Peter Morici

Latest News

Five Things to Know About Inflation Heating Up

Buffeted by slow growth and too few jobs, Americans now have to deal with more inflation. In May, consumer prices rose at more than a 4 percent annual pace, and inflation has been heating up the last several months. Jun 17, 2014 7:38 AM PT

A Strong Foreign Policy Requires a Strong Economy, Credible Military

In a major address at West Point, President Obama once again sought to articulate a foreign policy that places greater emphasis on diplomacy, economic leverage, and recourse to international law. Facing crises, “U.S. military action cannot be the only--or even primary--component of our leadership,” he said. All this assumes that the U.S. has a strong economy that can deliver opportunities to nations that cooperate and withhold benefits from those that do not. May 30, 2014 7:11 AM PT

The Inconvenient Truth About Climate Change and Obama's Policies

The inconvenient truth President Obama denies about climate change is that China’s refusal to cooperate in international efforts to address the problem makes U.S. efforts to slow its pace futile. Moreover, his policies severely handicap America’s ability to mitigate its consequences. May 19, 2014 9:28 AM PT

The Terrible Truth About Income Inequality

Economic inequality has emerged as the central political challenge of the 21st Century. Left wing academics and politicians are quick with quack remedies--higher taxes on the wealthy that will only send more investment abroad and smother growth. May 13, 2014 7:39 AM PT

Trade Deficit Drags on Growth, Jobs Creation

On Tuesday, the Commerce Department reported the March deficit on international trade in goods and services was $40.4 billion. Overall, the deficit is up from $25 billion since the economic recovery began in mid-2009 and poses a significant barrier to stronger economic growth. May 7, 2014 6:44 AM PT

Owning a Home Still Beats Renting

Whether to rent or buy a home is one of the toughest choices young people face these days. A recent Deutsche Bank study compared renting vs. the cost of owning a home in 54 cities. It estimated the monthly payment on an average house, factoring in property taxes, homeowners insurance and the tax break for mortgage interest deductions. May 6, 2014 10:26 AM PT

288,000 Jobs Added in April Not Enough

The economy created 288,000 jobs in April, up from 203,000 in March. That's the second-best showing of the Obama recovery, but still less than what is needed each month to raise employment to pre-recession levels. May 2, 2014 6:51 AM PT

Slow Growth Policies Pin Down Jobs Outlook

Friday, the Labor Department is expected to report the economy added 215,000 jobs in April. A moderate improvement over February and March when the pace averaged 195,000, indicating growth will improve this spring over its tepid winter performance. May 1, 2014 4:47 AM PT

GDP up Only 0.1 Percent, Bodes Poorly for Jobs Creation

The Commerce Department reported GDP grew at a disappointing 0.1 percent annual rate in the first quarter, less than 2.6 and 4.1 percent recorded the prior two periods. Overall, it appears 2014 may not be the breakout year President Obama and many Wall Street forecasters predicted, boding poorly for jobs creation. Apr 30, 2014 9:11 AM PT

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