David Wessel
@davidmwessel.bsky.social
Director, Hutchins Center on Fiscal & Monetary Policy, Brookings Institution
https://www.brookings.edu/people/david-wessel/
https://www.brookings.edu/people/david-wessel/
Thought we were led to believe that Trump was an isolationist Guess not genius.com/Phil-ochs-co...
Phil Ochs – Cops of the World
[Verse 1] / Come, get out of the way, boys / Quick, get out of the way / You'd better watch what you say, boys / Better watch what you say / We've rammed in your harbor and tied to
genius.com
January 3, 2026 at 4:39 PM
Thought we were led to believe that Trump was an isolationist Guess not genius.com/Phil-ochs-co...
Watch livestream of the panel I'm moderating at ASSA assameeting.bsky.social on the state of US government economic statistics on Monday, Jan 5, at 8 AM EST here: www.aeaweb.org/conference/l... #econsky
January 2, 2026 at 3:25 PM
Watch livestream of the panel I'm moderating at ASSA assameeting.bsky.social on the state of US government economic statistics on Monday, Jan 5, at 8 AM EST here: www.aeaweb.org/conference/l... #econsky
Reposted by David Wessel
Nice job pushing Trump for details on his health — including his hearing difficulty, his swollen ankles, the bleeding/bruising on his hands & his mid-meeting dozing — from the WSJ.
And particular props to Annie Linskey, who was chastised by Dems for reporting on Biden’s age related decline.
And particular props to Annie Linskey, who was chastised by Dems for reporting on Biden’s age related decline.
Trump says that he bruises easily because he takes 325mg of aspirin/day, & has rejected his doctors’ advice to take less.
“They say aspirin is good for thinning out the blood & I don’t want thick blood pouring through my heart…I want nice, thin blood pouring through my heart. Does that make sense?”
“They say aspirin is good for thinning out the blood & I don’t want thick blood pouring through my heart…I want nice, thin blood pouring through my heart. Does that make sense?”
Exclusive | As Signs of Aging Emerge, Trump Responds With Defiance
In an interview, President Trump—the oldest man to assume the office—said he has eschewed some advice from his doctors and regrets getting advanced imaging.
www.wsj.com
January 1, 2026 at 4:38 PM
Nice job pushing Trump for details on his health — including his hearing difficulty, his swollen ankles, the bleeding/bruising on his hands & his mid-meeting dozing — from the WSJ.
And particular props to Annie Linskey, who was chastised by Dems for reporting on Biden’s age related decline.
And particular props to Annie Linskey, who was chastised by Dems for reporting on Biden’s age related decline.
John Arnold on X
2025 had the lowest rate of
- mass shootings since 2006
- homicides since 1950s
- teenage pregnancy in recorded history
- suicides since 2020
- road fatalities since 2019
- drug overdose deaths since 2019
- alcohol consumption in recorded history
- inflation since 2020
2025 had the lowest rate of
- mass shootings since 2006
- homicides since 1950s
- teenage pregnancy in recorded history
- suicides since 2020
- road fatalities since 2019
- drug overdose deaths since 2019
- alcohol consumption in recorded history
- inflation since 2020
January 1, 2026 at 4:41 PM
John Arnold on X
2025 had the lowest rate of
- mass shootings since 2006
- homicides since 1950s
- teenage pregnancy in recorded history
- suicides since 2020
- road fatalities since 2019
- drug overdose deaths since 2019
- alcohol consumption in recorded history
- inflation since 2020
2025 had the lowest rate of
- mass shootings since 2006
- homicides since 1950s
- teenage pregnancy in recorded history
- suicides since 2020
- road fatalities since 2019
- drug overdose deaths since 2019
- alcohol consumption in recorded history
- inflation since 2020
CBO's Jeff Kling & Heidi Williams: How Economists Can Help Inform Economic and Budget Analysis Used by the U.S. Congress. This describes how CBO uses economic research and highlights opportunities for research and other ways to contribute to CBO's work. #econsky www.cbo.gov/system/files...
December 31, 2025 at 7:14 PM
CBO's Jeff Kling & Heidi Williams: How Economists Can Help Inform Economic and Budget Analysis Used by the U.S. Congress. This describes how CBO uses economic research and highlights opportunities for research and other ways to contribute to CBO's work. #econsky www.cbo.gov/system/files...
