Sign in

David Wessel

@davidmwessel.bsky.social
11K followers 422 following 3.4K posts

Director, Hutchins Center on Fiscal & Monetary Policy, Brookings Institution www.brookings.edu/people/david-wess…

PostsRepliesMedia
Reposted by David Wessel
Kate from Kharkiv @kateinkharkiv.bsky.social · 9h
In Kharkiv today, murderhappy Russians struck a medical facility, injuring 5 people. ​Trump wants us to stop striking russian oil refineries and let them keep destroying our homes, hospitals, schools, and kindergartens with impunity. He blames us for fighting back against pure terrorism.
27413178
Reposted by David Wessel
Yuriy Gorodnichenko @ygorodnichenko.bsky.social · 09/10/2026
This is absurd. The US just lifted sanctions to import diesel from a country that: (1) bans its own diesel exports, (2) is rationing fuel domestically, (3) is bombing #Ukraine energy infrastructure. This is subsidizing Putin's war chest for fuel he can't even reliably deliver. Who does this serve?
nytimes.com
Trump Says He Will Import Russian Diesel Fuel Amid High Prices
President Trump said Russia had agreed to ship potentially millions of tons of diesel fuel in the coming months. But Russia has an ongoing ban on exporting diesel.
99339
David Wessel @davidmwessel.bsky.social · 09/10/2026
Philadelphia Fed is in the market for a senior vice president of strategic communications. rb.wd5.myworkdayjobs.com/en-US/FRS/de...
rb.wd5.myworkdayjobs.com
Senior Vice President of Strategic Communications
Company Federal Reserve Bank of Philadelphia The Philadelphia Fed is the home of the Federal Reserve’s Third District, serving Delaware, southern New Jersey, and eastern and central Pennsylvania. We a...
011
David Wessel @davidmwessel.bsky.social · 09/10/2026
Kevin Hassett apparently is a member of the committee investigating Lisa Cook
232
David Wessel @davidmwessel.bsky.social · 09/10/2026
Text of Trump order forming committee to investigate Lisa Cook www.whitehouse.gov/presidential...
whitehouse.gov
Establishment of a Committee of Inquiry to Investigate Allegations of False Statements by Lisa DeNell Cook
MEMORANDUM FOR THE ATTORNEY GENERAL THE COUNSEL TO THE PRESIDENT THE ASSISTANT TO THE PRESIDENT FOR ECONOMIC POLICY THE DIRECTOR OF THE OFFICE OF
131
David Wessel @davidmwessel.bsky.social · 08/10/2026
Will Republicans in Congress let Trump de-fang GAO? www.washingtonsun.com/whitehouse/t...
washingtonsun.com
White House Floats Russ Vought’s Deputy to Lead Congress’ Watchdog Arm
OMB Deputy Director Eric Ueland has presided over massive shakeups to the federal workforce that the Government Accountability Office has deemed detrimental.
040
David Wessel @davidmwessel.bsky.social · 08/10/2026
Jimmy Atkinson: OZ 2.0 is shaping up to be less rural than OZ 1.0, contrary to what Congress intended. Across he 12 states that have published OZ 2.0 tracts, 37.2% of the 1,566 are rural, down from 44.8% of the same states' 2018 OZ 1.0 tracts. opportunityzones.com/2026/10/oz-2...
opportunityzones.com
OZ 2.0 Was Supposed to Be More Rural. Early Nominations Say Otherwise. - OpportunityZones.com
OZ 2.0 is shaping up to be less rural than OZ 1.0. That may come as a surprise given that Congress wrote rural investment into the heart of the new law. Across…
100
Reposted by David Wessel
Talking Biz News @talkingbiznews.bsky.social · 08/10/2026
@wsj.com seeks a standards editor: talkingbiznews.com/biz-news-hel...
talkingbiznews.com
WSJ seeks a standards editor - Talking Biz News
The Wall Street Journal is looking for an experienced editor to join our Standards and Ethics department. You should have a demonstrated expertise and insight in setting and maintaining reporting and ...
002
Reposted by David Wessel
Jason Furman @jasonfurman.bsky.social · 08/10/2026
This is what crowd out looks like.
30613202
David Wessel @davidmwessel.bsky.social · 08/10/2026
Tara Watson of @brookings.edu proposes a temporary direct-care worker visa, H-1D, that offers a tailored and flexible way to address the looming workforce challenge and improve the quality of care available to older people needing support. www.brookings.edu/articles/a-d...
brookings.edu
A direct care worker visa policy to support the aging US population | Brookings
Tara Watson offers a proposal for a temporary employment-based visa, the H-1D, for direct care workers.
