Michael Klein

@fletcherschool.bsky.social asked for <=200 words about consequences of the bombing of Iran I wrote 197 on the Economic Fog of War. With the other three I could have included WTF. fletcher.tufts.edu/news-media-m...

How Does the U.S. Tax System Stack Up? | Econofact Voters generally view US taxes as being too high, unfair, and overly complex. How does the U.S. tax system look when compared to other OECD countries?

April 15 is coming. People will complain about the complexity of completing returns (rightly), the high tax rates (not so much) and the rich paying less (depends). Christopher Towe offers an int’l perspective in @econofact.bsky.social econofact.org/how-does-the...

Tariffs: Jobs, Prices, and Retaliation (Re-broadcast) | Econofact Chats A discussion with Kim Clausing on how tariffs can negatively impact consumers, adversely affect domestic industries, and invite retaliatory tariffs from trading partners.

@kclausing.bsky.social also has important insights on the self-destructive effects of tariffs in @econofact.bsky.social econofact.org/podcast/tari...

Trade, Tariffs, the Dollar and the World Economy | Econofact Chats This week, EconoFact Chats features an abridged version of an EconoFact AMA webinar featuring Maurice Obstfeld, former Chief Economist at the IMF.

SCOTUS nixes use of IEEPA. So many reasons why tariffs are a bad idea - Maury Obstfeld explains why in this @econofact.bsky.social interview econofact.org/podcast/trad...

The Rising Burden of Elder Care in the United States | Econofact The U.S. spent about 1.1% of GDP on long-term care for those 65 and over in 2023. The cost rises if you take into account the contribution of informal care.

Eldercare - many of us are at an age where we are either providing it or will soon need it. Charles Collyns discusses in this new @econofact.bsky.social memo econofact.org/the-rising-b...

The Economic Policies of the Second Trump Administration | Econofact Chats Simon Johnson discusses how policies of the 2nd Trump administration have impacted economic growth thus far, and what it might mean for US leadership over the long-term.

@simonjohnson.bsky.social joins @econofact.bsky.social to discuss the new @cepr.org book he co-edited, The Economic Consequences of the Second Trump Administration: A Preliminary Assessment econofact.org/podcast/the-...

What Determines Countries’ Olympic Success? | Econofact Country-level factors can help predict which countries are likely to win the most medals and which countries' women athletes are more likely to succeed.

Is Olympic performance impacted by the economy? 📈🏅 Professor @mwkleinphd.bsky.social's memo in @econofact.bsky.social dives into country-level factors that influence which countries bring home the gold. #MilanoCortina2026 #WinterOlympics #Olympics

econofact.org/what-determi...

The Economic Costs of Brexit on the UK | Econofact Brexit has had a substantial economic impact on the United Kingdom, with adverse effects on investment, productivity, employment, and growth.

Brexit, or other efforts to withdraw from the world economy, are an own goal, as shown by @nickbloom.bsky.social @paulmizen.bsky.social @kingscollegelondon.bsky.social & Greg Thwaites @uniofnottingham.bsky.social in this @econofact.bsky.social post.
econofact.org/the-economic...

Is There an Affordability Crisis? | Econofact Chats Jason Furman notes that affordability isn't necessarily worse now than a year or two, or even decades ago. But there are real concerns too.

@jasonfurman.bsky.social argues in this @econofact.bsky.social podcast that “affordability” is not necessarily worse now, but there are real concerns, especially with the costs of housing, childcare, and medical care. What policies could help? Or hurt?
econofact.org/podcast/is-t...

Lessons from a Decade into Brexit | Econofact Chats Nick Bloom on the consequences of Brexit, and what it can tell us about nations seeking to disengage from the global economy today.

Brexit is considered one of the worst economic "own goals" - but US policies may now rival that. @nickbloom.bsky.social of @stanforduniversity.bsky.social analyzes the effects of the 2016 referendum in this @econofact.bsky.social podcast.
econofact.org/podcast/less...

