Jason Furman is a nonresident senior fellow at the Peterson Institute for International Economics and was previously the 28th chair of the Council of Economic Advisers under President Obama. During that time, he acted as the president’s chief economist and played an important role in most of the major economic policies of the Obama administration. Furman has conducted research in a wide range of areas, including fiscal policy and macroeconomics. He is currently a professor of the practice of economic policy at the Harvard Kennedy School.
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Replacing our current antipoverty programs with UBI would in any realistic design make the distribution of income worse, not better. (See page 8)
President Obama’s chief economist argues that, with the right policies, artificial intelligence can be boon to the labor market, not a threat.
Jason Furman argues, “The more level playing field created by our proposed trade agreements increases the returns to complementary policies designed to help expand the U.S. economy and benefit U.S. workers.”
Jason Furman argues, “A range of studies has found that Wal-Mart's prices are 8 percent to 39 percent below the prices of its competitors.”
Jason Furman argues, “The increase in inequality partially reflects factors largely beyond our control, like changes in the nature of technology and the rewards it confers on skills. But it is also a function of poor policy choices—including the failure to adequately fund, staff and expand the education system, along with the dramatic decline in unionization and the real value of the minimum wage.”
“The problem is not the number of jobs. Furman points out that the unemployment rate is 4 percent today. ‘One of the one of strongest laws of economics is that about 95 percent of people who want to work can work.’”
Jason Furman discusses income distribution and its effects on economic growth.
"The BEA should fix the presentation of these data before the next major recession. An easy statistical change is all the Trump administration needs to MAGA: Measure American Growth Accurately."
An interview between James Pethokoukis of American Enterprise Institute (AEI) and Jason Furman.
"The stimulus that started in 2008, was greatly expanded in 2009, and somewhat expanded and extended further in the several years thereafter, was an integral part of the overall macroeconomic response to the financial crisis. Absent these measures the recession would have been much deeper and more prolonged—potentially even more so than conventional models indicate because of the possibilities of self-fulfilling vicious cycles and persistent losses in output. This stimulus acted in a synergistic manner with monetary and financial policy, helping the U.S. economy fare better than many historical precedents and outperforming other countries in the wake of the Great Recession."
"The Federal Reserve has done an outstanding job fulfilling its dual mandate of maximum employment and price stability. To keep the economy in this happy Goldilocks position, the Fed should hold off on raising rates at its December meeting and consider incoming data before deciding when—or even whether—to resume tightening."
"Banking regulation naturally has a pro-cyclical bias. When times are good, there’s a de facto easing of standards, which exacerbates lending booms. Then when asset values crash and defaults proliferate, regulations become tougher to meet, which worsens credit crunches and recessions."
Jason Furman, Harvard Kennedy School professor and former Council of Economic Advisors chair, joins 'Squawk on the Street' to discuss what he sees the Fed doing right, and what he is concerned about.
Chapter 6 "STRENGTHENING THE FINANCIAL SYSTEM" from the The 2017 Economic Report of the President.
Ángel Gurría, secretary-general of the Organization for Economic Cooperation and Development (OECD), presents the OECD’s 2016 Economic Survey of the United States at a joint event held with the Peterson Institute for International Economics (PIIE) on June 16, 2016. Jason Furman, chairman of the White House Council of Economic Advisers, and Adam S. Posen, PIIE president, provide comments.
"This decisive policy response helped the economy return to growth only six months after the President took office and made the United States among the first advanced economies to recover its pre-crisis output per capita."
Jason Furman, former Council of Economic Advisors chairman, discusses how to score the domestic economy and President Trump's economic agenda one year into his administration.
"The U.S. should not waste any more of its negotiating capital on the $200 billion target. Instead, the talks should focus on more-legitimate complaints about China’s unfair practices. In many cases these can be solved by strengthening the hands of reformers, so China continues to take its rightful place as not just one of the world’s major producers but also as one of its leading consumers. The benefits would extend far beyond Beijing."