A radical trade prescription from the Federal Reserve: Stop complaining about China, and pay U.S. workers better
by Michael Hiltzik, Los Angeles Times
Jun 12, 2018
3 minutes
One doesn't normally look to the Federal Reserve System for radical economic prescriptions, but it's a good place to find reasoned economic analysis. A recent economic brief from the Federal Reserve Bank of St. Louis offers both: a solid explanation of the U.S. trade deficit, and advice to stop blaming China for the decline in U.S. manufacturing.
What makes this radical isn't its substance per se, but its variance from Trump administration orthodoxy. Under the sway of Peter
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