By Rachel Goldfarb, originally published on Next New Deal
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An Aggressive Fed Finds Critics on Wall Street (NYT)
Some bankers blame easy money for the boom-and-bust cycle, writes Peter Eavis, but Fed supporters like Roosevelt Institute Fellow Mike Konczal argue the critics have unrealistic expectations about the economy.
You Still Need to Care About Sky-High Wall Street CEO Pay (U.S. News & World Report)
Pat Garofalo says that while high CEO pay is a problem across the board, it's especially worrisome on Wall Street, where a CEO's decisions can affect the entire economy.
- Roosevelt Take: For more on the problem of executive compensation, see this chapter from "An Unfinished Mission: Making Wall Street Work for Us." For more on the performance pay tax loophole, see "Fixing a Hole," a white paper by Roosevelt Institute Director of Research Susan Holmberg and Roosevelt Institute | Campus Network alumna Lydia Austin.
South Carolina Governor Says Ford, GM, Chrysler Union Jobs not Welcome in State (Detroit Free Press)
Governor Nikki Haley is happier to have unionized companies, including many Detroit-based auto manufacturers, keep their jobs far, far away from her right-to-work state, reports Rudolph Bell.
Why Gap’s Wage Hike Matters (MSNBC)
Ned Resnikoff argues that with House Republicans unlikely to allow a vote on a minimum wage increase, it's worth cheering for companies that do it themselves.
Obama to Drop Entitlement Cuts from 2015 Budget (POLITICO)
Reid J. Epstein reports that the president is done floating compromises for the GOP in his budget. Chained CPI, an inflation metric that would reduce benefit increases for Social Security, is gone.
New on Next New Deal
Roosevelt Institute | Campus Network's Jeff Raines and Joe Swanson consider the effect that the Summer Academy Fellowship has had on their college experiences and career goals.
- Note: Current students can still apply for the Campus Network's Summer Academy. For more information, click here.
Presenting a single number instead of a range of economic opinions is irresponsible of the Congressional Budget Office, writes Jeff Madrick, Roosevelt Institute Senior Fellow and Director of the Bernard L. Schwartz Rediscovering Government Initiative.