David Wessel Profile Banner
David Wessel Profile
David Wessel

@davidmwessel

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Director, Hutchins Center on Fiscal & Monetary Policy, Brookings. My latest book "Only the Rich Can Play," the story of Opportunity Zones.

Washington, D.C.
Joined April 2009
Don't wanna be here? Send us removal request.
@davidmwessel
David Wessel
3 years
Best letter to the editor I’ve seen lately. Via ⁦ @nytimes
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@davidmwessel
David Wessel
5 years
George Conway: I thought, President Trump was boorish, dim-witted, inarticulate, incoherent, narcissistic and insensitive....Sunday left no doubt. Naivete, resentment and outright racism, roiled in a toxic mix, have given us a racist president
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@davidmwessel
David Wessel
4 years
Peggy Noonan: Mike Pence crowed at the daily White House briefing: “We have conducted and completed 3,324,000 tests across the nation.” That’s barely 1% of the population three months into a crisis. That’s not an achievement, it’s a scandal. via @WSJ
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@davidmwessel
David Wessel
4 years
At age 13, my mother was separated from her parents in 1939 when they put her on the Kindertransport from Germany to England. She was reunited with them — in the United States in 1941. That is my America.
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@davidmwessel
David Wessel
3 years
Amazon’s plans for its new Virginia headquarters feature a 350-foot structure dubbed the Helix with two spiraling outdoor walkways with trees and plants from Virginia that twist to the building’s top. via @WSJ
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@davidmwessel
David Wessel
4 years
Closing paragraphs of John Barry’s The Great Influenza.
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@davidmwessel
David Wessel
8 years
Best story in today's NYTimes
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@davidmwessel
David Wessel
7 years
No reporter can truly capture what it’s like to interview Trump. Read the WSJ interview transcript here:
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@davidmwessel
David Wessel
5 years
Steve Moore: “I’m kind of new to this game, frankly, so I’m going to be on a steep learning curve myself about how the Fed operates, how the Federal Reserve makes its decisions.” via @bpolitics
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@davidmwessel
David Wessel
5 years
Transcript of judge's conference call in Census case following Trump tweets. Oy veh.
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@davidmwessel
David Wessel
4 years
1 in 3 Americans live in states where marijuana is now legal for anyone over the age of 21. h/t @ameliatd of @538politics
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@davidmwessel
David Wessel
4 years
True fact o day
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@davidmwessel
David Wessel
4 years
2020 is a unique Leap Year. It has 29 days in February, 300 days in March and 5 years in April.
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@davidmwessel
David Wessel
7 years
Verbatim transcripts of Trump interviews are far more disturbing than the stories written about them.
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@davidmwessel
David Wessel
4 years
From @Cutler_econ Dear economist friends. I am very sad to report that Alberto Alesina passed away today. Apparently, he was hiking with his beloved wife Susan and had a heart attack. He was a great treasure whom we shall all miss.
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@davidmwessel
David Wessel
7 years
Um, Congress created CBO in the Nixon years because it wanted an alternative to White House numbers.
@WhiteHouse45
The White House 45 Archived
7 years
The CBO continues to prove its models simply can't be trusted to accurately predict the outcomes of important healthcare legislation.
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@davidmwessel
David Wessel
4 years
Melania’s anti-bullying campaign doesn’t seem to working at home.
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@davidmwessel
David Wessel
4 years
NYTimes asks if $600/wk in UI discourages folks from going back to work. Starts with a biz’man saying yes. 8 paragraphs of that before citing reams of evidence that says no (and that’s after the jump.) Ends with wife of biz’man in lede going back to work despite $600/wk in UI.
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@davidmwessel
David Wessel
3 years
What I learned today: “In the 87 years between the end of Reconstruction and 1964, the only bills that were stopped by filibusters were civil rights bills.” -- @AJentleson
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David Wessel
6 years
One can't really appreciate how Donald Trump thinks and talks in an interview with a newspaper reporter unless you read the transcript. Kudos to @WSJ for posting this one. Worth reading w/a glass of wine for comfort. via @WSJ
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@davidmwessel
David Wessel
6 years
You cannot say you weren’t warned, Sen. Corker.
@NivElis
Niv Elis
6 years
Corker on price of tax cut according to CBO: “If it ends up costing what you said here, it could well be one of the worst votes I ever cast.”
