It is more important
It is more important what the jobs report shows in December and January — that will affect how many rate hikes we’ll have this spring. David Malpass
David Malpass
When Congress legislates in
When Congress legislates in haste, it often causes more problems than it solves. But Congress rarely reconsiders its mistakes. David Malpass
The tenth amendment said
The tenth amendment said the federal government is supposed to only have powers that were explicitly given in the Constitution. I think the federal government’s gone way beyond that. The Constitution never said that you could have a Federal Reserve that would have $2.8 trillion in assets. We’ve gotten out of control. David Malpass
To win elections, politicians
To win elections, politicians have promised practically endless government spending and covered up the cost, leaving generations of taxpayers obligated to pay off the debt. That’s wrong, but neither the U.S. nor Europe has a plan to stop it. David Malpass
The Fed should make
The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but dont fix the underlying problems. David Malpass
Already were seeing graduates
Already were seeing graduates of U.S. higher education going back to their home countries and contributing to societies there, where in the past they would have stayed in the U.S. and built new companies here. We have to have immigration reform that allows talented foreigners to become Americans. David Malpass
Politicians are addicted to
Politicians are addicted to spending and revenue extraction. As with an addict, there’s little pause for moral or legal contemplation. David Malpass