Trump makes a move on DC’s public golf courses. www.washingtonpost.com/sports/2025/...
Future of D.C. golf courses uncertain as Trump administration terminates lease
National Links Trust, the nonprofit that has run the courses since 2020, objects to Interior Department’s assertion that it hasn’t fulfilled its obligations.
www.washingtonpost.com
December 31, 2025 at 6:35 PM
Trump makes a move on DC’s public golf courses. www.washingtonpost.com/sports/2025/...
Reposted by David Wessel
In just a few hours, Bulgaria will adopt the euro. To mark this special moment, we are illuminating our main building in Frankfurt.
We’re excited to welcome Bulgaria to the euro family 🇪🇺🤝🇧🇬
📸 by ECB
We’re excited to welcome Bulgaria to the euro family 🇪🇺🤝🇧🇬
📸 by ECB
December 31, 2025 at 4:00 PM
In just a few hours, Bulgaria will adopt the euro. To mark this special moment, we are illuminating our main building in Frankfurt.
We’re excited to welcome Bulgaria to the euro family 🇪🇺🤝🇧🇬
📸 by ECB
We’re excited to welcome Bulgaria to the euro family 🇪🇺🤝🇧🇬
📸 by ECB
Reposted by David Wessel
Trumpers are pushing the Somali Medicaid fraud because racism sells and it distracts from the Esptein files deanbaker22.substack.com/p/fraud-drug...
Fraud, Drugs, and Hope for 2026
Trump lies about Somali fraud and drug prices, but there is hope on global warming
deanbaker22.substack.com
December 31, 2025 at 3:42 PM
Trumpers are pushing the Somali Medicaid fraud because racism sells and it distracts from the Esptein files deanbaker22.substack.com/p/fraud-drug...
Julia Coronado reports that BLS has changed its mind on the way it will report housing inflation to deal with the gaps created by the government shutdown. @jc-econ.bsky.social
December 31, 2025 at 4:07 PM
Julia Coronado reports that BLS has changed its mind on the way it will report housing inflation to deal with the gaps created by the government shutdown. @jc-econ.bsky.social
Reposted by David Wessel
BLS clarifies that they will NOT do a one-off change of their rent/OER methodology in April, as their updated FAQ yesterday seemed to imply. h/t Omair Sharif, who I think was the first to pin them down on this. #EconSky #NumbersDay
December 31, 2025 at 2:56 PM
BLS clarifies that they will NOT do a one-off change of their rent/OER methodology in April, as their updated FAQ yesterday seemed to imply. h/t Omair Sharif, who I think was the first to pin them down on this. #EconSky #NumbersDay
FT: US regulators collected 61% less in fines for money laundering and sanctions breaches in 2025, suggesting US is pulling back from its role as the top policeman of the global financial system. giftarticle.ft.com/giftarticle/...
US fines for dirty money drop 61% as Trump retreats from enforcement
Total penalties imposed by financial watchdogs fell to $1.7bn in the year to December 19
giftarticle.ft.com
December 31, 2025 at 2:37 PM
FT: US regulators collected 61% less in fines for money laundering and sanctions breaches in 2025, suggesting US is pulling back from its role as the top policeman of the global financial system. giftarticle.ft.com/giftarticle/...
Mike O'Hanlon & Marta Wonsinka of @brookings.edu offer a three-part test to decide which supply chains are truly vital to US national security -- and which aren't. www.wsj.com/opinion/amer...
Opinion | America Can’t Reshore Everything
We propose a three-part test to decide which supply chains are genuinely vital to U.S. national security.
www.wsj.com
December 31, 2025 at 2:13 PM
Mike O'Hanlon & Marta Wonsinka of @brookings.edu offer a three-part test to decide which supply chains are truly vital to US national security -- and which aren't. www.wsj.com/opinion/amer...
What I learned today (and winced): www.wsj.com/tech/tech-st...
Tech Startups Are Handing Out Free Nicotine Pouches to Boost Productivity
A nicotine replacement for smokers has started popping up in offices in the tech industry, despite health hazards.
www.wsj.com
December 31, 2025 at 1:50 PM
What I learned today (and winced): www.wsj.com/tech/tech-st...
Reposted by David Wessel
Exclusive: The Kennedy Center adopted bylaws earlier this year that limited voting to presidentially appointed trustees, a move that preceded a unanimous decision this month by board members installed by President Donald Trump to add his name to the center.
