Professor Peter Morici, of the Robert H. Smith School of Business at the University of Maryland, is a recognized expert on economic policy and international economics. Prior to joining the university, he served as director of the Office of Economics at the U.S. International Trade Commission. He is the author of 18 books and monographs and has published widely in leading public policy and business journals, including the Harvard Business Review and Foreign Policy. Morici has lectured and offered executive programs at more than 100 institutions, including Columbia University, the Harvard Business School and Oxford University. His views are frequently featured on CNN, CBS, BBC, FOX, ABC, CNBC, NPR, NPB and national broadcast networks around the world.
That's just one of five things to know when the Fed raises interest rates. Bank fees and car loans will go up. But jobs and the economy will continue growing.
Like Bernanke, Yellen will find that global investors limit the consequences of pushing up fed funds rates. Here’s how globalization curbs the federal reserve’s options and impact.
So much for the Asian century -- America will again define global growth and the bull market will resume.
The best untapped potential for well-paying jobs remains with U.S. manufacturers, which are burdened by an artificially strong dollar and skill shortages.
The Shanghai market collapse and Beijing's efforts to reverse it have had limited effects on Western markets, but soon, the fallout from Chinese government market meddling may be less benign.
Congress should also make sure highway taxes are used for the roads, not to finance politicians' pet projects and line union pockets.
Greece has committed to more austerity and arduous reforms to keep the euro, but success requires equally significant but unlikely changes from Germany.
The Greek Parliament should reject Greece's third bailout, dump the euro and reintroduce the drachma.
Germany has much to lose by forcing the Aegean nation to choose between more austerity and dumping the euro.
The Fed will finally be convinced that the American economy is getting healthy and that easy credit has done as much as it can to heal labor markets.
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