Christian E.
Weller

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Christian E. Weller

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Christian E. Weller is a senior fellow at American Progress and a professor of public policy at the McCormack Graduate School of Policy and Global Studies at the University of Massachusetts Boston. His area of expertise includes retirement income security, macroeconomics, money and banking, and international finance. He is also a research scholar at the University of Massachusetts Amherst’s Political Economy Research Institute and an institute fellow at the University of Massachusetts Boston’s Gerontology Institute. Prior to joining the Center, he was on the research staff at the Economic Policy Institute, where he remains a research associate.

Christian has also worked at the Center for European Integration Studies at the University of Bonn in Germany; under the Department of Public Policy of the AFL-CIO in Washington, D.C.; and served in the banking sector in Germany, Belgium, and Poland. He is a respected academic with more than 100 academic and popular publications. His academic publications have appeared in the Journal of Policy Analysis and Management, the Journal of Development Studies, the Cambridge Journal of Economics, the Journal of International Business Studies, the Journal of Aging and Social Policy, and the Journal of Economic Issues, among others. His popular writings have been published in The New York Times, USA Today, and The Atlanta Journal Constitution.

He co-authored with E. Wolff the book, Retirement Income: The Crucial Role of Social Security and was a co-editor of Employee Pensions: Policies, Problems and Possibilities with T. Ghilarducci. In 2006, he was awarded the Outstanding Scholar-Practitioner Award from the Labor and Employment Relations Association. In 2007, Christian was elected to the board of the Labor and Employment Relations Association, one of the country’s largest associations for professionals in the fields of labor and employment relations.

His work is frequently cited in the press and he is often a guest on national TV and radio programs. Christian holds a Ph.D. in economics from the University of Massachusetts, Amherst.

Latest

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Volatile Job Numbers Mask Stagnant Labor Market in the Trump Administration’s Economy: Analysis of the March 2026 Jobs Report Article
People waiting in line outdoors, their backs to the camera

Volatile Job Numbers Mask Stagnant Labor Market in the Trump Administration’s Economy: Analysis of the March 2026 Jobs Report

Job growth over the past year has been flat, even as jobs numbers rebounded in March 2026, resulting in persistent struggles for young workers, workers with college degrees, and Black workers.

In the Wake of Hurricane Helene, Congress Must Invest in Rebuilding Strong, Prosperous, and Climate-Resilient Communities Article
A bridge across Mill Creek damaged by flooding from Hurricane Helene is seen in Old Fort, North Carolina.

In the Wake of Hurricane Helene, Congress Must Invest in Rebuilding Strong, Prosperous, and Climate-Resilient Communities

The Biden-Harris administration has rapidly mobilized disaster relief aid to Appalachia and other hard-hit areas. Congress must act quickly to deliver the funds required to rebuild communities that can prosper and withstand future climate disasters.

Cathleen Kelly, Christian E. Weller, Natalie Baker

A New Vision for Social Housing in America Article
Roadwork is seen being done in front of a low-income housing project in the Bronx borough of New York City on October 30, 2022.

A New Vision for Social Housing in America

The most effective way to solve America’s severe housing affordability crisis is to undertake a bold federal program of social housing construction that will deliver millions of new affordable, self-sustaining housing units located in opportunity-rich areas.

Kevin DeGood, Christian E. Weller, David Ballard, 1 More Jessica Vela

Wealth of Younger Americans Is Historically High Article
Recent homebuyers move into their new condo.

Wealth of Younger Americans Is Historically High

Due to a historic economic recovery, inflation-adjusted wealth for younger Americans has grown 49 percent since right before the pandemic—a positive trend following decades of stagnation.

Brendan Duke, Christian E. Weller

President Biden’s Economic Agenda Will Help Make Life More Affordable Without Adding To Inflation Article
Capitol building is pictured in fall.

President Biden’s Economic Agenda Will Help Make Life More Affordable Without Adding To Inflation

The Build Back Better Act and the already enacted bipartisan Infrastructure Investment and Jobs Act will help reduce inflationary pressures in the coming years and lower costs on essentials such as prescription drugs, energy, child care, and housing.

Rose Khattar, Andres Vinelli, Christian E. Weller

Wealth Matters: The Black-White Wealth Gap Before and During the Pandemic Report
A group of people walk past the

Wealth Matters: The Black-White Wealth Gap Before and During the Pandemic

The lack of wealth in many African-American households has left them especially vulnerable to the financial fallout from the coronavirus crisis; but the federal government has perhaps its best opportunity yet to fix these racial disparities.

Christian E. Weller, Richard Figueroa

Economic Stewardship in Times of Crisis Report
 (The top level of a parking garage near the U.S. Capitol sits empty on March 18, 2020, in Washington, D.C.)

Economic Stewardship in Times of Crisis

Productivity-enhancing investments, inequality-reducing revenues, and strong financial regulation are all central to responsible fiscal policy.

Andy Green, Christian E. Weller

Trump’s Plan To Defund Social Security Article
President Donald Trump walks up to speak during a news conference at the White House on August 10, 2020, in Washington, D.C. (Getty/Alex Wong)

Trump’s Plan To Defund Social Security

Permanently terminating the employee payroll tax along the lines President Trump has proposed would empty Social Security’s trust fund by 2026 or earlier.

Seth Hanlon, Christian E. Weller

Corporate Governance and Workers Report
 (A street sign with the text

Corporate Governance and Workers

Power within corporations has shifted away from Main Street in favor of Wall Street, but collective bargaining, competition, tax fairness, and corporate long-termism can help American capitalism do better.

Andy Green, Christian E. Weller, Malkie Wall

Caring For A Loved One Hurts Women’s Retirement Prospects In the News

Caring For A Loved One Hurts Women’s Retirement Prospects

Author Christian Weller examines how women in the labor market are more likely to take on unpaid or family caregiving responsibilities and as a result, tend to experience lower earnings, less job stability, and far lower retirement savings.

Forbes

Christian E. Weller

Racial Wealth Gap Much Smaller Among Union Members In the News

Racial Wealth Gap Much Smaller Among Union Members

Author Christian Weller explains why shrinking the racial wealth gap will require better access to good jobs for communities of color—and widespread unionization is one way to help level the playing field.

Forbes

Christian E. Weller

Systematic Inequality Report

Systematic Inequality

The already large racial wealth gap between white and black American households grew even wider after the Great Recession. Targeted policies are necessary to reverse this deepening divide.

