Chart of the Week:
Regulatory Onslaught Stopped in 2017
This week’s chart comes from the Council of Economic Advisers, the executive branch’s counterpart to JEC, which recently released the 2018 Economic Report of the President. The chart shows that publication of final rules (new regulations) plunged in 2017. Importantly, the reduction of new rules with a cost of $100 million or more per year (“economically significant rules”) was the largest percentage reduction since 2007. This regulatory relief is helping the U.S. economy recover its lost potential.
Note: JEC has two primers on the rulemaking process and the role of Congress in regulation, and published a commentary on the improved regulatory climate last November.
Last Week
News & Commentary Weekly Highlights
Financial Times: US ‘too big to fail’ regime set for Trump overhaul
Wall Street Journal: How to Punish American Workers
Economics21: Fed Should Stop Paying Interest on Reserves
MarketWatch: Good news — the Fed’s shift to quantitative tightening might not be as painful as expected
Council of Economic Advisers Release
2018 Economic Report of the President
Top Economic Indicator Highlights
No major releases last week.
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