There is a long tradition in American history of business leaders as statesmen and moral leaders. They played an important role in the passage of the Marshall Plan. They have provided important support when the Supreme Court has upheld affirmative action. Business has long supported co-operation with other nations to promote prosperity. Most CEOs were strong and effective supporters of the Paris climate agreement. At the local level business leaders have fought to strengthen public schools and to resist discrimination against minorities.

With Janet Yellen’s term ending in February, President Trump will have to nominate, and the Senate confirm, a new Fed chair in coming months. There will be much discussion of the merits and implications of various candidates for the job. But it will be important for the president and senators to begin by considering the challenges the next chair will face.

"Trump's rhetoric has rejected the concept of global community and expressed a strong belief that the United States should seek better deals rather than stronger institutions and systems. It has become clear that Trump's actions will match his rhetoric. The United States is now isolated globally on the question of how to deal with the long-run security threat of climate change. It has forced the G-20 to back way off of commitments to reject protectionism. And in part because of U.S. attitudes, the G-20 was mute on international migration at a time when refugee issues are more serious than at any moment in the past 50 years."

 The main reason to privatize something usually is because a profit motive drives efficiency. That argument does not apply here.

We need to recognize as a nation that education is about more than the school day and school year.

The more that leading figures in American society can signal their continuing commitment to reason, to common purpose with other nations, and to addressing global challenges the more the damage can be contained.
 

I am handing the baton to Ash and Eric for the next lap of the race, confident that the best for the Belfer Center is yet to come.

"Apparently, the budget forecasts that U.S. economic growth will rise to 3.0 percent because of the administration’s policies — largely its tax cuts and perhaps also its regulatory policies.  Fair enough if you believe in tooth fairies and ludicrous supply-side economics."

The Fed will have little room to respond if it overdoes things and the economy goes into recession. Sometimes the hardest and most important decisions in government involve doing less rather than more. 
 

"I guessed that 10 years from now, the odds that there would be a fintech company with the kind of $250 billion market cap that some big American banks have was about 25 percent. I did not expect that in the foreseeable future fintech would have the kind of existential impact on banks that Netflix has had on Blockbuster."