Paul A. Volcker ’49, a formidable force in U.S. government who led the Federal Reserve to quell inflation in the late 1970s and early 80s, died on Dec. 8 in New York. He was 92.
Working-class citizens have been historically underrepresented in American politics.
In this episode, Julian Zelizer and Sam Wang discuss the influence of money in politics — both in terms of who rises to elected office and how those elected govern — with political scientist Nicholas Carnes.
The recently passed tax bill included a sizable tax break for many American corporations, slashed from 35 percent to 21 percent. While the tax cuts have increased cash flow for businesses, they also raise questions about the power of corporations in Washington through lobbying, campaign finance and political mobilization.
Many argue the Great Recession could have been ameliorated through strategic policies, but the government ignored warning signs of coming economic distress. Instead, increased borrowing incited a financial and real estate boom, which resulted in a bubble that eventually burst.
According to data recently released by the Federal Reserve, the amount of outstanding debt that Americans hold — often in the form of credit card debt — hit a new high at $1.021 trillion in June 2017, topping the...
President Donald Trump announced an outline of his new tax plan this week, proposing sharp reductions in individual and business income tax rates and a new tax code that could significantly benefit the wealthy.
The Federal Reserve raised interest rates from record lows on Dec. 16, beginning what many expect to be a period of further increases.