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@davidmwessel
David Wessel
6 years
Percentage of world pop in extreme poverty (<$1.90/day) 1990: 36% 2015: 10% East Asia incl China 1990: 62% 2015: 2% Sub-Saharan Africa 1990: 54% 2015: 41% source: World Bank via @WSJ
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@davidmwessel
David Wessel
5 years
At 4.6% of GDP, the federal debt was larger than any year since 2012 when the unemployment rate was above 8%.
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@davidmwessel
David Wessel
5 years
Justice Department lawyer: "The tweet this morning was the first I had heard of the President's position on this issue... But, obviously, as you can imagine, I am doing my absolute best to figure out what's going on."
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@davidmwessel
David Wessel
4 years
Pfizer, unlike competitors, did not join Operation Warp Speed, the Trump initiative to erase the financial risk of vaccine. and helping coordinate the trials. Instead, Pfizer plowed $2 billion of its own money into the project
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@davidmwessel
David Wessel
4 years
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@davidmwessel
David Wessel
5 years
Bernanke to economists: If you are working on something with no relevance to policy, you should question what you’re doing. #ASSA2019
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@davidmwessel
David Wessel
6 years
After this terrific @NYTimes reporting -- and the photos! -- it is really hard for MBS to say convincingly that he had nothing to do with the Khashoggi murder.
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@davidmwessel
David Wessel
6 years
Reagan (1988): "We should be wary of the demagogues who are ready to declare a trade war against our friends weakening our economy,, our national security, and the entire free world, all while cynically waving the American flag."
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@davidmwessel
David Wessel
5 years
"I don't know how many federal judges have Twitter accounts, but I happen to be one of them, and I follow the President ..."
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@davidmwessel
David Wessel
3 years
Biden stimulus will add 1 pct pt to global economic growth in 2021, OECD chief economist says. OECD sees 5.6% global growth in 2021 now, 1.4 pts higher than it saw in November. Forecast for US GDP now 6.5% in 2021 vs 3.2% in November. via @financialtimes
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@davidmwessel
David Wessel
3 years
FYI: Here are the 15 Senate Republicans who voted against Janet Yellen’s confirmation as Treasury secretary. Rubio didn’t show up for the vote.
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@davidmwessel
David Wessel
4 years
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@davidmwessel
David Wessel
3 years
Big revisions. The change in total nonfarm payrolls for August was revised up by 117,000, from +366,000 to +483,000; Sept was revised up by 118,000, from +194,000 to +312,000. Augand Septr combined=+235,000 higher than previously reported
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@davidmwessel
David Wessel
4 years
Pelosi says Powell told her: “Think big. Interest rates are low.” @NewsHour #COVID19
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@davidmwessel
David Wessel
2 years
In 114 competitive House races, Trump-endorsed candidates underperformed by 5 percentage points while those who weren't Trump-endorsed overperformed by 2.2 points, calculates @PhilipWallach of @AEI
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@davidmwessel
David Wessel
4 years
Yovanovitch speaks truth to power.
@JimGoldgeier
Jim Goldgeier
4 years
“I have seen dictatorships around the world, where blind obedience is the norm and truth-tellers are threatened with punishment or death. We must not allow the United States to become a country where standing up to our government is a dangerous act.”
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@davidmwessel
David Wessel
4 years
Before Bush 41 picked Quayle as his running mate, Trump sent word via Lee Atwater that he’d be willing to run as VP. Bush’s response: “Strange and unbelievable” (From the Baker/Glasser Baker biography)
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@davidmwessel
David Wessel
3 years
All living former Treasury secretaries (Republicans Paulson, Snow, O’Nell, Baker and Schultz included) endorse Yellen’s nomination.
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@davidmwessel
David Wessel
4 years
RIP, the longest economic expansion in recorded in US history.
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@davidmwessel
David Wessel
4 years
Share of 18- to 29-year-olds living with parents rises to 52%, a level not seen since the Great Depression era
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@davidmwessel
David Wessel
6 years
Very pleased to be welcoming Janet Yellen to the Hutchins Center at Brookings. She's taking the weekend off, and will show up for work here on Monday. via @BrookingsInst
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@davidmwessel
David Wessel
4 years
The @nytimes on Cy Vance's challenge in bringing charges against Trump after he leaves office: "Tax cases can be boring for jurors" Calling @RichardRubinDC to serve
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David Wessel
7 years
Jaw dropper of the day (so far.) Peter Thiel: "There's a point where no corruption can be a bad thing."