1137
Reposted by David Wessel
The Cook Political Report @cookpolitical.com · 07/10/2026
We are revising our estimate of potential Senate pickups to two to six seats for Democrats — squarely within the range of the four seats they need to net for a majority.
16520
David Wessel @davidmwessel.bsky.social · 07/10/2026
Forward guidance. FOMC minutes: "most participants assessed that another increase in the target range for the federal funds rate would likely be appropriate by year end." www.federalreserve.gov/monetarypoli...
federalreserve.gov
083
David Wessel @davidmwessel.bsky.social · 07/10/2026
Today at noon ET. Louise Sheiner of @brookings.edu with Fabio Natalucci and Jim Clouse of Andersen. Online only. Free. events.zoom.us/ev/AhIzAt_cy...
events.zoom.us
When Debt Matters: The Treasury, the Fed, and America's Fiscal Future
010
David Wessel @davidmwessel.bsky.social · 07/10/2026
Trump wants to transform his West Palm Beach golf club into presidential retreat like Camp David, proposes to designate part of private club a permanent, official sanctuary for foreign leaders and future U.S. presidents. Future presidents would be offered comped memberships. wapo.st/4rVgmvt
050
David Wessel @davidmwessel.bsky.social · 07/10/2026
Bessent, says @wsj.com, is a volatile boss. Trump admires his style. www.wsj.com/politics/pol...
wsj.com
Inside Bessent’s Treasury: Tension, Turnover and Unmet Economic Goals
Ahead of midterms that could turn on high prices and borrowing costs, the secretary dresses down officials.
051
David Wessel @davidmwessel.bsky.social · 07/10/2026
Growth in AI-related trade reflects the investment boom in economies embedded in its value chain...Yet as this drives forward today’s AI economies, it largely bypasses most others, increasing the risk of widening economic inequality across the globe
120
David Wessel @davidmwessel.bsky.social · 07/10/2026
IMF research suggests that AI, if done right, could over time deliver up to half a percentage point of extra world growth annually. Just think of it: going from 3 percent to 3½ percent—it will add an economy the size of ASEAN to the world economy over a decade. www.imf.org/en/news/arti...
imf.org
Coming Soon: 2026 Annual Meetings Curtain Raiser
Tune in on October 7 at 2:00 p.m. SGT / 2:00 a.m. EDT as IMF Managing Director Kristalina Georgieva delivers the Curtain Raiser speech for the 2026 Annual Meetings in Bangkok, Thailand, followed by a ...
120
Reposted by David Wessel
AEA Information @aeainformation.bsky.social · 06/10/2026
AEA election results: Congratulations to President-elect Pinelopi (Penny) Koujianou Goldberg, VPs Stefano DellaVigna and Serena Ng, and members Francisca Antman and Peter J. Klenow! #econsky aeaweb.org/about-aea/le...
aeaweb.org
2027 Elected AEA Officers
By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device to enhance site navigation and analyze site performance and traffic. For more information on our use of cookies, please see our Privacy Policy.
053
Reposted by David Wessel
The Washington Post @washingtonpost.com · 06/10/2026
Conservative Supreme Court Justice Samuel A. Alito Jr. told Bloomberg News that he won’t retire during the lame-duck session of Congress later this year, even if the Democrats win the Senate in November’s midterm elections.
washingtonpost.com
Justice Alito says he won’t retire during lame-duck session of Congress
That window probably would be the last chance for President Donald Trump to get a conservative successor to the 76-year-old justice confirmed by the Senate if Democrats take the upper chamber.
9194
David Wessel @davidmwessel.bsky.social · 06/10/2026
IMF: Globally, hedge funds now hold about $13 trillion in assets, more than three times their 2013 level. www.imf.org/en/publicati...
131
David Wessel @davidmwessel.bsky.social · 06/10/2026
Strengthening the resilience and liquidity of the US Treasury market. Nov 17 @brookings.edu www.brookings.edu/events/stren...