Angela Hanks, Danyelle Solomon, Christian E. Weller

The Racial Gap Widens and Policymakers Turn Their Backs In the News

The Racial Gap Widens and Policymakers Turn Their Backs

Christian E. Weller argues that the racial wealth gap grew after the Great Recession, and instead of creating new opportunities to address this, the Trump administration's plans only worsen the problem.

Spotlight on Poverty and Opportunity

Christian E. Weller

The trouble with the Trump-Pence Carrier deal: Giving away tax benefits to get jobs to stay is woefully inefficient In the News

The trouble with the Trump-Pence Carrier deal: Giving away tax benefits to get jobs to stay is woefully inefficient

Christian Weller discusses how the deal between Carrier manufacturing company and President-elect Donald Trump and Vice President-elect Mike Pence will affect middle-class families in the long term.

New York Daily News

Christian E. Weller

An Infrastructure Plan for America Report
Ironworkers secure a cross member on a highway bridge under construction in Cleveland, August 2013. (AP/Mark Duncan)

An Infrastructure Plan for America

At each stage of our national development, the federal government has made major investments in infrastructure to accommodate future population growth and facilitate economic prosperity. The time has come once again to make sustained investments across sectors to ensure the United States is poised to thrive in the 21st century.

Kevin DeGood, Christian E. Weller, Andrew Schwartz

Economic Snapshot: October 2015 Report
An assembly line employee works on a car in Sterling Heights, Michigan, on March 14, 2014. (AP/Paul Sancya)

Economic Snapshot: October 2015

Lawmakers should strengthen the economic recovery through policies that support middle-class families.

Christian E. Weller, Shiv Rawal, Danielle Corley

Economic Snapshot: September 2015 Report
Light rail repairer Jack Egan works on railcar wheels at the Massachusetts Bay Transportation Authority's Riverside Maintenance Facility in Newton, Massachusetts in June 2015. (AP/Steven Senne)

Economic Snapshot: September 2015

Congress can and should act to strengthen the economy in order to boost the economic fortunes of middle-class families.

Christian E. Weller, Jackie Odum

Economic Snapshot: August 2015 Report
David Row helps his 8-year-old son Lestat learn to ride a bicycle as a homeless man reads outside a homeless shelter in Los Angeles on September 14, 2011. (AP/Jae C. Hong)

Economic Snapshot: August 2015

America’s middle class deserves a shot at real economic security, and it is about time that policymakers make it happen.

Christian E. Weller, Jackie Odum

Economic Snapshot: July 2015 Report
New York State Trooper Maxine Mendez, left, speaks to Xiaojiao Zuo about employment opportunities during a U.S. Chamber of Commerce jobs expo in New York on June 30, 2015. (AP/Mary Altaffer)

Economic Snapshot: July 2015

Middle-class economic stability for all is the key to stronger economic growth and should be front and center on policymakers’ agendas.

Christian E. Weller, Jackie Odum

Economic Snapshot: June 2015 Report
A jobseeker listens to an employer during a job fair in Sunrise, Florida, June 2015. (AP/Alan Diaz)

Economic Snapshot: June 2015

Policymakers need to create real economic security by fighting the twin evils of massive income inequality and anemic economic growth.

Christian E. Weller, Jackie Odum

Economic Snapshot: May 2015 Report
A corporate recruiter speaks with job applicants during a job fair in Chicago, April 2015. (AP/M. Spencer Green)

Economic Snapshot: May 2015

Policymakers need to build on successes of past progressive policies by implementing measures that raise wages and boost productivity growth.

Christian E. Weller, Jackie Odum

April 2015 Report
Job seekers fill out job applications at a Bed Bath & Beyond table at a job fair in Miami Lakes, Florida, October 2014. (AP/Alan Diaz)

April 2015

Policymakers need to build on successes of past progressive policies by implementing measures that raise wages and boost productivity growth.

Christian E. Weller, Jackie Odum

March 2015 Report
A roofer works under the midday sun in Gilbert, Arizona, in July 2014. (AP/File)

March 2015

Policymakers need to build on successes of past progressive policies by implementing measures that raise wages and boost productivity growth.

Christian E. Weller, Jackie Odum

February 2015 Report
Instructor Lavinda Young, left, helps Fabian Perez, center, and Lazaro Chaviano, right, with their resumes during a job fair at the Hospitality Institute, in Miami on January 23. (AP/Lynne Sladky)

February 2015

Policymakers need to build on successes of past progressive policies by implementing policies that raise wages and boost productivity growth.

Christian E. Weller, Jackie Odum

January 2015 Report
An abandoned school is locked near downtown in Danville, Illinois, where manufacturers that provided thousands of middle-class jobs have closed. (AP/Seth Perlman)

January 2015

Americans are still waiting for an economy that works for everyone, rather than a lucky few.

Christian E. Weller, Jackie Odum

December 2014 Report
A homeless man sleeps on the sidewalk under a holiday window at Blanc de Chine in New York. (AP/Mark Lennihan)

December 2014

Economic data show that it is time for an economy that works for everyone and not just the wealthy few.

Christian E. Weller, Jackie Odum

November 2014 Report
Job seekers attend a job fair in Miami Lakes, Florida, October 2014. (AP/Alan Diaz)

November 2014

This month’s economic data shows that it’s time for an economy that works for everyone and not just the wealthy few.

Christian E. Weller, Jackie Odum

October 2014 Report
Job seekers Madelin Garcia, right, and Noharis Nunez fill out a job applications at a job fair in Miami Lakes, Florida. (AP/Alan Diaz)

October 2014

Congress needs to play its part in building a postrecession economy for everyone and not just the wealthy few.

Christian E. Weller, Jackie Odum

September 2014 Report
Cindy Reilly, center, sets the dinner table for her children Isabella, 7, left, Sierra, 4, and her husband Mike in the kitchen of their home in Nipomo, California. (AP/Eric Parsons)

September 2014

New economic data shows that post-recession gains continue to go to the wealthiest while the middle class continues to be squeezed.

Christian E. Weller, Jackie Odum

August 2014 Report
A jobseeker listens to an employer during a job fair in Sunrise, Florida, June 2015. (AP/Alan Diaz)

August 2014

As we approach Labor Day, Congress needs to cut the party-line bickering and refocus its efforts on policies that help American workers.

Christian E. Weller, Jackie Odum

A Win-Win for an All-In Nation Report

A Win-Win for an All-In Nation

Improving economic and health outcomes for communities of color has the potential to help combat Social Security’s projected shortfall and improve the economic security of a struggling middle class.

