Economics | Penn Today

America’s headed for an interest payment crisis

Kent Smetters of the Wharton School says that interest payments will likely overcome the amount the U.S. spends on national defense within a couple years.

‘Bond King’ Bill Gross says it’s time to stop betting against bonds and get ready for an economic slowdown: ‘Recession in 4th quarter’

Jeremy Siegel of the Wharton School believes that the Federal Reserve will not hike rates again on Nov. 1st because of the bond market.

Two men and three women sit at desks with typwriters, rotary dial phones and desk calendars in an office in the 1950s.

Q&A

A look at former Penn economics professor Claudia Goldin’s Nobel-winning work

Penn economists Jere Behrman, who overlapped with Goldin during her time at Penn, and Petra Todd, whose students have been motivated by Goldin’s work, talk about the importance of her research.

A fast food kitchen employee holding two hot dogs.

Increasing minimum wage has positive effects on employment

The results of a new study from Penn’s School of Social Policy & Practice applies to the fast-food sector and the entire low-wage labor market.

U.S. debt will become unsustainable and trigger default in about 20 years, if it stays on current path

According to the Penn Wharton Budget Model, the U.S. has roughly 20 years to change course on the size of its debt before a default will become unavoidable.

Regulators are trying to stop greenwashing before it gets worse

Danny Cullenward of the Kleinman Center for Energy Policy at the Weitzman School of Design says that Europe’s climate regulators are far more active, whereas cycles of enforcement through litigation are more likely to determine whether a similar level of attention emerges in the U.S.

Closeup Benjamin Franklin face on USD banknote with stock market chart graph for currency exchange and global trade forex concept.

Recession or soft landing?

Susan Wachter and William Glasgall of the Penn Institute for Urban Research discuss key takeaways from their webinar on interest rate increases by the Federal Reserve.

Government shutdown halts economic data for Wall Street

At the 1-hour-12-minute mark of “Bloomberg Markets: The Close,” Jeremy Siegel of the Wharton School discusses the potential economic ramifications of a government shutdown.

Wall Street is hoping $100 oil ain’t what it used to be

Nikolai Roussanov of the Wharton School comments that the fact that the shale revolution was so successful will keep a lid on real prices.

Biden makes case that climate, labor interests can go hand in hand as auto strike fuels attacks

Sanya Carley of the Weitzman School of Design and the Kleinman Center for Energy Policy says that, in the case of the auto industry, many workers will have similar skills, but she also noted that some plants are being moved into southern states that have lower labor costs, cheaper electricity, and less union activity.

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