Kennedy Center changed board rules months before vote to add Trump’s name
The cultural center said only trustees appointed by the president could vote, barring other members, including Democrats who hold seats, from decisions.
www.washingtonpost.com
December 31, 2025 at 1:14 PM
Exclusive: The Kennedy Center adopted bylaws earlier this year that limited voting to presidentially appointed trustees, a move that preceded a unanimous decision this month by board members installed by President Donald Trump to add his name to the center.
Livestreamed sessions from this weekend's American Economic Association annual gathering will be posted at www.aeaweb.org/conference/l...
December 31, 2025 at 1:18 PM
Livestreamed sessions from this weekend's American Economic Association annual gathering will be posted at www.aeaweb.org/conference/l...
Reposted by David Wessel
There it is. The final print edition, after more than 150 years, of the Atlanta Journal Constitution
elink75f.mail.breakermedia.com/ss/c/u001.o7...
elink75f.mail.breakermedia.com/ss/c/u001.o7...
December 31, 2025 at 12:44 AM
There it is. The final print edition, after more than 150 years, of the Atlanta Journal Constitution
elink75f.mail.breakermedia.com/ss/c/u001.o7...
elink75f.mail.breakermedia.com/ss/c/u001.o7...
Reposted by David Wessel
BLS decision on housing locks in a downward bias by removing a month of inflation--this is how data quality erode. Budget cuts may have the agency running scared & erring on the side of methodologies that keep inflation low instead of rigorous best practices
www.bls.gov/cpi/addition...
www.bls.gov/cpi/addition...
2025 federal government shutdown impact on the Consumer Price Index
2025 federal government shutdown impact on the Consumer Price Index
www.bls.gov
December 30, 2025 at 7:22 PM
BLS decision on housing locks in a downward bias by removing a month of inflation--this is how data quality erode. Budget cuts may have the agency running scared & erring on the side of methodologies that keep inflation low instead of rigorous best practices
www.bls.gov/cpi/addition...
www.bls.gov/cpi/addition...
Livestreamed from the ASSA meetings. Jan 5, 8 AM- 10 AM EST: The State of Government Statistics:
- Karen Dynan
- Bill Beach
- Loretta Mester
- Seth Carpenter
- Jed Kolko
moderated by me
www.aeaweb.org/conference/2...
- Karen Dynan
- Bill Beach
- Loretta Mester
- Seth Carpenter
- Jed Kolko
moderated by me
www.aeaweb.org/conference/2...
American Economic Association
www.aeaweb.org
December 30, 2025 at 9:15 PM
Livestreamed from the ASSA meetings. Jan 5, 8 AM- 10 AM EST: The State of Government Statistics:
- Karen Dynan
- Bill Beach
- Loretta Mester
- Seth Carpenter
- Jed Kolko
moderated by me
www.aeaweb.org/conference/2...
- Karen Dynan
- Bill Beach
- Loretta Mester
- Seth Carpenter
- Jed Kolko
moderated by me
www.aeaweb.org/conference/2...
AEJ-Macro: Fed move to stabilize "shortfalls" rather than "deviations" of employment from max raises average inflation and nominal policy rates by 90 basis points, reduces the likelihood of a binding zero lower bound, implies a steeper & nonlinear Phillips curve. www.aeaweb.org/articles?id=...
From Deviations to Shortfalls: The Effects of the FOMC's New Employment Objective
(January 2026) - We analyze the effects of a monetary policy that stabilizes "shortfalls" rather than "deviations" of employment from its maximum level. A shortfalls-stabilization rule leads to expect...
www.aeaweb.org
December 30, 2025 at 7:50 PM
AEJ-Macro: Fed move to stabilize "shortfalls" rather than "deviations" of employment from max raises average inflation and nominal policy rates by 90 basis points, reduces the likelihood of a binding zero lower bound, implies a steeper & nonlinear Phillips curve. www.aeaweb.org/articles?id=...
SCOTUSblog: the Supreme Court & Whether the Fed is Special. www.scotusblog.com/2025/12/the-...