Christian E. Weller, Farah Z. Ahmad

July 2014 Report
Job seekers wait in a line at a job fair in Southfield, Michigan. (AP/Paul Sancya)

July 2014

Despite an improving labor market, Congress needs to do more to create opportunity for all American families.

Christian E. Weller, Jackie Odum

June 2014 Report
Recruiter Christina O, with New Western Acquisitions, left, take Raheem Shaw's resume during a job fair, June 23, 2014. (AP/Matt Rourke)

June 2014

Five years after the Great Recession, conservative lawmakers continue to stifle our economy and the middle class.

Christian E. Weller, Jackie Odum

May 2014 Report
President Barack Obama meets with business leaders about creating and investing in jobs in the United States, Tuesday, May 20, 2014, in the Roosevelt Room of the White House in Washington. (AP/Charles Dharapak)

May 2014

Despite a broken Congress, the president can still push progressive policies to help strengthen the middle class.

Christian E. Weller, Jackie Odum

One Size Does Not Fit All In the News

One Size Does Not Fit All

Farah Z. Ahmad and Christian E. Weller explain how the data currently collected obscure Asian American inequality.

National Journal

Farah Z. Ahmad, Christian E. Weller

April 2014 Report
Elizabeth Rich helps a man sign up for the Affordable Care Act at Swope Health Services in Kansas City, Missouri. (AP/Charlie Riedel)

April 2014

Progressive policies similar to the Affordable Care Act can lay the foundation for stronger growth and help those most in need.

Christian E. Weller

March 2014 Report
Recruiter Valera Kulow, left, speaks with job seeker Leonardo Vitiello during a career fair in Dallas. (AP/LM Otero)

March 2014

Progressive fiscal policy must complement monetary policy to boost economic growth.

Christian E. Weller, Sam Ungar

Reading Between the Data Report
 (San Francisco woman and mural)

Reading Between the Data

When considering how best to address economic inequality, policymakers need to understand the complexity and diversity within the Asian American community.

Farah Z. Ahmad, Christian E. Weller

February 2014 Report
The economic challenges for America’s middle class and the American Dream are massive and require bold and swift responses from policymakers. (AP/Andres Kudacki)

February 2014

In the fifth year of recovery, policymakers must create an economy that works for everyone.

Christian E. Weller, Sam Ungar

January 2014 Report
Stan Osnowitz, 67, is one of the 1 million long-term unemployed Americans who lost their unemployment insurance benefits in December. (AP/Patrick Semansky)

January 2014

To help the middle class and create jobs, Congress should pass a one-year extension of unemployment benefits and raise the federal minimum wage.

Christian E. Weller, Sam Ungar

December 2013 Report
Volunteers at St. Ignatius Food Pantry bag items for individuals and families as a temporary increase in food stamp dollars from the 2009 economic stimulus expires, and more than 2 million low-income Illinois residents benefits are cut. (AP/M. Spencer Green)

December 2013

Economic data show that this is a recovery for the rich—not a recovery for everyone.

Christian E. Weller, Sam Ungar

November 2013 Report
Retired U.S. Air Force Master Sgt. Thomas Gipson, of Atlanta, right, has his resume looked over by Ralph Brown, a management and program analyst with the Centers for Disease Control and Prevention, during a job fair for veterans at the VFW Post 2681, Thursday, November 14, 2013, in Marietta, Georgia. (AP/David Goldman)

November 2013

Economic data show that Congress’s fiscal brinksmanship is keeping businesses from investing in America and consequently holding back overall growth.

Christian E. Weller, Sam Ungar

Creating Economic Security Report
A 2011 1040 tax form is seen with other tax forms at the entrance of the Illinois Department of Revenue in Springfield, Illinois. (AP/Seth Perlman)

Creating Economic Security

Matching savings by low-income families through refundable tax credits would build families’ economic security and create more-balanced savings incentives in the tax code.

Joe Valenti, Christian E. Weller

October 2013 Report
The recent federal government shutdown negatively affected the economy this month. (Flickr/wizzer2801)

October 2013

Congress must move past its partisan pettiness and enact policies to help the American economy.

Christian E. Weller, Sam Ungar

September 2013 Report
Luis Rodriguez, who has been out of work for a year, fills out some forms at the California Employment Development Department office in Sacramento, California, Friday, September 20, 2013. (AP/Rich Pedroncelli)

September 2013

As we draw closer to a fiscal crisis, Congress must not allow the American economy to be held hostage by radicals bent on scorching the earth.

Christian E. Weller, Sam Ungar

August 2013 Report
A home is sold in Mt. Lebanon, Pennsylvania, Tuesday, July 23, 2013. (AP/Gene J. Puskar)

August 2013

Policymakers need to find and enact policies that can spur faster economic growth.

Christian E. Weller, Sam Ungar

July 2013 Report
Employment Specialist Louis Holliday, right, helps an applicant file for unemployment at a Georgia Department of Labor career center, Thursday, July 18, 2013, in Atlanta, Georgia. (AP/David Goldman)

July 2013

Economic and labor-market gains continue this month, but policymakers should focus on long-term strategies to strengthen the American people and help U.S. businesses prosper.

Christian E. Weller, Sam Ungar

The Universal Savings Credit Report
Today’s tax incentives for savings are more of an obstacle than an aid for low- and middle-income Americans. (AP/Bradley C. Bower)

The Universal Savings Credit

Implementing the Universal Savings Credit will help low- and middle-income Americans struggling to rebuild the wealth they lost over the course of the Great Recession.

Christian E. Weller, Sam Ungar

June 2013 Report
Job seekers fill a room at the job fair. In the State of the Union, President Barack Obama must address the minimum wage and retirement security, among other topics, to tackle inequality.

June 2013

Despite gains in the housing market, economic growth and labor-market growth remain too slow to make a difference for the American middle class.

Christian E. Weller, Sam Ungar

May 2013 Report
A home is for sale in Mt. Lebanon, Pennsylvania, May 6, 2013. The housing market continues to recover from historic lows as unemployment and economic suffering remain too high. (AP/Gene J. Puskar)

May 2013

It’s time to consider additional policy measures to bring down unemployment and economic suffering from their still-too-high levels.

Christian E. Weller, Sam Ungar

April 2013 Report
In this Thursday, April 3, 2013, photo, people fill out applications at the Green Mountain Flagging table at the 4th Annual Central Vermont Job Fair in Montpelier, Vermont. (AP/Toby Talbot)

April 2013

The U.S. economy needs more policy attention in order to reach a self-sustaining recovery.