China’s Export Dominance: A Sign of Both Economic Strength and Weakness | Econofact Chinese dependence on manufacturing as an engine of growth has increased, as resistance to Chinese imports is growing abroad and domestic demand remains low.

China recorded a record trade surplus in 2025, $1.2 t. This reflects both a strength & a weakness for its economy, as explained by Michael Hirson @hotpotwhynot.bsky.social & Houze Song @houzesong.bsky.social in @econofact.bsky.social econofact.org/chinas-expor...

The Risks of Politicizing the Federal Reserve | Econofact Chats Ken Kuttner on how and why central banks are set up to be insulated from political pressure, and the economic consequences of a failure of central bank independence.

The Fed is under attack. How and why are central banks insulated from political pressure and what are the consequences of the breaching of this protection? Kenneth Kuttner (Williams) discusses the role of central bank independence and recent attacks on the Fed econofact.org/podcast/the-...

Wondering what the effects of Trump's tariffs have been? @econofact.bsky.social Weekend Reading (for our Premium Subscribers, but offered for you here) has some answers. eepurl.com/jt6C72

Can We Put a Stop to the Recurrent Threat of Government Shutdowns? (Updated) | Econofact Shutdowns can cost the government more than regular operations and can hurt the economy. There have been over 20 shutdowns in the past 50 years.

@billgale.bsky.social and Ian Berlin write “ The notion that the entire government should shut down because of a disagreement in one particular area – be it health care or clean water or whatever – defies logic and common sense.” @econofact.bsky.social

econofact.org/can-we-put-a...

#Gold prices at an all time high! @charlescollymore.bsky.social and I explain the surge in @econofact.bsky.social - driven by uncertainty and Central Banks econofact.org/why-has-the-...

The Erosion of Central Bank Independence | Econofact Legal independence for central banks has increased around the world. But it is not a one-way road. What conditions lead to an erosion of autonomy?

Kenneth Kuttner analyzes the relationship between a country's inflation rate and the effectiveness of its institutions.
econofact.org/the-erosion-...

The 10-Year Treasury Rate: Why Is It Important and What Can Policy Do About It? | Econofact What is the 10-year Treasury yield? What role does it play in the economy? What determines it? And what (if anything) can the Treasury do to affect it?

What is the 10-year Treasury yield? What role does it play in the economy? What determines it? And what can the Treasury do to affect it?
econofact.org/the-10-year-...

A Changing Economic Geography | Econofact Chats Adam Posen discusses his Foreign Affairs article 'The New Economic Geography: Who Profits in a Post-American World?'

@adamposen.bsky.social discusses how the pursuit of an America first policy could render the US, and much of the world, less economically stable.
econofact.org/podcast/a-ch...

Can We Put a Stop to the Recurrent Threat of Government Shutdowns? | Econofact Shutdowns end up costing the government more than regular operations and can hurt the economy. There have been over 20 shutdowns in the past 50 years.

The impact of politics on the economy This @econofact.bsky.social memo by @wgale.bsky.social is relevant once again econofact.org/can-we-put-a...

US Fed expected to cut rates amid cooling labour market, surging inflation Weakening labour market and higher inflation has put Fed in a ‘difficult’ position even as economists expect a rate cut.

“The [U.S. Federal Reserve] is in a very difficult position right now because there is both a weakening labour market and evidence of higher inflation," says Professor @mwkleinphd.bsky.social of @econofact.bsky.social. @aljazeera.com @andyreports.bsky.social

www.aljazeera.com/economy/2025...

Charles Collyns and @mwkleinphd.bsky.social break down factors driving the recent increase in the price of gold.
econofact.org/why-has-the-...

Leaning on the Fed (Updated) | Econofact The independence of the Federal Reserve helps to ensure that it can make politically difficult decisions that are in the long-run best interest of the economy.

The independence of the Federal Reserve helps ensure it can make politically difficult decisions that are in the long-run best interest of the economy. @mwkleinphd.bsky.social explains: econofact.org/leaning-on-t...

Leaning on the Fed (Updated) | Econofact The independence of the Federal Reserve helps to ensure that it can make politically difficult decisions that are in the long-run best interest of the economy.

