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  • How to Handle Victory in King v. Burwell

    A Supreme Court ruling on King v. Burwell in favor of the plaintiffs would force Congress and President Obama to the negotiating table. Besides passing legislation that allows already-promised subsides to remain, this could be used as an opportunity to return flexibility and state control to health insurance markets.

  • Independence, Accountability, and Transparency: Three Keywords for the Fed

    Monetary policymakers always face tradeoffs, and today provides no exception.  By holding interest rates lower, for longer, Federal Reserve officials might temporarily strengthen the economy, but only at the cost of risking higher inflation down the road.

  • A Misbegotten Showdown on Immigration

    Leave it to Republicans to do the right thing after exhausting all other options.

    Speaker John Boehner announced Tuesday that the House would vote to fund the Department of Homeland Security, even though some members of his caucus thought Republicans could withhold funding to protest President Obama ’s immigration policies and not pay a price politically. 

  • Dysfunctional Congress Takes Aim at the Fed

    Anyone expecting the mild-mannered Federal Reserve Chairman to be treated with kid gloves at her semi-annual congressional testimony last week was mistaken. 


    On the Senate side, Massachusetts Senator Elizabeth Warren drilled Janet Yellen on regulatory issues, interrupting her several times to ask if she agreed with Fed general counsel Scott Alvarez's public opposition to two Dodd-Frank rules.

  • A Solid Choice for CBO Director

    With their selection of Keith Hall to direct the Congressional Budget Office (CBO), the incoming chairs of the House and Senate Budget Committees, Dr. Tom Price and Senator Mike Enzi, have passed an unusually rigorous test. 

  • A Post-King Bridge to Somewhere Better

    As we approach oral argument this week at the Supreme Court in the King v. Burwell case, a series of policy reversals is presumed to immediately produce a devastating cascade of premium spikes, policy cancellations, insurer exits, unpaid hospital bills, and millions of newly uninsured Americans. However, the formulaic, knee-jerk forecast of a death spiral throughout the individual and small-group insurance markets is exaggerated for political effect and built on linear projections of static and unrealistic assumptions. 

  • Avoiding Optimism Might Be the Medicine the Fed Needs

    Federal Reserve Vice–Chairman Stanley Fischer’s speech at the 2015 U.S. Monetary Policy Forum in New York centered on the Fed’s asset purchase program and future policy normalization based on the rate of interest paid on excess reserves. But the optimism he expressed in his remarks may be unwarranted.

  • Republicans Get a New Power Broker in Washington

    Congressional Republicans have made a wise choice in their new Congressional Budget Office director, Keith Hall.

  • What’s Behind the Government’s Hatred of Raw Milk?

    Government bans on the sale and distribution of raw milk and raw milk products are enforced in the name of public safety. But many people enjoy the health benefits of milk that has not been pasteurized, and some farms want to sell it.

  • Obamacare’s Vending Machine Power Grab

    It’s bad enough that the Affordable Care Act is raising premiums and deductibles—and perhaps lowering your tax refund. In addition, the ACA has given the Food and Drug Administration the power to go after your favorite vending machine.  


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