Christian E. Weller, Sam Ungar

March 2013 Report
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March 2013

Though the economy and job market have both maintained steady growth, lawmakers can do more to ensure a positive future for struggling Americans and a prosperous economy for all.

Christian E. Weller, Sam Ungar

February 2013 Report
The lights of the U.S. Capitol remain lit into the night on Tuesday, January 1, 2013. (AP/Jacquelyn Martin)

February 2013

Policymakers can accelerate modest recovery with increased infrastructure investments and boosts to personal income.

Christian E. Weller

January 2013 Report
Fog obscures the Capitol dome on Capitol Hill in Washington on Monday, December 10, 2012. The resolution of the fiscal showdown allowed the economy to keep growing in January, but more needs to be done to help the economy. (AP/J. Scott Applewhite)

January 2013

The modest recovery continues, held back by the unresolved debt ceiling and spending cuts that create uncertainty, slowing job creation and economic growth.

Christian E. Weller

December 2012 Report
In this Friday, February 22, 2013, photo, a

December 2012

Our modest economic recovery will need continued attention, and policymakers must quickly resolve the fiscal showdown to end the uncertainty that could derail the recovery.

Christian E. Weller

Continuing Our Resilient Economic Recovery Article

Continuing Our Resilient Economic Recovery

Christian E. Weller testifies before the Joint Revenue Hearing, House and Senate Ways and Means Committees, at the Massachusetts State House in Boston, Massachusetts.

Christian E. Weller

November 2012 Report
In this Thursday, October 25, 2012, photo, Carmen Nazario of Albany, New York, fills out an employment application during a job fair at the Marriott Hotel in Colonie, New York. (AP/Mike Groll)

November 2012

Policymakers need to continue paying attention to our moderate economic recovery.

Christian E. Weller

Obama’s Economy Is Driving Well, Considering the Hand Brake Is On In the News

Obama’s Economy Is Driving Well, Considering the Hand Brake Is On

Smart choices by President Obama and Congress have saved the economy from another recession and put it on the path to recovery. Policymakers can continue to help the economy by removing the obstacles to faster growth, such as helping struggling states retain teachers.

Christian Science Monitor

Christian E. Weller

October 2012 Report
A home is shown inside the Winthrop subdivision in Riverview, Florida. (AP/Chris O'Meara)

October 2012

Policymakers need to build on past policy experience to strengthen the economic recovery.

Christian E. Weller

September 2012 Report
People looking for work talk at a Primerica job booth at a job fair in San Jose, California. The economy continued to make gains in September but remains sluggish in some areas. (AP/Paul Sakuma)

September 2012

Policymakers need to support a struggling economy with proactive investments.

Christian E. Weller

August 2012 Report
Linda Robinson and her husband Timothy use a computer to look for work at WorkForce One in Hollywood, Florida. Though the economy continued to make modest gains in August, policymakers must do more to ensure economic and job growth in the months to come.<br /> (AP/Lynne Sladky)

August 2012

Policymakers should not let politics stand in the way of boosting economic and job growth, writes Christian E. Weller.

Christian E. Weller

July 2012 Article
People walk by recruiters at a jobs fair in the Pittsburgh suburb of Green Tree, Pennsylvania, Tuesday, July 10, 2012. (AP/Keith Srakocic)

July 2012

Slow job growth and lingering wealth losses should be at the top of lawmakers’ minds, writes Christian E. Weller.

Christian E. Weller

June 2012 Article
In this June 13, 2012, photo, job seekers have their resumes reviewed at a job fair expo in Anaheim, California. (AP/Jae C. Hong)

June 2012

Policymakers need to create more economic certainty for American families, writes Christian E. Weller.

Christian E. Weller

May 2012 Article
Construction workers finish up on a new home seen for sale in Springfield, Illinois. Americans bought more new homes in April, the latest signal that the U.S. housing market is steadily improving. (AP/Seth Perlman)

May 2012

Policymakers should feel a sense of urgency about helping America’s middle class, writes Christian Weller.

Christian E. Weller

Making Investments Today for a Competitive Economy Tomorrow Report
James Sellers, left, vice president of AUS Manufacturing Co., watches one of his employees, Jimmy Payne, grind a piece of equipment at the plant in Bonifay, Florida. (AP/ Phil Coale)

Making Investments Today for a Competitive Economy Tomorrow

Policymakers must refocus their sights on ensuring we make the necessary investments today in education, science, and research and development that play an essential role in driving private-sector innovation and productivity, write Adam Hersh and Christian E. Weller.

Adam Hersh, Christian E. Weller

GDP Data Show Policymakers Still Have Work To Do Article
Consumption of goods and services increased by 2.9% in the first quarter   of this year, up from 2.1% in the fourth quarter 2011 and the fastest   growth rate in more than a year, but continued  policy attention is needed to make sure that consumer demand stays strong. (AP/ Mark Lennihan)

GDP Data Show Policymakers Still Have Work To Do

Congress should focus on addressing sluggish business investment, keeping up consumer demand, and supporting our middle class who are still recovering from the hammering they took during the Great Recession, writes Christian E. Weller.

Christian E. Weller

April 2012 Article
An unidentified worker sews together the parts that make up a baseball glove at the Nokona Baseball Glove Company in Nocona, Texas. (AP/ Orlin Wagner)

April 2012

The economic outlook is better for families, writes Christian E. Weller, but trouble spots remain, particularly on the jobs front.

Christian E. Weller

Economic Gap Widens for Blacks In the News

Economic Gap Widens for Blacks

Christian E. Weller and Julie Ajinkya discuss how the economic gap is widening for black Americans.

The Root

Christian E. Weller, Julie Ajinkya

The State of Communities of Color in the U.S. Economy Report
Dennis Allen, center, hugs and kisses his daughters in Tulia, Texas. Many families in communities of color have been particularly hard hit by the Great Recession and have had a harder time is the recover, as well.
<br /> (AP Photo/LM Otero)

The State of Communities of Color in the U.S. Economy

Christian E. Weller, Julie Ajinkya, and Jane Farrell explain how communities of color were hit particularly hard by the Great Recession in 2007 and how they're still struggling as the economy recovers.

Christian E. Weller, Julie Ajinkya, Jane Farrell

March 2012 Article
Private-sector job creation continues to rise but smart economic policy is needed to continue strengthening the recovery. (AP/ Rick Bowmer)

March 2012

Smart economic policy can continue to strengthen the economic recovery and help accelerate private-sector job creation, writes Christian E. Weller.