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@davidmwessel
David Wessel
7 years
. @NickTimiraos of WSJ tries a metaphor to explain big gimmick in Trump budget
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@davidmwessel
David Wessel
3 years
ICYMI. Yellen: “We cannot solve the climate crisis without effective carbon pricing. The president supports an enforcement mechanism that requires polluters to bear the full cost of the carbon pollution they are emitting” (From written answers to senators’ questions)
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@davidmwessel
David Wessel
4 years
Democrats won language that would bar any business owned by Trump or his family from getting loans from Treasury. Businesses owned by members of Congress, heads of executive departments and Vice President Mike Pence also would be blocked via @bpolitics
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@davidmwessel
David Wessel
7 years
WSJ pioneer Mary Bralove recalls her 1976 Page One story on sexual harassment in the workplace.
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@davidmwessel
David Wessel
7 years
University of Michigan to offer free of tuition to in-staters with income up to $65k, the state's median income.
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@davidmwessel
David Wessel
3 years
Biden names Caroline Kennedy ambassador to Australia
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@davidmwessel
David Wessel
5 years
Alan Krueger (who was only 58) was one of those economists who cared about making the world a better place and who always was ready to help a journalist understand economics. He will be missed.
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@davidmwessel
David Wessel
3 years
. @Peggynoonannyc joins the Trump must go...NOW..crowd. Likens him to Hitler in the bunker. via @WSJ
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@davidmwessel
David Wessel
9 years
Biden's very personal speech to Yale Class of '15 is worth reading as he (and we) mourn his son's death: http://t.co/uCQ81wmVk1
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@davidmwessel
David Wessel
4 years
Interesting piece on Mayor Pete by one of his Harvard professors. More insight into his early years — and motivations — than I have read elsewhere.
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@davidmwessel
David Wessel
5 years
Trump’s promise to bring back steel jobs hasn’t happened. In Nov, Labor Dept says there were 83,400 people employed by American iron and steel mills, down 100 from last Feb, month before Trump tariff announcement. Via @WSJopinion via @WSJOpinion
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@davidmwessel
David Wessel
6 years
This time *is* different.
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@davidmwessel
David Wessel
8 years
The time that each of the past 10 presidential elections was called. Via @washingtonpost
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@davidmwessel
David Wessel
7 years
"I did what was naturally right to do." *This* is what makes America great. #IanGrillot
@itvnews
ITV News
7 years
'I did what was right': Ian Grillot was shot as he jumped to the defence of two Indian men in a bar in Kansas, USA
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@davidmwessel
David Wessel
6 years
So Nancy Pelosi will outlast Paul Ryan after all. She might just be his successor as Speaker.
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@davidmwessel
David Wessel
2 years
If you’re wincing at the pace of Fed rate hikes, ponder this @wsj chart
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@davidmwessel
David Wessel
7 years
Treasury tax experts shut out of analysis of tax bill via @NYTimes
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@davidmwessel
David Wessel
4 years
In the three weeks before Election Day, Trump visited 48 counties. Turnout rose in more than half. But in 38 of the 48 counties, Trump’s 2020 share of the vote declined compared with 2016. via @WSJ
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@davidmwessel
David Wessel
5 years
Trump is in the 1%. His net operating losses reached $418 million in 1991. That was fully 1% of all the losses that the I.R.S. reported had been declared by individual taxpayers that year says ⁦ @nytimes
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@davidmwessel
David Wessel
4 years
On Jan 1, I always remember Gwen Ifill of @NewsHour and her crowded New Year’s Day brunch. Miss her wisdom and graciousness.
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@davidmwessel
David Wessel
6 years
Memo to economic and business reporters: Do not ever write about local “labor shortages” or “tight labor markets” without mentioning what’s happening to wages.
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@davidmwessel
David Wessel
7 years
Letter from all former CBO Directors on the Importance of CBO in the Legislative Process
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@davidmwessel
David Wessel
7 years
Trump: 30.6 million TV viewers Obama 2nd: 20.6 million Obama 1st: 37.8 million Reagan: 41.8 million
@realDonaldTrump
Donald J. Trump
7 years
Wow, television ratings just out: 31 million people watched the Inauguration, 11 million more than the very good ratings from 4 years ago!
