In the World Happiness Report, there’s a chapter devoted to the fall in American happiness – economist Jeffrey D. Sachs suggest that there are three main variables behind it. “America’s subjective well-being is being systematically undermined by three interrelated epidemic diseases, notably obesity, substance abuse (especially opioid addiction), and depression).”
The White House said Monday that Mr. Trump would nominate Columbia University economist Richard Clarida to become Fed vice chairman. Mr. Clarida, who worked at the Treasury under President George W. Bush, has quibbled with some Fed communications in recent years but generally has backed the Fed’s policies of slowly raising interest rates from historic lows after an aggressive post-crisis campaign to stimulate growth.
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