010
David Wessel @davidmwessel.bsky.social · 06/10/2026
Beyond Le Carre. A Hamburg prosecutor searched Hanning’s home in high-profile child custody case involving multi-millionaire heiress of a German restaurateur, in which Hanning had consulted. Discovering classified material, investigators alerted federal prosecutor. www.ft.com/content/4c56...
ft.com
Former German spy chief arrested for treason
Ex-intelligence head August Hanning suspected of selling state secrets to foreign power
040
David Wessel @davidmwessel.bsky.social · 05/10/2026
New from CBO: a 5 pct-pt increase in Treasury duration supply (which corresponds approximately to a 1 pct increase in debt-to-GDP ) --> a 2.8 basis-point increase in the 10-year term premium. www.cbo.gov/publication/...?
cbo.gov
Treasury Duration Supply and Term Premiums: Working Paper 2026-11 | Congressional Budget Office
In this working paper, the effect of Treasury duration supply on term premiums is estimated by using a dynamic term structure model.
041
David Wessel @davidmwessel.bsky.social · 05/10/2026
Bloomberg (which Bessent has barred from the Treasury) tracks the Treasury secretary's rosy forecasts on gas prices, house prices, inflations, etc. and finds his record isn't very good. www.bloomberg.com/news/article...
bloomberg.com
Scott Bessent’s Rosy Forecasts Are Putting His Credibility at Risk
The US Treasury Secretary risks boxing himself in with his prognostications on gasoline prices, the housing market and the economy.
0141
David Wessel @davidmwessel.bsky.social · 05/10/2026
IMF: Multinational corporations' reported profits have become less sensitive to differences in tax rates, while real investment has become more sensitive. This is consistent with a closer alignment of reported profits and the locations where real investment takes place. www.imf.org/en/blogs/art...
052
David Wessel @davidmwessel.bsky.social · 05/10/2026
What I leaned today: In 2006 U.S. Naval Academy, having deemed GPS dependable, stopped teaching midshipmen celestial navigation. In 2015, with jamming and cyberattacks no longer hypothetical, the Navy put the subject back on the syllabus. www.wsj.com/arts-culture...
wsj.com
‘Little Blue Dot’ Review: Maps and Satellites
The Global Positioning System, designed by the U.S. military, became a mundane part of civilian life. It has lately been called back to war.
0110
David Wessel @davidmwessel.bsky.social · 04/10/2026
Krugman: Current evidence does not support view that rising long-term interest rates are being driven by fears of US govt default or concerns about runaway inflation.Likely that biggest source of rate surge is immense demand for funds created by AI boom. paulkrugman.substack.com/p/who-droppe...
1175
Reposted by David Wessel
Carl Quintanilla @carlquintanilla.bsky.social · 03/10/2026
“I am the house.” - Sept 8 “I can’t control the bond market.” - Oct 3 @bloomberg.com www.bloomberg.com/news/article...
1461884559
David Wessel @davidmwessel.bsky.social · 03/10/2026
Nugget in Fed IG report on the building cost overruns: In January 2023, the Board changed its interior design from predominantly open workspaces to predominantly closed offices. This decision delayed the A/E firm’s interior design completion by 21 months. oig.federalreserve.gov/reports/boar...
063
David Wessel @davidmwessel.bsky.social · 03/10/2026
What I learned today: Bands of high school students and young adults in Arizona are buying (or stealing) guns and selling them to drug cartels, often Mexican. www.nytimes.com/2026/10/03/w...
nytimes.com
American High School Students Are Selling Guns Bound for Cartels (Gift Article)
Drawn by money and status, teenagers in Arizona are buying, stealing and selling weapons destined for criminal groups in Mexico.
1106
Reposted by David Wessel
Financial Times @financialtimes.com · 02/10/2026
The US Department of Justice will not reopen its criminal probe of Jay Powell over the Federal Reserve’s $2.5bn renovation project, after an investigation by the central bank’s watchdog cleared the former chair of criminal wrongdoing. ft.trib.al/X3hfP3B
13811
Reposted by David Wessel
Justin Wolfers @justinwolfers.bsky.social · 02/10/2026
An all around weak -- but not tragic -- payrolls report for September. +29k jobs created, about 60k below expectations. Revisions made both July and August look weaker, too. Over the past 3 months, we've an average of a mere +17k per month.
2929395
David Wessel @davidmwessel.bsky.social · 02/10/2026
1. They may not support Rs in the mid terms. 2. They may be voting for him for reasons other than economics.
110
David Wessel @davidmwessel.bsky.social · 02/10/2026
Revisions: The change in total nonfarm payroll employment for July was revised down by 31,000, from +21,000 to -10,000, and the change for August was revised down by 29,000, from +162,000 to +133,000.
031
David Wessel @davidmwessel.bsky.social · 02/10/2026
In @financialtimes.com, Gillian Tett reminds us what happened when Nixon banned soybean exports to push down food prices. Short-term gain. Long-term disaster for US farmers. Great for...Brazil. www.ft.com/content/3ae1...
