jaycshambaugh.bsky.social profile picture

Jay Shambaugh

@jaycshambaugh.bsky.social

946 Followers

415 Following

Professor of Econ and Intl affairs at GW Former: Under Secretary of Intl Affairs at Treasury, Director of the Hamilton Project at Brookings, Member at WH CEA, Senior /chief economist at CEA.

  1. tderyugina.bsky.social profile picture

    Tatyana Deryugina @tderyugina.bsky.social

    The letter is ready, thanks to all those who helped out! Starting to gather signature now, please consider signing (link at top of letter) & spread the word.

    docs.google.com/document/d/1...

    Click here to add your signature. An Open Letter from Economists in Support of Governor Lisa Cook and Federal Reserve Independence To the President, Members of Congress, and the American public: We wr...

    Open letter

    Click here to add your signature. An Open Letter from Economists in Support of Governor Lisa Cook and Federal Reserve Independence To the President, Members of Congress, and the American public: We wr...
    tderyugina.bsky.social profile picture

    Tatyana Deryugina @tderyugina.bsky.social

    OK, who wants to help me draft & distribute a letter of support for Lisa Cook & Central Bank independence?

    I already have a first draft & a bunch of academics' emails

    If you want to help get this going, email me (tatyana@deryugina.com)

    www.msnbc.com/rachel-maddo...

    At issue is an attempted White House power grab that ignores the rule of law and puts global economic stability at risk.

    Why Trump’s offensive against the Fed's Lisa Cook is a ‘five-alarm fire’

    At issue is an attempted White House power grab that ignores the rule of law and puts global economic stability at risk.

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  3. jaycshambaugh.bsky.social profile picture

    Jay Shambaugh @jaycshambaugh.bsky.social

    Good summary of Trump’s statement he fired Fed governor Lisa Cook. He cannot fire her without cause and it does not appear there is cause. Undermining the Fed will not generate an immediate crisis, but undermining the Fed and the rule of law is bad for the economy and country over time.

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  5. arindube.bsky.social profile picture

    Arin Dube @arindube.bsky.social

    This action by Lisa Cook is courageous, principled, and deserves broad support.

    bencasselman.bsky.social profile picture

    Ben Casselman @bencasselman.bsky.social

    Just received this statement from Lisa Cook: "President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022."

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  7. jaycshambaugh.bsky.social profile picture

    Jay Shambaugh @jaycshambaugh.bsky.social

    Important article by @bencasselman.bsky.social Tariffs and cuts to key programs get attention and will do immediate damage. But Trump is also undermining long run growth. I’d add to Ben’s list: Trump is making parts of the population feel less secure which reduces innovation and entrepreneurship.

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  8. jaycshambaugh.bsky.social profile picture

    Jay Shambaugh @jaycshambaugh.bsky.social

    This will get lost in the shuffle of so many damaging high profile actions by this Administration. But this is just gratuitously bad. The government should support competition and try to help make sure consumers, workers, and small biz don’t get squeezed by huge firms’ market power.

    martingaynor.bsky.social profile picture

    Martin Gaynor @martingaynor.bsky.social

    This is a step backwards. A whole of government approach to competition is crucial. This administration could have replaced the EO with one of their own. They didn’t - which accentuates concerns that they’re not committed to supporting and promoting competition. www.whitehouse.gov/presidential...

    By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1.

    Revocation of Executive Order on Competition

    By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1.

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  9. jaycshambaugh.bsky.social profile picture

    Jay Shambaugh @jaycshambaugh.bsky.social

    @jasonfurman.bsky.social is appropriately blunt and brutal in his assessment of Trump’s firing of BLS Commissioner Erika McEntarfer and his atrocious nomination of EJ Antoni. Given the chaos Trump has unleashed on the economy, it’s important to have data to track it. This step undermines the data.

    jasonfurman.bsky.social profile picture

    Jason Furman @jasonfurman.bsky.social

    I expand on why I--like just about every economist and wonk I know--believes that EJ Antoni is a terrible pick for BLS Commission.

    Shout outs to Alan Cole, Stan Veuger and if more space would have called out dozens more. www.nytimes.com/2025/08/13/o...

    Most of us just accept that government economic data is the best possible estimate of the economy. That could change, and that would be bad for all of us.

    Opinion | Why Economists Are Worried About Trump’s B.L.S. Changes

    Most of us just accept that government economic data is the best possible estimate of the economy. That could change, and that would be bad for all of us.

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