Current Events
Benchmark interest rate decided and announced by the Federal Open Market Committee (FOMC) roughly once every 6 weeks
What is the Federal Funds Rate (FFR)?
The total amount of money the federal government owes
What is the National Debt?
The total value of all goods & services produced in a country during a given period
What is GDP?
Known as the "Father of Modern Economics," proposed the ideas of free markets and the invisible hand
Who was Adam Smith?
The primary financial hub of the United States (and globally), where Econ Club is going in Spring 2027!
Where is New York City/NYC?
European town best known for hosting the annual World Economic Forum (WEF)
Where is Davos, Switzerland?
A 1984 Yale graduate, majoring in political science. Currently the Secretary of the Treasury
Who is Scott Bessent?
An increase in the overall price level of goods & services, which reduces purchasing power
What is inflation?
German philosopher & theorist who is best known for his criticism of capitalism, laying the groundwork for socialist/communist theory
Who was Karl Marx?
A major U.S. stock market index
Country which postponed its "Davos in the Desert" conference until 2027 following security concerns surrounding recent/ongoing conflict
Where is Saudi Arabia?
Replacing Jerome Powell, the Chairman of the Federal Reserve since May 2026
Who is Kevin Warsh?
What are (positive/negative) externalities?
Frequently labeled the "Father of Modern Macroeconomics," an English economist who championed government intervention
Who was John Maynard Keynes?
Major chosen by around 2% of undergraduate students nationwide, yet disproportionately represented among CEOs and billionaires
What is Economics?
Benchmark U.S. debt security, currently hovering around a 5% yield, that strongly influences consumer rates such as mortgages and auto loans
What are 10-year Treasury notes?
A 1983 Haverford graduate, majoring in economics. Currently the Secretary of Commerce
Who is Howard Lutnick?
An economic condition characterized by simultaneous high inflation, elevated unemployment, and slow economic growth
What is stagflation?
British economist and Nobel laureate renowned for his work on transaction costs and property rights, subsequently shaping the field of law & economics
Animals used to symbolize the direction/sentiment of the financial markets at a given time
What are the bull and the bear?
Global oil benchmark Brent Crude has frequently crossed this milestone price in 2026, due to geopolitical tensions and violence
What is $100/barrel?
The largest spending category in the FY 2026 federal budget, amounting to $1.67 trillion
What is Social Security?
What is Pareto efficiency?
The joint recipients of the 2026 Nobel Prize in Economics for their work on the "microeconomic foundations of macroeconomic stabilization"
Who are Robert E. Hall (Stanford) and Michael Woodford (Columbia)?
Where is Delaware?