Erin Lockwood
@erinkaylockwood.bsky.social
Assistant professor of Political Science at the University of California, Irvine | researching and teaching IPE, financial politics, global inequality | plants, birds, snacks, sci-fi, quilting | poet | she/her https://faculty.sites.uci.edu/erinlockwood/
Whatever else this is, it is neither conducive to: - reassuring the bond market - creating a financial system that operates as if the Fed does not exist, which appears to be Warsh's animating vision of monetary policy
Michael Derby@michaelsderby.bsky.social · 2h agoAs evidence for Warsh’s rough start as Fed chair, the Treasury secretary is now going after reporters for their coverage of the central bank.
Whatever the heck this is, existing measures of central bank independence are not capturing it.
Michael Derby@michaelsderby.bsky.social · 2h agoAs evidence for Warsh’s rough start as Fed chair, the Treasury secretary is now going after reporters for their coverage of the central bank.
Trying out the features in Claude for education. Join me as I see how it "helps" me write a research paper. My chosen topic: "AI and education". /1
There are two wolves. One always lies. One controls the lever of trolley track. They're in a state of superposition inside a box. On the trolley are infinite monkeys at infinite typewriters going to an infinite hotel. The trolley must first travel halfway, but before that a quarterway, and so on...
More evidence that Warsh wants a Quadrant III Fed (no conferences, no fwd guidance). Fewer FOMC meetings mean a Fed that not only communicates less with the public but also less internally, a set of policies that seem unlikely to produce either financial stability or democratic accountability.
Warsh Considers Reducing Frequency of Fed Policy Meetings (Gift Article)
The Federal Reserve has met at least eight times a year for decades. Reducing the number of meetings would represent the biggest change by Kevin M. Warsh since he became chairman.
nytimes.com
Erin Lockwood@erinkaylockwood.bsky.social · 6d agoUnder Warsh, the Fed is committed to a regime of no forward guidance and (at least through December of this year) regular press conferences. What are the consequences of this policy for democratic accountability and financial stability? I jotted down this 2x2 to think through those questions.
I have so many questions about this photo. Why the reminder of the yen's currency code JPY? For that matter, why the long-form? Surely the Treasury Secretary is familiar with the abbreviations for major currencies? Why is this on a to-do list, like he might forget? What else is on this to-do list?
We're exactly one news cycle away from the administration saying they didn't die *from* cyclosporiasis, they died *with* cyclosporiasis and blaming their preexisting conditions, as if those with chronic illnesses or disabilities do not deserve to be protected from preventable deaths.
Phil Lewis@phillewis.bsky.social · 2d agoTwo people have died from cyclosporiasis in Michigan, marking the first fatalities in the largest U.S. outbreak of the intestinal illness
Current regulatory approach to the US food supply:
Going to print out this image and lovingly tape it over every one of those feverishly garish AI flyers and menus that have invaded our lives.
Erin Lockwood@erinkaylockwood.bsky.social · 3d agoBless you, Mo Willems, for your gift of foresight 🙏
Going to print out this image and lovingly tape it over every one of those feverishly garish AI flyers and menus that have invaded our lives.
Erin Lockwood@erinkaylockwood.bsky.social · 3d agoBless you, Mo Willems, for your gift of foresight 🙏
If you’re wondering about what could have been done in early COVID, you could read “In COVID’s Wake” which pins the blame on public health officials for dealing with a pandemic Or you could read Pandemic Politics to see that it was partisan from the jump press.princeton.edu/books/hardco...
Pandemic Politics
How the politicization of the pandemic endangers our lives—and our democracy
press.princeton.edu
I feel like the whole world got a taste of what it's like to sit around a grad seminar table.
Joseph Rezek@rezekjoe.bsky.social · 4d agoSUSAN ORLEAN HAS JOINED THE ENEMY IN THE ODYSSEY WARS
Kevin Warsh has only been the Fed chairman for two months and he is already underwhelming financial markets. My latest (with an assist from @erinkaylockwood.bsky.social). danieldrezner.substack.com/p/kevin-wars...
Kevin Warsh Is Not Inspiring Confidence
Not a quality one wants in a Fed chair.
danieldrezner.substack.com
More evidence that Warsh wants a Quadrant III Fed (no conferences, no fwd guidance). Fewer FOMC meetings mean a Fed that not only communicates less with the public but also less internally, a set of policies that seem unlikely to produce either financial stability or democratic accountability.
Warsh Considers Reducing Frequency of Fed Policy Meetings (Gift Article)
The Federal Reserve has met at least eight times a year for decades. Reducing the number of meetings would represent the biggest change by Kevin M. Warsh since he became chairman.
nytimes.com
Erin Lockwood@erinkaylockwood.bsky.social · 6d agoUnder Warsh, the Fed is committed to a regime of no forward guidance and (at least through December of this year) regular press conferences. What are the consequences of this policy for democratic accountability and financial stability? I jotted down this 2x2 to think through those questions.
That I can't make comments on footnotes using Word's track changes function.
Sanjay Srivastava@sanjaysrivastava.com · 6d agoWhat is an extremely nerdy/obscure/specific thing you hate with a white-hot wrath?
This and all the companies that insist on hard topping actual shade trees in July make me mad at the state of residential arboriculture in SoCal. LET THERE BE TREES DAMN IT
PALM TREES. They 1) don't provide shade 2) don't compost well 3) the fronds are painful to handle but they still crush your car if you don't cut them off 4) all but one species is non-native in CA 5) the only animals that nest in them are rats 6) they're not even trees, they're a GRASS
Just the most cartoonish forms of corruption imaginable.
I’ve finally got to see the mural of St Mungo in Glasgow. The image depicts the city’s patron saint in modern clothing as a homeless man holding a robin, in a reference to one of his four legendary miracles.
in sum: The Fed should absolutely be communicating to the public more than Warsh thinks it should -- but it should also be communicating *more clearly.* Communicating while claiming it's not communicating may be worse than not communicating at all.
Under Warsh, the Fed is committed to a regime of no forward guidance and (at least through December of this year) regular press conferences. What are the consequences of this policy for democratic accountability and financial stability? I jotted down this 2x2 to think through those questions.
Listening to the 7/29 FOMC press conference, I was struck by the tension between Fed Chair Warsh's frequently repeated preference for a less communicative Fed and his commitment to holding press conferences through the end of the year, which strikes me as possibly the worst of all possible worlds.
A thread (and a 2x2 table, you're welcome) about Kevin Warsh's confusing approach to central bank communications at the Fed 🧵💰🗨️
Erin Lockwood@erinkaylockwood.bsky.social · 6d agoListening to the 7/29 FOMC press conference, I was struck by the tension between Fed Chair Warsh's frequently repeated preference for a less communicative Fed and his commitment to holding press conferences through the end of the year, which strikes me as possibly the worst of all possible worlds.
A thread (and a 2x2 table, you're welcome) about Kevin Warsh's confusing approach to central bank communications at the Fed 🧵💰🗨️
Erin Lockwood@erinkaylockwood.bsky.social · 6d agoListening to the 7/29 FOMC press conference, I was struck by the tension between Fed Chair Warsh's frequently repeated preference for a less communicative Fed and his commitment to holding press conferences through the end of the year, which strikes me as possibly the worst of all possible worlds.