Christian E. Weller

February 2012 Article
A member of the Home Defenders League talks with a Bank of America worker during a rally in front of a Bank of America branch in June 2011. Massive household debt is the reason why foreclosures have remained high in the past few years. (AP/Paul Sakuma)

February 2012

Our economy is recuperating but getting it back to full health will require policies aimed at job creation and at the most vulnerable, says Christian E. Weller.

Christian E. Weller

January 2012 Article
Zenobia Bechtol and her 7-month-old daughter Cassandra are seen  in the dining room of her mother's apartment in Austin, Texas, on December 14, 2011, after Bechtol and her boyfriend were evicted from their  apartment after he lost his job. High unemployment as well as poverty continue to affect many Americans. (AP/Erich Schlegel)

January 2012

Smart economic policy can continue to strengthen the economic recovery, writes Christian E. Weller.

Christian E. Weller

Optimistic Jobs Report Masks Persistent Weaknesses In the News

Optimistic Jobs Report Masks Persistent Weaknesses

The better-than-expected performance of the labor market in December 2011 is definitely welcome, but it should not detract from the fact that much work remains to be done, writes economist Christian Weller in MarketWatch.

MarketWatch

Christian E. Weller

Time to Invest in Future Competitiveness Article
While productivity has been increasing, public investments in education, science, and research and development are need to drive private-sector innovation and  productivity to the frontier of possibility and beyond. (AP/ John Gress)

Time to Invest in Future Competitiveness

Adam S. Hersh and Christian E. Weller explore recent productivity enhancing trends to discern whether our nation is heading in the right direction. Short answer: We’re not.

Christian E. Weller, Adam Hersh

December 2011 Article
People wait in line to enter a job fair Friday, December 2, 2011, in, Portland, Oregon. The unemployment rate stood at 8.6 percent in November 2011, and the average length of unemployment reached a new record high of 40.9 weeks. (AP/Rick Bowmer)

December 2011

Economic growth will require some additional policy support in the near term, writes Christian E. Weller.

Christian E. Weller

Working Against Economic Headwinds Article

Working Against Economic Headwinds

Christian E. Weller testifies before the Massachusetts legislature to discuss U.S. economic recovery and its effect on the Massachusetts economy.

Christian E. Weller

November 2011 Article
Job seekers stand in line and wait to enter a career fair in Independence, Ohio, Thursday, November 10, 2011. (AP/Tony Dejak)

November 2011

The economy isn’t growing fast enough to bring down unemployment, writes Christian E. Weller. Policymakers need to step in with targeted measures.

Christian E. Weller

We Need a Leader at the Consumer Financial Protection Bureau Article
The Consumer Financial Protection Bureau was established in part to give customers more information on confusing bank fees and noninterest charges, which have increased significantly over the past 30 years. (Flickr/<a href=mikeywally)" data-srcset="https://www.americanprogress.org/wp-content/uploads/sites/2/2011/11/cfpb_nominee_onpage.jpg?w=610 610w, https://www.americanprogress.org/wp-content/uploads/sites/2/2011/11/cfpb_nominee_onpage.jpg?w=610 610w, https://www.americanprogress.org/wp-content/uploads/sites/2/2011/11/cfpb_nominee_onpage.jpg?w=610 610w, https://www.americanprogress.org/wp-content/uploads/sites/2/2011/11/cfpb_nominee_onpage.jpg?w=500 500w, https://www.americanprogress.org/wp-content/uploads/sites/2/2011/11/cfpb_nominee_onpage.jpg?w=250 250w" data-sizes="auto" />

We Need a Leader at the Consumer Financial Protection Bureau

Christian E. Weller shows how banks fatten up on fees at the expense of everyday consumers, which Senate Republicans support by blocking the first CFPB chairman.

Christian E. Weller

October 2011 Article
Job seekers talk with prospective employers at a job fair Wednesday, October 26, 2011, in Brookpark, Ohio. Private-sector job growth is too weak to improve the economic fortunes of America’s middle class, making jobs policymakers’ top priority. (AP/Tony Dejak)

October 2011

Policy needs to focus on creating more and better jobs more quickly, writes Christian E. Weller.

Christian E. Weller

Buyer Beware Report
Sixth-grade teacher Linda Floro poses in her classroom at the Bell Elementary School in Papillion, Nebraska, Friday, September 25, 2009. (AP/Nati Harnik)

Buyer Beware

Christian Weller explains why states and localities face substantial risks with respect to public-sector productivity when switching from defined-benefit pensions to alternative retirement benefits.

Christian E. Weller

September 2011 Article
People wait in line at the 2011 Maximum Connections Job and Career Fair, Thursday, September 15, 2011, in Portland, Oregon. (AP/Rick Bowmer)

September 2011

Smart jobs policy can help struggling families in the short term while improving the foundation for faster economic growth in the future, writes Christian E. Weller.

Christian E. Weller

August 2011 Article
Job seekers line up to see recruiters during a career fair in Plano, Texas, on August 15, 2011. The unemployment rate stood at 9.1 percent in July 2011, making jobs a continued focus for policymakers. (AP/LM Otero)

August 2011

Policymakers have a tough task ahead of balancing economic growth with deficit reduction, writes Christian E. Weller. But it’s not an impossible task.

Christian E. Weller

July 2011 Article
A large line of attendees wraps around the room as others sit filling out applications and looking through classifieds during a National Career Fairs job fair Wednesday, July 13, 2011, in Dallas. Businesses are worried about Congress’s inability to come  to an agreement on the debt ceiling that protects economic growth, and they are putting off hiring in this time of heightened economic uncertainty. (AP/Tony Gutierrez)

July 2011

Policymakers need to resolve the debt limit debate in a way that doesn’t hurt economic growth, writes Christian E. Weller.

Christian E. Weller

La inacción del Congreso Article

La inacción del Congreso

Christian E. Weller detalla en La Opinión por qué las tasas de interés hipotecario aumentarían, y las ventas de viviendas, los valores de las viviendas y los trabajos en la construcción se reducirían de manera pronunciada si el Congreso no accede a levantar el límite de deuda.

Christian E. Weller

June 2011 Article
Job seekers stand in line at a job fair in Southfield, Michigan, Wednesday, June 15, 2011. There were still 6.9 million fewer jobs in May 2011 than at the start of the recession in December 2007, and the population has also grown since then, putting the labor market deeper into the hole than the raw number suggests. (AP/Paul Sancya)

June 2011

Failing to raise the debt ceiling would threaten a fragile recovery, writes Christian E. Weller in this month’s economic outlook.

