KeithHennessey.com

Yesterday Senate Minority Leader Mitch McConnell (R-KY) appointed me to be a member of a new Financial Crisis Inquiry Commission.

I began this blog at the end of March after the stimulus bill had become law.  I had been struck by how much the stimulus debate had focused on whether the bill was efficient.  (It clearly was not.)  There was much less discussion of whether the stimulus would be effective, and of the timing of [...]

Welcome to my new blog.  If you would like to learn more about American economic policy, I would be honored to be your guide.  I will do my best to explain the options faced by senior American economic policymakers, and to analyze the choices they make.
I anticipate defining “economic policy” broadly as we did at [...]

President Bush gave a major policy address on the State Floor of the White House this evening.
THE WHITE HOUSE
State Floor
9:01 P.M. EDT
THE PRESIDENT:  Good evening.  This is an extraordinary period for America’s economy.  Over the past few weeks, many Americans have felt anxiety about their finances and their future.  I understand their worry and their [...]

Here’s what President Bush said at 10:45 AM today in the Rose Garden.
This is really important.
Good morning.  I thank Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and SEC Chairman Chris Cox for joining me today.
This is a pivotal moment for America’s economy.  Problems that originated in the credit markets — and first showed [...]

The President will speak at 10:45 AM.  I’ll send his remarks soon after he has spoken.  Here’s what Secretary Paulson said shortly after 10 AM this morning.
Last night, Federal Reserve Chairman Ben Bernanke, SEC Chairman Chris Cox and I had a lengthy and productive working session with Congressional leaders.  We began a substantive discussion on [...]

Last Friday the President spoke about the need for additional Congressional action on the economy.  Outsiders are referring to this as “fiscal stimulus”.  We’ve been calling it a “growth package”.
There’s a lot to say, so I’m going to break this up into three big parts.

what the President proposed;
why the President proposed it; and
today’s [...]