Is Believed to Account for Roughly 15% of Global Bitcoin Production – a Key Source of Foreign Currency for Tehran. If Its Mining Infrastructure Is Hit, Would Prices Move or Would the Market Barel...

Crypto angle to everything. www.haaretz.com/middle-east-...

Special Edition: A Questionable War of Choice (February 28, 2026) The United States launched a major armed attack on Iran Saturday, striking military and political targets throughout the country.

Richard Haass offers 13-point criticism of Trump's war on Iranl "A Questionable War of Choice" open.substack.com/pub/richardh...

Churchill on politicians and war (via @nytimes.com )

Wars always are easier to start than to finish, especially when you've set a political goal of regime change, rather than a clearly defined military objective. President Vladimir Putin thought he would take Kyiv in a week. Israel thought it would throttle Hamas in a few months. But wars to erase a regime don't work like that.

Via David Ignatius

www.washingtonpost.com/opinions/202...

The Economics of Technological Change What history and models can (and can’t) tell us about AI

@pkrugman.bsky.social at his most trenchant. The Economics of Technological Change: What history and models can (and can’t) tell us about AI open.substack.com/pub/paulkrug...

you're right. apologies.

WSJ editorial page vs NYTimes editorial page on Trump's war on Iran

People keep comparing MAGA/ICE/CBP/MAHA to 1930s Germany.

It's also more and more like late 1960s China, during Cultural Revolution. Or mid 1970s Cambodia, during "Year Zero."

A war against knowledge itself.

thehill.com/policy/defen...

What Fed Chairman Alan Greenspan Taught Me For Greenspan’s 100th birthday, veteran Fed reporter David Wessel reflects on the former chair’s time at the central bank.

Reminiscing about covering Greenspan for @wsj.com
on the occasion of his 100th birthday (March 6) www.barrons.com/articles/ala...

Robert F Kennedy Jr: 1 year of failure In his first speech as Secretary of the US Department of Health and Human Services (HHS), Robert F Kennedy Jr laid out a plan to restore trust. The COVID-19 pandemic saw public faith in Federal health...

Robert F Kennedy Jr: 1 year of failure - The Lancet www.thelancet.com/journals/lan...

Cover of The Lancet, Feb 28, 2026, issue www.thelancet.com/journals/lan...

This is amazing.

www.getyourfuckingmoneyback.com

JCT is live streaming its 100th birthday celebration on March 4. (I'm on the panel) www.jct.gov/live-stream/

CBO answers this question: What happens to our debt and deficit projections of the US economy grows much faster than our forecast? www.cbo.gov/publication/...

What Fed Chairman Alan Greenspan Taught Me For Greenspan’s 100th birthday, veteran Fed reporter David Wessel reflects on the former chair’s time at the central bank.

Reminiscing about covering Greenspan for @wsj.com on the occasional of his 100th birthday (March 6) www.barrons.com/articles/ala...