Christian E. Weller

Not Again Report
Gas prices are seen on a sign at an Exxon station. Families are in for another summer of high gas prices with no end in sight. (AP Photo/Keith Srakocic)

Not Again

Christian E. Weller and Jaryn Fields explain why energy price volatility hurts families, businesses, and the economy.

May 2011 Article
A price board is shown at a Shell gas station in Novato, California, Thursday, May 5, 2011. A gallon of regular gasoline cost at least $3.96 through the first three  weeks of May 2011. This is the highest gasoline price since July 2008. (AP/Jeff Chiu)

May 2011

The current budget negotiations need to find a growth-enhancing balance between spending and revenue changes that do not unduly burden middle-class families, writes Christian Weller.

Christian E. Weller

Growing Concerns About Future U.S. Competitiveness Report
Terri Lewis installs a fan on a diesel engine on the Volvo truck assembly line at the Volvo plant in Dublin, Virginia. (AP/Steve Helber)

Growing Concerns About Future U.S. Competitiveness

As the U.S. economy climbs out of the Great Recession, several economic trends raise concerns about the future outlook for U.S. productivity growth, write Adam Hersh and Christian E. Weller.

Adam Hersh, Christian E. Weller

April 2011 Article

April 2011

Policymakers have to secure the gains of the recovery while strengthening the recovery for the American middle class, writes Christian E. Weller in this month's economic snapshot.

Christian E. Weller

March 2011 Article
Rising oil prices are putting a damper on household budgets. (AP/Gregory Bull)

March 2011

Policymakers must act to secure tentative economic gains, writes Christian Weller.

Christian E. Weller

February 2011 Article
State of California Employment Program Representative Brigitta Croil assists job seeker Freddy Gomez at the Verdugo Job Center in Glendale, California, on February 3, 2011. Unemployment remains extraordinarily high such as communities of color, young job entrants, and people with little educational attainment. (AP/Damian Dovarganes)

February 2011

Policymakers need to build on the success of past initiatives such as the Recovery Act to strengthen the labor market recovery, writes Christian E. Weller.

Christian E. Weller

Measuring Future U.S. Competitiveness Report
Workers install seals on a door frame on the Volvo truck assembly line at the Volvo plant in Dublin, Virginia. Productivity growth for the first 12 quarters of this business cycle, from December 2007 to December 2010, totaled 7.6 percent, below the average of 8.5 percent for the previous eight business cycles lasting at least three years. (AP/Steve Helber)

Measuring Future U.S. Competitiveness

Adam S. Hersh and Christian E. Weller show that policymakers must give more attention to strengthening factors that could lead to future productivity growth and rising living standards.

Adam Hersh, Christian E. Weller

January 2011 Article
A roofer works on a house in the planned community of Monterra, in Cooper City, FL, January 18, 2011. Policymakers have to focus on jobs, especially for groups seeing extraordinarily high unemployment such as communities of color, young job entrants, and people with little educational attainment. (AP/J Pat Carter)

January 2011

Good jobs that pay solid wages should remain a top priority for policymakers as our labor market continues to lumber, writes Christian E. Weller.

Christian E. Weller

December 2010 Article
Jay Bashant, of Buckyeye, AZ, looks over job ads at the Maricopa County Workforce Connections job fair in Phoenix on November 23, 2010. The unemployment rate remains high while families experience massive  financial distress as foreclosures and credit defaults hover near record  highs. (AP/Matt York)

December 2010

Building a bridge to a stronger, self-sustaining recovery remains a top policy priority, writes Christian E. Weller.

Christian E. Weller

November 2010 Article
Unemployed workers fill out online resumes at the Maricopa County Workforce Connections job fair on November 23, 2010, in Phoenix, AZ. Economic growth is subdued, and job creation stays sluggish. (AP/Matt York)

November 2010

Building a self-sustaining recovery should remain a top policy priority given slow job creation and widespread financial distress, writes Christian E. Weller.

Christian E. Weller

October 2010 Article
KW Hardscape employee Eric Hengehold stacks stones in an accent pond on October 21, 2010 in Chandler, AZ. Arizona's unemployment rate stands at 9.7 percent for the second consecutive month. (AP/Matt York)

October 2010

The economy is recovering, but public policy still needs to be aimed at job creation, writes Christian E. Weller.

Christian E. Weller

September 2010 Article
Job seekers check listings on a job board at the Nevada JobConnect Career Center on September 1, 2010 in Las Vegas. (AP/Julie Jacobson)

September 2010

Policy needs to intervene to create more jobs quickly so that businesses see more customers and American families can ultimately shake the economic burdens left over from the economic crisis, writes Christian E. Weller.

Christian E. Weller

August 2010 Article
A roofer woks on a new home in view of One Liberty Place skyscraper in Philadelphia. The private sector is beginning to grow again, but there is still trouble in the housing market. (AP/Matt Rourke)

August 2010

The private sector is on the road to recovery, but high household debt, large trade deficits, and weak state and local finances endanger this growth, writes Christian E. Weller.

Christian E. Weller

Obama’s Pro-Market Economics Article
President Barack Obama speaks about the economy in Las Vegas, Nevada. (AP/Eric Jamison)

Obama’s Pro-Market Economics

Conservatives in Congress spin an alternate reality of government takeovers when in fact these reforms will ensure better quality, more choices, and competitive prices for consumers, writes Christian E. Weller.

Christian E. Weller

Economic Snapshot for June 2010 Report
Eduardo Mendoza looks over job ads during the ninth annual Skid Row Career Fair at Los Angeles Mission in Los Angeles. (AP/Adam Lau)

Economic Snapshot for June 2010

The economic recovery has gained momentum, writes Christian E. Weller, but we will have to work on job growth, state finances, and the trade deficit to stabilize growth.

Christian E. Weller

The Cost of Risk in the Oil Market Article
Crew members with Anadarko Petroleum Corporation work on a drilling platform on a farm near Mead, CO. If policymakers in Congress and the Obama administration manage to reduce our country’s dependence on oil, the cost of oil's risk premium to consumers could be spent on other things. (AP/Ed Andrieski)

The Cost of Risk in the Oil Market

BP says it is “self-insured” for the costs of the Gulf Coast oil disaster, but businesses and consumers ultimately pay that risk premium every day to oil companies, explain Christian E. Weller and Luke Reidenbach.

