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It seems almost unavoidable at this point that we are headed for a deep, deep recession. Just based on 200K+ federal firings & pullback of contracts, the March employment report (to be released April 4) seems certain to show bigger job losses than any month ever outside of a few in 2008-9 and 2020.
America cannot long remain free, nor first among nations, if it becomes the kind of place where universities are dismantled because they don't align politically with the current head of the government.

Reposted by Monika Piazzesi

30 years after arriving in the US, I just resigned from Northwestern and we sold our house.

We are an American family, I became a citizen in 2014, and until recently did not expect to ever leave. But now, this no longer feels like the right place to raise a family and pursue a research career.
This will be remembered as the day when America's honor took a deep dive...

And meanwhile #Ukraine will keep fighting for all of us who believe in freedom, justice and democracy

#UkrainianView

www.nytimes.com/video/us/pol...
Video: Trump, Zelensky and Vance Argue Over Ukraine War
President Trump and Vice President JD Vance scolded President Volodymyr Zelensky of Ukraine during a meeting in the Oval Office on Friday, claiming he was not grateful enough for U.S. aid.
www.nytimes.com

Reposted by Monika Piazzesi

🔴 93 UN member states voted for Ukraine’s resolution at the General Assembly. The US and Russia voted against, while China abstained.

The collective project was backed by over 50 countries, including all EU states and Ukraine.

Reposted by Monika Piazzesi

Tomorrow marks the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration camp and we will gather at the @ecb to honour the memory of Holocaust victims, particularly those deported from the Großmarkthalle in Frankfurt, which forms part of our main building. 1/3
I did a NYT video interview—along with voices from Hungary, Nicaragua, and Russia— about how repression works in authoritarian states.

www.nytimes.com/video/opinio...
Video: Opinion | How Tyranny Begins
Tyranny doesn’t happen overnight. Take it from the people who missed the first signs.
www.nytimes.com

Reposted by Monika Piazzesi

I explain my increased enthusiasm for monetary policy rules in my latest WSJ. Not putting policy on autopilot but instead using them as a rebuttable presumption. Specifically would do three things:

Reposted by Monika Piazzesi