The Supreme Court and whether the Fed is special
On Jan. 21, the Supreme Court will hear arguments in the case of Lisa Cook, a member of the Federal Reserve’s Board of Governors whom President Donald Trump has attempted […]
www.scotusblog.com
December 30, 2025 at 7:46 PM
SCOTUSblog: the Supreme Court & Whether the Fed is Special. www.scotusblog.com/2025/12/the-...
Reposted by David Wessel
NYT just ran a bizarrely credulous piece about New College, the school that DeSantis and Rufo have turned upside down.
There is one good outcome of the article: This @donmoyn.bsky.social post, which is one of the best pieces of media criticism I've read all year.
open.substack.com/pub/donmoyni...
There is one good outcome of the article: This @donmoyn.bsky.social post, which is one of the best pieces of media criticism I've read all year.
open.substack.com/pub/donmoyni...
The NYT Recruiting Brochure for New College
A failing Ron DeSantis higher ed experiment gets a boost
open.substack.com
December 28, 2025 at 8:00 PM
NYT just ran a bizarrely credulous piece about New College, the school that DeSantis and Rufo have turned upside down.
There is one good outcome of the article: This @donmoyn.bsky.social post, which is one of the best pieces of media criticism I've read all year.
open.substack.com/pub/donmoyni...
There is one good outcome of the article: This @donmoyn.bsky.social post, which is one of the best pieces of media criticism I've read all year.
open.substack.com/pub/donmoyni...
Reposted by David Wessel
Here's each G7 country's cumulative increase in real GDP per capita, since just before the pandemic:
🇺🇸 +11.3%
🇮🇹 +7.7%
🇯🇵 +3.7%
🇫🇷 +3.2%
🇬🇧 +0.8%
🇨🇦 +0.5%
🇩🇪 -1.7%
🇺🇸 +11.3%
🇮🇹 +7.7%
🇯🇵 +3.7%
🇫🇷 +3.2%
🇬🇧 +0.8%
🇨🇦 +0.5%
🇩🇪 -1.7%
December 23, 2025 at 10:46 PM
Here's each G7 country's cumulative increase in real GDP per capita, since just before the pandemic:
🇺🇸 +11.3%
🇮🇹 +7.7%
🇯🇵 +3.7%
🇫🇷 +3.2%
🇬🇧 +0.8%
🇨🇦 +0.5%
🇩🇪 -1.7%
🇺🇸 +11.3%
🇮🇹 +7.7%
🇯🇵 +3.7%
🇫🇷 +3.2%
🇬🇧 +0.8%
🇨🇦 +0.5%
🇩🇪 -1.7%
New from UC-Irving eocnomists: #OpportunityZones increased job creation among businesses in targeted areas, but large share of new jobs in zones is offset by declines in nearby low-income tracts. A thread nber.org/papers/w34589
Understanding the Employment Effects of Opportunity Zones
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
nber.org
December 22, 2025 at 7:12 PM
New from UC-Irving eocnomists: #OpportunityZones increased job creation among businesses in targeted areas, but large share of new jobs in zones is offset by declines in nearby low-income tracts. A thread nber.org/papers/w34589
A new dataset made available on the Federal Reserve Bank of New York’s public website contains time-consistent balance sheets and income statements for commercial banks in the United States from 1959 to 2025. libertystreeteconomics.newyorkfed.org/2025/12/a-ne...
A New Public Data Source: Call Reports from 1959 to 2025 - Liberty Street Economics
A new public dataset standardizes key balance sheet data for U.S. commercial banks since 1959—offering researchers a window into industry trends over time.
libertystreeteconomics.newyorkfed.org
December 22, 2025 at 2:54 PM
A new dataset made available on the Federal Reserve Bank of New York’s public website contains time-consistent balance sheets and income statements for commercial banks in the United States from 1959 to 2025. libertystreeteconomics.newyorkfed.org/2025/12/a-ne...
While criticiizing the Fed for the size of its balance sheet, Trump admin is swelling those of Fannie and Freddie www.bloomberg.com/news/article...
Fannie, Freddie Quietly Add Billions to Mortgage-Bond Portfolios
Fannie Mae and Freddie Mac have added billions of dollars of mortgage-backed securities and home loans to their balance sheets in recent months, fueling speculation that they’re trying to push down le...
www.bloomberg.com
December 21, 2025 at 4:05 PM
While criticiizing the Fed for the size of its balance sheet, Trump admin is swelling those of Fannie and Freddie www.bloomberg.com/news/article...