Trumps Latest Pick for the Fed Is No Fan of Paper Money

December 8, 2017

Economist Marvin Goodfriend doesn’t like the green paper rectangles in your wallet, which are formally known as “Federal Reserve notes.” His opinion matters, because President Trump has nominated him to the Board of Governors of the Federal Reserve. If confirmed by the Senate to a 14-year term, Goodfriend may take the opportunity to pursue his academic interest in abolishing—or at least demoting—paper money. Goodfriend’s dislike for cash could become an issue in…

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Science Advances One Funeral at a Time. The Latest Nobel Proves It

October 17, 2017

The German physicist Max Planck said that science advances one funeral at a time. Or more friendly rival; they even play tennis together. “In the long run,” Azoulay said, “the best ideas probably win. But in the short run, lots of funky things can happen. Thaler’s career is an embodiment of the beginning and the end of that process.” Peter Coy Bloomberg Businessweek Columnist @petercoy Peter Coy is the economics editor…

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Dr. Doom, at Age 89, Has Ideas About How to Pick the Next Federal Reserve Chief

October 16, 2017

There aren’t many people still working on Wall Street who can blithely say “Bill” when speaking of long-ago Federal Reserve Chairman William McChesney Martin. Henry Kaufman, now 89, is one of them. The Wall Street economist once known as Dr. Doom for his bearish pronouncements on interest rates cited Martin in an Oct. 5 talk that was full of pointed observations about Fed chiefs past, present, and future. Kaufman, who…

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