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Monetarists have long believed that the Fed should pursue policies of low inflation in order to counter the effects of lower prices through enhanced productivity. Thus, they reason, overall prices will remain stable. Such policies actually promote economic instability.
Original article: https://mises.org/mises-wire/futility-price-stability-policies
From the BBC World Service: An alliance of emerging countries — which includes Brazil, South Africa, China and Russia — has criticized the Trump administration’s tariffs, causing the president to threaten them with an extra 10% tariff on trade. And as trade tensions rise, we take a look at how the art of negotiations are being transformed by the U.S. approach to trade deals.
Plus: At least 82 have died in Central Texas following Friday’s flash floods. And Tesla shares drop as Elon Musk promises to create a new political party. Luke Vargas hosts.
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A.M. Edition for July 7. President Trump threatens additional 10% tariffs on countries that align with the Brics group of emerging economies. WSJ deputy editor Quentin Webb says it kicks off a crucial week for trade ahead of a Wednesday deadline for dozens of countries to strike a deal with Washington. Plus, the search for survivors in Central Texas continues after flash floods on Friday killed at least 82 people. And Tesla investors question Elon Musk’s plans to form a new political party and send the stock tumbling in pre-market trade. Luke Vargas hosts.
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“Fierce Aunties” by author Laurel Goodluck (Mandan, Hidatsa, Tsimshian) is a colorful, enthusiastic celebration of the Indigenous women we need in our lives. Goodluck’s children’s book explores the many ways women provide support for the young people who look up to them. Another writer, Virginia Driving Hawk Sneve (Sicangu and Ponca), also explores the power of relatives in her young readers chapter book, “The Summer of the Bone Horses.” The book is also an homage to her late brother by telling an interesting piece of his story on the Rosebud Sioux Reservation in the late 1940s. Among the awards won by the long-time children’s book author and educator is the National Humanities Medal. Both books are illustrated by the talented artist Steph Littlebird (Confederated Tribes of Grand Ronde). We’ll hear from all three women about their work.
Break 1 Music: Xgap’isgu (song) Saltwater Hank (artist) Siip’Nsk (album)
Break 2 Music: Coffee (song) James Bilagody (artist) Near Midnight (album)
California fire season is off to a dangerous start, with experts warning of a severe year ahead. A California man is indicted for sharing a hit list with a white supremacist terror group. Nordstrom announces it will close its Santa Monica store after 15 years, amid concerns over safety. And the L.A. City Council approves a $425 million plan to use “mansion tax” funds for affordable housing and homelessness programs.
More than half of all Americans have used artificial intelligence tools recently, according to a study published by Silicon Valley venture capital firm Menlo Ventures. And one in five people use it daily. Marketplace’s Nova Safo spoke with Amy Wu Martin, a partner at Menlo Ventures, to learn how they’re using it in their day-to-day lives.
Last week, when Paramount, the parent company of CBS News, announced a $16 million settlement with President Trump over editing of a segment of “60 Minutes,” many of the network’s journalists were furious.
The deal also raised questions about the independence of CBS’s journalism, and how much news organizations could be cowed by threats from the president going forward.
David Enrich, an investigations editor at The Times, takes us inside the settlement, and Lowell Bergman, a former CBS producer and investigative journalist at The Times, reminds us that the network has been in a similar situation before and discusses why this time may be different.
First, Edgar Sandoval, who is on the ground in Texas, explains what is happening in the wake of the flooding.
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