estimates of R* are too cautious. Jason Cummins, the research chief at a major hedge fund and a candidate to lead the New York Fed, points out that capital expenditure is recovering; expectations of capital expenditure are soaring; and the personal saving rate has fallen back to its pre-crisis low.
People thought they were richer, economist Jason Cummins of Brevan Howard, a hedge fund, said at the Peterson conference. Businesses have stopped growing investment. You give businesses a lower cost of capital [lower interest rates], but theyre not investing.
Jason Cummins now chief U.S. economist at Brevan Howard Inc., and formerly a senior economist at the Federal Reserve Board said most of the most of the workers who left the labor market did so for structural reasons and wont return.
"It has been a bad idea to bet against policy makers ever since the fall of Lehman," said Brevan Howard chief U.S. economist Jason Cummins. "You have to believe policy makers are working for the best intentions."
Susan Anamier, Renee Holsapple, John Diegel, Clearence Coleman, Jon Nadler, Sarah Otty, Andrew Miller, Jennifer Hollner, Valerie Mueller, Shante Edwards
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Jason Cummins
Work:
Concrete Research & Testing, LLC - Concrete Petrographer/Lab Manager (2001)
Education:
University of Massachusetts Amherst - Geosciences
Jason Cummins
Work:
Associated Network Partners, Inc. - Director of Engineering and Operations