My latest @WSJopinion makes a point that is obvious to most economists but sometimes missing in certain circles: judge the Fed by its impact on inflation & unemployment, not its profit and loss statements.
www.wsj.com/articles/pro...
Given the debate over the role of marriage in poverty, I believe the following are true but LMK if you disagree:
1. Marriage plays a causal role in lower poverty.
2. Assortative mating plays a causal role in inequality.
3. Causality on 1 & 2 goes both ways.
4. Not many or any policies for this.