Economic Snapshot for April 2010 Report
Workmen build windows at a factory in Philadelphia. The economic recovery is spreading and merchants are seeing better sales and factories are boosting production, but many companies are still wary of ramping up hiring. (AP/Matt Rourke)

Economic Snapshot for April 2010

The economic recovery we’re seeing now is the start of a long process of ensuring stronger job growth and business investments, writes Christian E. Weller.

Christian E. Weller

March 2010 Article
Traders react on the floor of the New York Stock Exchange. Companies are now sitting on cash, but they're going to need to spend it on investments and people for the economy to recover. (AP/Richard Drew)

March 2010

Companies are sitting on cash, but they need to spend it on investments and people, writes Christian E. Weller.

Christian E. Weller

The U.S. Trade Trap Article
In this August 12, 2009 photo, containers are shown stacked and ready for export at the Port of Long Beach, California. U.S. exports have grown strongly since the spring of 2009, but our economy is not reaping the full benefits of more exports in terms of shrinking trade deficits and more job creation. (AP/Nick Ut)

The U.S. Trade Trap

Stronger U.S. exports create rising trade deficits and slower economic growth, observes Christian E. Weller. Breaking this Catch-22 requires stronger U.S. manufacturing and energy policies.

Christian E. Weller

December 2009 Article
The check-out line winds through a Target store in Mayfield Heights, OH on Black Friday. (AP/Amy Sancetta)

December 2009

The economy is in recovery, but now we must work on ensuring strong job gains and durable economic growth, writes Christian E. Weller.

Christian E. Weller

November 2009 Article
A woman waits to get help with her resume at JobTrain job training facility in Menlo Park, California. (AP/Paul Sakuma)

November 2009

Policy attention should focus on job creation to ensure that the recent improvements are not short lived, writes Christian E. Weller.

Christian E. Weller

Stimulus Aids Strong Economic Rebound Article
Consumption spending increased by 3.4 percent this quarter, its strongest growth since the first quarter of 2007. This was largely due to a 22.3 percent jump in spending on consumer durables. (AP/Paul Sakuma)

Stimulus Aids Strong Economic Rebound

Third quarter GDP numbers show strong growth aided by the American Recovery and Reinvestment Act, but it’s not a strong and sustained recovery yet, writes Christian E. Weller.

Christian E. Weller

October 2009 Article
A woman works on a computer at the Milwaukee Hire Center in Milwaukee, WI. The average length of unemployment in September 2009 was 26.2 weeks, the median length of unemployment was 17.3 weeks, and 35.6 percent of the unemployed were out of a job for 27 weeks or more. All of these indicators are at their highest level since 1948. (AP/Morry Gash)

October 2009

Christian E. Weller argues that policymakers need to focus on those economically most vulnerable as the labor market tries to recover.

Christian E. Weller

September 2009 Article
A man fills out an application for a United Parcel Service during a job fair sponsored by the National Urban League in Louisville, Kentucky. (AP/Ed Reinke)

September 2009

Christian E. Weller argues that continued public support for investment in health care, energy, education, and innovation are necessary to bring millions of lost jobs back.

Christian E. Weller

August 2009 Article
Applicants wait in line at a job fair in New York City; it will likely take years to bring the unemployment rate down to pre-crisis levels. (AP/Mark Lennihan)

August 2009

Christian E. Weller argues that continued public support for investment in health care, energy, education, and innovation are necessary to bring back millions of lost jobs.

Christian E. Weller

July 2009 Article
Janet Francis looks at job postings at the New York State Department of Labor. Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. (AP/Mark Lennihan)

July 2009

We are learning the hard way this month that Wall Street, the economy, and the labor market are three separate things, writes Christian E. Weller.

Christian E. Weller

Taken for a Ride Report
Policymakers should encourage more diversification and less leverage in individual retirement accounts, increase the annuitization of retirement savings, and create more stable labor market options for older workers. (AP/Wilfredo Lee)

Taken for a Ride

A report by Christian E. Weller discusses risks in the retirement system and what policymakers can do to protect retirees' income.

Christian E. Weller

June 2009 Article
The sign for a subdivision of new homes shows houses sold and sales pending in Happy Valley, Oregon. The number of U.S. homebuyers buying a previously occupied home took the largest monthly jump in nearly eight years in April, but there are still plenty of danger signs for the U.S. housing market. (AP/Don Ryan)

June 2009

There are no “glimmers of hope” yet for families, writes Christian E. Weller. The economy will have to grow for an extended period before families regain economic security.

Christian E. Weller

May 2009 Article
Store closing signs are posted at a furniture store in San Jose, California. (AP/Paul Sakuma)

May 2009

It will take an extended turnaround period before families feel economically secure again and the United States begins to see positive economic growth, writes Christian E. Weller.

Christian E. Weller

The Incredible Shrinking Economy Article
The economy shrank by an annual rate of 6.1 percent in the first quarter of 2009, but there's a bright spot: Consumption expanded at an annual rate of 2.2 percent, and consumer spending could see further gains thanks to the stimulus. (AP/Reed Saxon)

The Incredible Shrinking Economy

The economy shrank 6.1 percent in the first quarter of 2009, indicating that recovery may still take some time, writes Christian Weller.

Christian E. Weller

April 2009 Article
Job seekers wait in line at a career fair in Bellevue, Washington. The unemployment rate rose to 8.5 percent in March. (AP/Ted S. Warren)

April 2009

The government has its work cut out for it when it comes to fixing the economy, writes Christian Weller.

Christian E. Weller

How to Get Trillions in Lost Wealth Back Article

How to Get Trillions in Lost Wealth Back

The fact that wealth is rapidly declining deserves public policy attention. Wealth serves critical functions in the U.S. economy that relies heavily on individual initiative. It is primarily an insurance against a range of economic risks. The more such insurance exists for the typical family, the less a family has to worry about their basic necessities and the more they can focus on longer-term economic growth. A family that has the basics covered can take more chances by sending their kids to college and letting them choose a degree that suits their abilities. Also, family members can more easily switch jobs to match their particular skills. And, a family with enough wealth is in a better position to let their creative side take hold and start a business. The entire economy wins from letting people gain more skills and apply those skills most effectively in their job or by starting a business.

Christian E. Weller

Warning: Credit Card Practices Can Be Detrimental to Your (and Their) Health Article

Warning: Credit Card Practices Can Be Detrimental to Your (and Their) Health

Here is another example from the list of “things that we saw coming, but nobody cared.” Credit card companies are suffering from record default rates. In the fourth quarter of 2008, credit card companies charged off—declared as uncollectible—a whopping 6.3 percent of their debt. Aside from a fluke spike in the data in the first quarter of 2002, this was the largest charge-off rate since the Federal Reserve began collecting these data in 1980.

