Jason Furman
Wall Street Journal
Washington, DC, United States
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Past articles by Jason:
The Fed Has to Stay the Course Against Inflation
The arguments for the Fed to back off its interest-rate increases are unpersuasive. → Read More
US job market provides hopeful signs against recession and inflation, but other data are worrisome
The US employment report for June continues to show a strong labor market that is consistent with a strong economy with moderating inflationary pressures. → Read More
The U.S. and Europe Have Different Inflation Problems
It’s more painful on the Continent but more persistent and demand-driven in America. → Read More
The US labor market could be cooling down
The economy added 428,000 jobs in April, a slight slowdown from the pace in recent months. The unemployment rate stayed at 3.6 percent as the labor force participation rate fell and broader measures of unemployment rose. → Read More
A Global Tax System Is Good for the U.S.
Congress should implement the agreement that Yellen negotiated last year. → Read More
Biden’s Better Plan to Tax the Rich
His budget proposes a levy on unrealized capital gains for high-net-worth households. → Read More
Will anchored inflation expectations actually anchor inflation?
The most compelling argument for a benign inflation outlook is that long-run inflation expectations remain anchored about where the Federal Reserve wants them to be. → Read More
Bad News About the Good Inflation News
In the ‘general equilibrium’—the big picture—encouraging signs often have discouraging implications. → Read More
US gained surprising number of jobs in February but wage growth was nearly flat
The economy added 678,000 jobs in February, an increase from the pandemic-affected January numbers and consistent with the rapid pace of job creation in the second half of 2021. The unemployment rate resumed its rapid decline, falling to 3.8 percent as labor force participation increased. → Read More
The US economy grew faster than expected in 2021, but the pandemic transformed its composition
US GDP growth accelerated in the fourth quarter, growing at a 6.9 percent annual growth rate, an increase from the pace of growth over the previous four quarters as the economy continues to recover from the effects of the COVID-19 pandemic. → Read More
Why Did Almost Nobody See Inflation Coming? by Jason Furman
Jason Furman ascribes near-universal forecasting errors in 2021 to not taking economic models seriously enough. → Read More
Four Reasons to Keep Worrying About Inflation
Labor markets are tight, demand remains elevated, and the effects of Covid are highly uncertain. → Read More
Democrats Can Tweak Their Child Allowance to Help Families More
The tax credit is good policy, but it should be targeted to younger kids and those in poor families. → Read More
US met forecasts for job growth in 2021 amid unexpected high labor demand and low labor supply
The latest data sent mixed signals for what happened in US labor markets in November with the normally more reliable payroll survey showing only 210,000 jobs added while the household survey showed a dramatic decline in the unemployment rate to 4.2 percent as labor force participation grew and em → Read More
Jason Furman on what the Federal Reserve should do now
Jason Furman discusses his analysis, “What the Federal Reserve Should Do Now: An Elaboration” set to be published by PIIE on Thursday, explaining why the Federal Reserve has the right framework but needs to make a midcourse correction of its implementation to get inflation under control. → Read More
Biden Can Whip Inflation and Build Back Better at the Same Time
Rising prices are a serious problem, but so are the chronic challenges that the bill aims to confront. → Read More
US makes solid job gains in October but millions are still on the sidelines
The US labor market accelerated in October, reversing the slowdown in job growth in August and September. → Read More
Worker bargaining power has been no match for high inflation
Over the last three months nominal compensation for all US civilian workers rose at a rapid 5.4 percent annual rate—leaving it 0.6 percent above its pre-pandemic trend, according to newly released Employment Cost Index (ECI) data from the Bureau of Labor Statistics (BLS). → Read More
US economy slows in third quarter as spending and business investment growth sag
US GDP growth slowed from its pace over the previous year, falling to a 2.0 percent annual growth rate, around the economy's underlying potential growth rate but not at a pace that would narrow the economy's continued shortfall. → Read More
US workers are getting large raises, but not enough to keep up with higher inflation
Over the last three months nominal compensation for all civilian workers rose at a 2.8 percent annual rate—leaving it at its pre-pandemic trend according to newly released Employment Cost Index (ECI) data from the Bureau of Labor Statistics (BLS). → Read More