When the Federal Reserve adopted an average inflation target in August 2020, I was cautiously optimistic. The period-by-period inflation target it had adopted in 2012 “does not anchor expectations very well,” I wrote at the time. Its new average inflation target, in contrast, should reduce the range of potential inflationary outcomes—and, hence, the risk of
Reprinted from The Constitutionalist After the January 6th Capitol breach, academics promptly got to work on things we do best: self-blame and self-promotion. The breach, it turned out, was sort of our fault. We weren’t antiracist enough, or sufficiently “intentional about leveraging diversity as an educational benefit.” Or we didn’t “encourage the public service ethic” our institutions pledge allegiance to on paper.
Can Africa Offer An Alternative To Russian Gas? Europe is turning to Africa for help with weaning them off their dependence on Russia’s natural gas supply, as the war in Ukraine continues to escalate. It’s a move supported by Akinwumi Adesina, the head of the African Development Bank, who said in March, “Europe is looking for alternative sources of
Harvard Creates $100 Million Fund To Address Racist Past Harvard University plans to commit $100 million to a new endowment fund to address its historical ties to slavery. Harvard President Lawrence Bacow published a letter to the Harvard Community addressing the school’s uncomfortable truth: its “history includes extensive entanglements with slavery.” “And the truth is that
On the night of April 25, North Korea staged a major military parade to commemorate the 90th anniversary of the founding of the Korean People’s Army (KPA). Unsurprisingly, the parade marked a total celebration of the country’s military might, from well-synchronized infantry formations to its strategic nuclear delivery systems. To commemorate the occasion, Kim Jong
Kamala Harris is the latest high-profile Democrat to contract Covid-19. Her office reports that she’s asymptomatic and following CDC protocols. Comically, they also report that she hasn’t been in contact with Joe or Jill Biden in some time. This news comes on the heels of reports last month that Jill Biden did not want Harris
The U.S. military has some of the best tanks on Earth and has invested billions in them over the years. And yet, some are arguing that tanks are now just a 21st-century battleships on land – old, slow, and obsolete. Is this true? – As Russian losses in Ukraine mount, the main battle tank (MBT) could soon join the battleship in the boneyard
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