Christian E. Weller

March 2009 Article
Job seekers wait in line at a job fair in San Mateo, California. (AP/Paul Sakuma)

March 2009

It’s hard to find any good news in economic news these days. The only thing that can turn the economy around now, writes Christian Weller, is the federal government.

Christian E. Weller

Rebuilding the Retirement Dream Article

Rebuilding the Retirement Dream

Ahh, retirement—so many possibilities, so little time! Turns out that for millions of Americans the dream of a secure retirement was just a dream. From 2007 to 2008, total retirement wealth in private and public sector pension plans and retirement savings plans dropped by $2.8 trillion (in 2008 dollars).

Christian E. Weller

Our House in the Middle of Our Street is No Longer Our House Article

Our House in the Middle of Our Street is No Longer Our House

Here’s a news flash: The housing market is bad. Actually, it is really bad, historically, woefully bad. And, the bad news won’t stop coming. Housing wealth is dropping precipitously, families own ever smaller shares of their own homes, and home owners are falling behind in their mortgages in record numbers.

Christian E. Weller

Gone in 1.8 Seconds Article

Gone in 1.8 Seconds

A trillion here, a trillion there and all of a sudden you are talking real money. We are getting used to the “T” word. Over the past year and half—from the middle of 2007 through the end of 2008, when the crisis unfolded—the crisis in the housing market and in the stock market has cost American families a total of $15 trillion in 2008 dollars.

Christian E. Weller

The Mirage Of Hispanic Job Growth Article

The Mirage Of Hispanic Job Growth

The recession of 2008 reveals the financial vulnerabilities Hispanic families face. Loan defaults, home foreclosures, and personal bankruptcies are rising for everyone, but are likely to be much higher for Hispanics than others. The reason: Economic distress is quickly materializing for many Hispanics due to sharply higher unemployment rates. By the end of 2008, one year after the recession began, the unemployment rate for Hispanics hit 9.2 percent, compared to 6.6 percent for whites.

February 2009 Article
Job seekers stand on line at the National Career Fair where hundreds wait to enter the building. (AP/Craig Ruttle)

February 2009

The U.S. economy is experiencing its worst recession in decades, writes Christian E. Weller, and the only sector of the economy that can turn it around is the federal government.

Christian E. Weller

The Recession Accelerates Article
Job seekers line up to attend a job fair in Chicago on January 27, 2009. The Bureau of Economic Analysis reported this morning that the economy shrank by an estimated annual rate of 3.8 percent in the fourth quarter of 2008, the largest drop since the first quarter of 1982. (AP/M. Spencer Green)

The Recession Accelerates

The latest economic data shows the U.S. economy is in serious need of quick, targeted government intervention, writes Christian E. Weller.

Christian E. Weller

January 2009 Article
People pass a jewelry store that is going out of business in New York. (AP/Mark Lennihan)

January 2009

The U.S. economy is experiencing its worst recession in decades, with jobs and wealth declining rapidly, writes Christian E. Weller.

Christian E. Weller

On Point: The Stimulus Debate Article

On Point: The Stimulus Debate

He’s been pounding the drum all week, and again this morning. Barack Obama, in what his aides bill as a major speech on the economy, is warning loud and clear that it’s bad, and that without quick action—without a huge stimulus package—could get a lot worse. Christian Weller, Grep Ip, and John Taylor discuss the shape and size and politics of Obama’s super-stimulus package.

Christian E. Weller

December 2008 Article
A shopper walks through the aisles of a relatively empty clothing store last week in New York. (AP/Mark Lennihan)

December 2008

The recession was just declared, but things are looking worse. The labor market recession is accelerating, and more Americans are feeling increased economic pain, writes Christian E. Weller.

Christian E. Weller

November 2008 Article
A jobseeker fills out an online employment application. The U.S. economy lost 240,000 jobs in October 2008. (AP/Reed Saxon)

November 2008

The economy is likely to get worse before it gets any better, writes Christian E. Weller in his monthly snapshot.

Christian E. Weller

October 2008 Article
A businessman walks his son to school past the New York Stock Exchange on Friday in New York. (AP/Mark Lennihan)

October 2008

House and stock prices are plummeting, and threatening to take the economy down with them, writes Christian E. Weller.

Christian E. Weller

How Long Is the Way Out of the Hole? Article

How Long Is the Way Out of the Hole?

The stock market just ended its worst week in history. This has sharply eroded families' financial security. Under rather optimistic expectations it would take about six years before families can hope to achieve the same level of financial security as they had at the end of 2007, before the latest round in the financial market crisis took shape.

Christian E. Weller

This Is a Financial Crisis Like Any Other—Treat it Like One Article

This Is a Financial Crisis Like Any Other—Treat it Like One

The markets are crashing. This is a standard financial crisis, as many other countries experienced over the past twenty or so years. In a crisis four risks materialize: default risk, maturity risk, interest rate risk, and exchange rate risk. We are spared from the last one since the dollar dropped well before this crisis. The problem is that we are not adequately addressing the remaining risks.

Christian E. Weller

The Credit Crisis Is Serious Article

The Credit Crisis Is Serious

Key interest rate spreads show U.S. businesses and consumers alike face serious problems if conservatives block the financial rescue package now before Congress, warns Christian E. Weller.

Christian E. Weller

How to Deal with Failing Financial Institutions Article

How to Deal with Failing Financial Institutions

Policymakers at the Federal Reserve and in the Bush administration were slow to admit they had a mortgage mess on their hands. Foreclosure rates are shattering previous records, just to be broken a few months later. The Mortgage Bankers Association reports that the share of mortgages that entered foreclosure in the second quarter of 2008 stood at 1.1 percent, and the share of all mortgages in foreclosure was 2.8 percent during the same period. Since the 1970s, the share of mortgages entering foreclosure never exceeded 0.5 percent before the end of 2006, and the share of total mortgages in foreclosure never exceeded 1.5 percent before the second half of 2007.

Christian E. Weller

September 2008 Article
Going-out-of-business signs are seen at Expo Furniture in Torrance, CA. Wholesale inflation has surged in recent months, leaving U.S. prices for the past year rising at the fastest pace in 27 years. (AP/Reed Saxon)

September 2008

The labor market recession deepens, writes Christian E. Weller, yet trade deficits and tax cuts for the rich stand in the way of effective economic solutions.

Christian E. Weller

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