@mwkleinphd.bsky.social explains why the Federal Reserve's independence is essential for making politically difficult decisions that are in the long-run best interest of the economy.
econofact.org/leaning-on-t...

What’s the Federal Reserve and Why Is Its Independence Important? Tufts economist Michael Klein explains the dangers for the economy if the president takes control of the Federal Reserve Bank.

In an interview for Tufts Now, Professor @mwkleinphd.bsky.social of @econofact.bsky.social answered the question, "What's the Federal Reserve and why is its independence important?" @tufts.edu

now.tufts.edu/2025/09/11/w...

The U.S. Economy: Still the “Envy of the World”? | Econofact Chats A discussion with Mark Zandi on the impact of tariffs and a restrictive immigration policy on U.S. economic growth and inflation.

@markzandi.bsky.social discusses the state of the economy (worrying), threats to the Fed (chilling), the national debt (rising) and AI (promising) in the new @econofact.bsky.social podcast. econofact.org/podcast/the-...

The Long Shadows Cast By Racism | Econofact Chats The 1921 Tulsa Race Massacre destroyed an area known as “Black Wall Street,” but its effects were felt more widely than in just Oklahoma. In this episode of EconoFact Chats, Lisa D. Cook of Michigan S...

This @econofact.bsky.social podcast episode is an interview with Federal Reserve Governor @drlisadcook.bsky.social on intimidation and racism. econofact.org/podcast/the-...

August 1, 2025 AMERICAN ECONOMIC ASSOCIATION Committee on Economic Statistics and Committee on Government Relations Statement from the American Economic Association on the Dismissal of the BLS Commissioner Leaders of the American Economic Association express their grave concern over the dismissal of the Commissioner of the Bureau of Labor Statistics (BLS) earlier today. The independence of the federal statistical agencies is essential to the proper functioning of a modern economy. Accurate, timely, and impartial statistics are the foundation upon which households, businesses, and policymakers make critical decisions. Undermining the independence or credibility of these agencies threatens the integrity of the information that markets, institutions, and the public rely on every day. Measuring the vast and dynamic U.S. economy in real time is inherently challenging. It is standard practice for statistical estimates to be revised as more complete and higher-quality data become available. These revisions reflect the commitment of statistical agencies to accuracy, transparency, and methodological rigor-not failure or bias. The BLS has long had a well-deserved reputation for professional excellence and nonpartisan integrity. Safeguarding this tradition is vital for the continued health of the U.S. economy and public trust in our institutions. We call upon elected officials to respect and preserve the independence of the nation's statistical infrastructure. Lawrence Katz President, American Economic Association Katharine Abraham President-Elect, American Economic Association Karen Dynan Chair, American Economic Association Committee on Economic Statistics Kenneth Troske Chair, American Economic Association Committee on Government Relations

Statement from the largest economics association about the BLS firing

As context: AEA approximately never makes such public statements

This is a big deal

Are Trump’s tariffs helping or hurting the economy? 6 key facts about U.S. trade. There’s no connection between bigger trade deficits and slower economic growth.

Professor @mwkleinphd.bsky.social of @econofact.bsky.social highlights six key truths about tariffs and trade deficits. @marketwatch.com

www.marketwatch.com/story/does-i...

Has the dollar just had its biggest decline in 50 years? In the first six months of his second term, has President Donald Trump presided over a historic decline in the value of the dollar? That’s close to accurate, and economists are expressing some concern...

Professor @mwkleinphd.bsky.social of @econofact.bsky.social quoted in a piece on the decreasing strength of the USD. @politifact.bsky.social

www.politifact.com/factchecks/2...

Covering What Matters in Economic Journalism | Econofact Chats Heather Long reflects on her career as an economic journalist, highlighting her efforts to look beyond broad statistics to get deeper insights on the state of the economy.

Professor @mwkleinphd.bsky.social interviews @byheatherlong.bsky.social on the importance of telling the stories of everyday people in economic journalism. @econofact.bsky.social

econofact.org/podcast/cove...