1124
David Wessel @davidmwessel.bsky.social · 02/10/2026
Death of advertising? For $100 a year, washingtonpost.com will show you content ad-free.
150
Reposted by David Wessel
Mike Zaccardi, CFA, CMT @mikezaccardi.bsky.social · 01/10/2026
Corporate profits now represent 14.9% of GDP, the highest share on record going back to 1947 Citadel Rubner
20327125
David Wessel @davidmwessel.bsky.social · 01/10/2026
And more...
122
David Wessel @davidmwessel.bsky.social · 01/10/2026
In TIME interview, Trump absolves Warsh and blames "very hostile Fed board" (including his appointees Waller and Bowman) for 12-0 vote to raise rates. time.com/article/2026...
142
David Wessel @davidmwessel.bsky.social · 01/10/2026
Updated Hutchins Fiscal Impact Measure @brookings.edu shows local, state & federal fiscal policy shaved 0.1 pct pt off Q2 GDP growth. We project fiscal to be moderately restrictive over rest of 2026 and more so in 2027 (assuming no new legislation) www.brookings.edu/articles/hut...
021
David Wessel @davidmwessel.bsky.social · 30/09/2026
Family affair: Erin Browne,(confirmed) undersecretary of the Treasury for international affairs, and Francis Browne, nominated to be undersecretary for domestic finance, are siblings.
041
David Wessel @davidmwessel.bsky.social · 30/09/2026
Some first-class reporting here: Meta shaved $4 billion of its tax bill last year by claiming data centers are experimental and qualify for R&E tax credit. www.nytimes.com/2026/09/30/t...
nytimes.com
How Meta Uses A.I. Data Centers to Avoid Billions in Federal Taxes (Gift Article)
Meta is exploiting a lucrative tax break intended to support research and experimentation. Its own accountants say the gambit is risky.
283
David Wessel @davidmwessel.bsky.social · 30/09/2026
AI-linked corp debt issuing at far longer maturities than US Tsy: in 2026 so far, avg maturity of corp debt was 13.4 yrs (from 11.5 yrs in 2024). US Tsy: 2.5 yrs vs 6.1 yr in 2024). Interest on corporate AI-related debt is only one pct pt point higher than on Treasuries. www.ft.com/content/a120...
030
David Wessel @davidmwessel.bsky.social · 29/09/2026
And my take with Kari Heerman of @brookings.edu www.brookings.edu/articles/cho...
brookings.edu
Chokepoints and coercion: Iran's challenge to maritime openness | Brookings
Access to key maritime chokepoints may be conditioned on political relationships rather than established norms of open transit.
010
David Wessel @davidmwessel.bsky.social · 29/09/2026
John Bolton: Washington’s willingness to maintain freedom of the seas, unilaterally or with allies, has deteriorated in recent years. www.wsj.com/opinion/amer...
wsj.com
Opinion | America Has Gone Wobbly on Freedom of the Seas
Amid threats from Beijing, Tehran and the Houthis, feckless U.S. maritime policy puts allies at risk.
111
David Wessel @davidmwessel.bsky.social · 29/09/2026
Cambridge political economist Helen Thompson: "I don’t think we’re ever really going back to a world in which the US acting as a guarantor of passage through the Strait of Hormuz can be taken for granted." www.ft.com/content/5ae5...
3143
David Wessel @davidmwessel.bsky.social · 28/09/2026
Policy survey panelists were asked about the potential decline in the quality and reliability of federal economic statistics. On a scale of 0 (not at all concerned) to 10 (most concerned) the median is 7.
031
David Wessel @davidmwessel.bsky.social · 28/09/2026
New NABE economists' survey:23% “very concerned” about the Fed being compromised by political interference in the next few years, down from 49% in February. Still, 40% of respondents are currently “somewhat concerned,” roughly the same level as in February. files.constantcontact.com/668faa28001/...
130
David Wessel @davidmwessel.bsky.social · 28/09/2026
Time to buy in Marylebone? House prices in London fell 3.3% in the year to July, the 11th straight month of declines, even before adjusting for inflation. House prices outside of London keep climbing. www.wsj.com/arts-culture...
171
David Wessel @davidmwessel.bsky.social · 28/09/2026
www.newyorker.com/culture/cove...
newyorker.com
Barry Blitt’s “Pulling the Plug”
Is an A.I. kill switch possible?
040