Nixon in China
On the 35th anniversary of President Richard Nixon’s historic trip to China in February 1972, our panelists will discuss the significance of Nixon's meeting with Chairman Mao Tse-Tung and how it changed U.S. China relations.
12:15 – 1:00 p.m. Lunch
1:00 – 2:00 p.m. Meeting
Benn Steil's latest op-ed in Forbes, co-authored with Dinah Walker, shows that the Fed's incorporation of the unemployment rate into its forward guidance has been a failure. Such poor communications could roil the markets as the Fed shifts policy from accommodation to tightening.
Peter R. Orszag writes that slow economic growth, low interest rates, and diminishing returns for share buybacks may explain the recent uptick in mergers worldwide.
Concern about inequality in the U.S. is getting well-deserved attention. Unfortunately, though, discussions of the problem too often rest on three misconceptions: that capital is rising as a share of the economy, that most of the rise in wage inequality is explained by growing gaps within companies between higher and lower paid workers, and that workers are increasingly moving from one job to another.