In late October, an FDA advisory committee voted forcefully against continuing FDA approval of 17α-hydroxyprogesterone caproate (17-OHPC; Makena), a drug indicated to reduce the risk of preterm labor in pregnant women. In documents prepared by FDA scientists ahead of the committee hearing, the conclusion was that the drug “should be taken off the market.” Similarly, …
Comment this story Comment After hitting $5 a gallon in June, gasoline prices fell precipitously. The national average for regular gasoline is now around $3.30, and in 13 states the average is below $3, while the national average could be by Christmas. If your car has a 15-gallon tank, that means you’ll soon only be …
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Comment this story Comment For the most part, the jobs numbers released on Friday were excellent: stronger-than-expected job growth, near-record unemployment, hiring across most major sectors of the economy. None of these measures signal an economy in recession, despite the widespread perception among voters that we are already in one. A troubling puzzle remains, however. …
Comment this story Comment Investors have been watching Federal Reserve Chairman Jerome H. Powell’s remarks closely this week for clues about the next interest rate hike. They had a few. But if you’ve been paying attention, you may have noticed something far more significant, Powell says. Powell, one of the most powerful policy makers in …
A year ago, Bitcoin and other cryptocurrencies were selling at record highs, with a combined market value of around $3 trillion; glossy commercials featuring celebrities — the most infamous of Matt Damon’s “Fortune Favors the Brave” — filled the airwaves. Politicians, including, alas, the mayor of New York, scrambled to align themselves with what seemed …
The central economic debate in the United States right now is how aggressive the Federal Reserve should be in its efforts to reduce inflation. Few economists argue against the need for higher interest rates to reduce demand, but there are trade-offs, at least in the short term. If monetary policy is too restrictive, we may …
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