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@davidmwessel
David Wessel
7 years
GOP tax bill logic: A plumber who make $60,000 in wages as an employee will pay 60% more in income taxes than a plumber who is a sole proprietor or self-employed. via Adam Looney
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@davidmwessel
David Wessel
5 years
Sign of times: Two Pulitzers for (un)covering Trump misdeeds, one for Marjorie Stoneman Douglas High School shooting, one for Tree of Life shooting, one for USC doc who abused women, one for injustice in Louisiana, one for genocide in Myanmar..... #Pulitzer
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@davidmwessel
David Wessel
3 years
Who earned PhDs in economics in 2020? Gleanings from the NSF's Survey of Earned Doctorates via @BrookingsInst Hutchins Center #econtwitter
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David Wessel
5 years
Greg Mankiw: Moore "does not have the intellectual gravitas for this important job... It is time for senators to do their job. Mr. Moore should not be confirmed.” (Mankiw blog at )
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@davidmwessel
David Wessel
5 years
Paul Volcker's last (written) words: Increasingly, by design or not, there appears to be a movement to undermine Americans’ faith in our government and its policies and institutions.
@cr_harper
Christine Harper
5 years
Paul Volcker's final warning in today's FT:
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@davidmwessel
David Wessel
1 year
To sidestep the sandwich tax in New York, a bagel company teamed up with Philadelphia cream cheese to make a bagel injected with cream cheese (think jelly donut) — since tax authorities say it only counts as a sandwich if it's sliced open. via @NPR
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@davidmwessel
David Wessel
2 years
DeSantis - governor of a state rich with immigrants from Cuba and elsewhere - charters two planes to send 48 Latin American migrants to Martha’s Vineyard. Sad and cynical.
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@davidmwessel
David Wessel
4 years
You really can't make this stuff up: Talks between Tokyo and London over a new trade deal have hit a snag after Liz Truss, UK trade secretary, insisted on bringing Stilton cheese into the negotiations. via @financialtimes
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@davidmwessel
David Wessel
5 years
Mitch Daniels: The State of the Union is a tasteless, classless spectacle. It must go.
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@davidmwessel
David Wessel
3 years
Biden on debt limit:A meteor is is headed to crash into our economy.Democrats are willing to do all the work stopping it. Republicans just have to let us do our job; just get out of the way. If you don’t want to help save the country, get out of the way so you don’t destroy it.
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@davidmwessel
David Wessel
3 years
Also: From 2009 to 2013, Obama faced 86 filibusters of his nominees. All other presidents combined faced 82. -- @AJentleson in "Kill Switch: The Rise of the Modern Senate"
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@davidmwessel
David Wessel
5 years
If we banned prescription drug ads on TV, what would happen to the business model of the Sunday talk shows?
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@davidmwessel
David Wessel
7 years
This is the kind of headline that makes me nervous.
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@davidmwessel
David Wessel
4 years
Goldman Sachs: We now expect real GDP growth of 0% in Q1 (from +0.7%), -5% in Q2 (from 0%), +3% in Q3 (from +1%), and +4% in Q4 (from +2¼%), with further strong gains in early 2021. This takes 2020 GDP forecast down to +0.4% (from 1.2%). Uncertainty is much greater than normal.
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@davidmwessel
David Wessel
4 years
Michael Strain and Jason Furman agree: Don’t cut the payroll tax. Just send people money
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@davidmwessel
David Wessel
8 years
CNN nat'l poll: Clinton 52 vs Trump 44 Clinton 47 vs Rubio 50 Clinton 48 vs Cruz 49 margin of error: +/- 3 n=1001
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@davidmwessel
David Wessel
5 years
Kudos to the Pulitzers for citing staff of Capital Gazette in Annapolis for courageous response to largest killing of journalists in US history for demonstrating unflagging commitment to covering the news and serving their community at a time of unspeakable grief. Plus $100,000.
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@davidmwessel
David Wessel
7 years
Demographic fact of day: Number of people between 25-54 in the US hasn't increased in a decade.
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@davidmwessel
David Wessel
2 years
Good cartoon from Mike Luckovich of Atlanta Journal Constitution
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@davidmwessel
David Wessel
4 years
With all but one precinct reporting in Wisconsin Supreme Court race; Karofsky 55.3% Kelly 44.7%
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@davidmwessel
David Wessel
5 years
CBO says Trump trade policies doing more harm to US economy than it projected in January. Now expects those changes to reduce real U.S. GDP by 0.3% by 2020 ($580/household on average) That's 0.1 pct point more than previously projected. Revisions to long-run effects more modest.
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