EconoFact Chats

This week, EconoFact Chats features an abridged version of an Ask Me Anything webinar co-hosted with The Journalist's Resource on the economic consequences of the war in Iran. Panelists Binyamin Applebaum (New York Times), Nicholas Bloom (Stanford), Michael Klein (EconoFact) and David Victor (UC San Diego) discussed the energy market disruptions stemming from the war, how increased uncertainty has slowed hiring and investment, the bind facing the Federal Reserve as it confronts simultaneous supply and demand shocks, and the divergent energy policy responses emerging in the United States and Europe. Ask Me Anything Webinars are open to EconoFact Premium Subscribers. You can sign-up for a Premium Subscription at https://secure.touchnet.net/C21525_ustores/web/store_main.jsp?STOREID=157. The $50 annual fee supports EconoFact in its efforts to bring timely, accessible, unbiased, and nonpartisan analyses on important economic and social policy issues to the public.

Chris Miller, professor at The Fletcher School and author of Chip War, studies geopolitics and the global semiconductor industry. He discusses choke points and why some chips are concentrated in a few places. He explores trade-offs between offshoring and vulnerability. He outlines a four C's framework and considers friend-sourcing, reshoring limits, and the civilian-military overlap.

The price of oil has risen by over 40% since the start of the war with Iran, and shipping through the Strait of Hormuz -- which sees roughly 20 million barrels of oil transit daily -- has come to a virtual halt. Past oil price spikes have driven inflation higher, and weakened economies worldwide. What do the current disruptions portend for oil markets, and global economic growth? How might these disruptions reshape energy production in the short run and the long run? David Victor joins EconoFact Chats to discuss these questions. David is a Distinguished Professor of innovation and public policy at the School of Global Policy and Strategy at UC San Diego. He is also co-director of UCSD's Deep Decarbonization Initiative.

Much has changed since the EconoFact Chats panel of journalists last met in late 2025; the bombing of Iran and its effects on oil prices and shipping through the vital Strait of Hormuz, the Supreme Court’s decision on the illegality of tariffs enacted by IEEPA and the possibility that the government may have to repay tariff revenues, and the nomination of a new Chair for the Federal Reserve, and the arguments made before the Supreme Court on the attempted firing of Federal Reserve Governor Lisa Cook. This week, EconoFact Chats welcomes back Binyamin Appelbaum of The New York Times, Larry Edelman of The Boston Globe, Scott Horsley of NPR, and Claire Jones of The Financial Times for a wide-ranging discussion on these, and other, pressing issues.

The United States has about 2 million people behind bars at any given time -- an incarceration rate more than twice that of any other economically advanced country. There are significant costs to this -- in terms of the resources needed to run prisons and jails, the losses associated with having so many people not participating in the economy, and the price paid by individuals themselves when they are removed from society. Jennifer Doleac joins EconoFact Chats to discuss how rigorous economic research is reshaping our understanding of crime, punishment, and rehabilitation. She draws on her new book 'The Science of Second Chances: A Revolution in Criminal Justice' to highlight policies and programs that are effective in crime prevention, reducing recidivism, and helping the incarcerated re-enter society. Jennifer is Executive Vice President of Criminal Justice at Arnold Ventures, and the host of Probable Causation.

This week, EconoFact Chats features an abridged version of an Ask Me Anything Webinar held on January 16th, 2026, featuring Heather Long of the Navy Federal Credit Union (formerly at The Washington Post), and John Hilsenrath of Serpa Pinto Advisory (formerly at The Wall Street Journal). The webinar touched on a wide range of issues including the uneven economic recovery since COVID, America's transition from an economy driven by manufacturing and services, to one driven by tech and information, and the effects of tariffs on prices and American manufacturing jobs. The next EconoFact Ask Me Anything Webinar on Tuesday, February 24th, 2026, at noon Eastern Time, which is open to all, will be with John Cassidy (The New Yorker) who will answer questions on, among other topics, his new book Capitalism and Its Critics. Subsequent monthly AMA webinars, such as the one with Mark Zandi, Chief Economist of Moody’s Analytics, will be exclusively available to Premium Subscribers. You can sign-up for a Premium Subscription at https://secure.touchnet.net/C21525_ustores/web/store_main.jsp?STOREID=157. The $50 annual fee helps support EconoFact in its efforts to bring timely, accessible, and unbiased analyses on important economic and social policy issues.

Economic policy in the second Trump administration continues to undergo significant change. Many of these changes have been enacted through executive orders. What effect have these policies had on economic growth, scientific research, and on American institutions thus far? How might they impact U.S. leadership over the long-term? Simon Johnson joins EconoFact Chats to discuss these questions, drawing on a new book he co-edited, 'The Economic Consequences of the Second Trump Administration: A Preliminary Assessment.' Simon is the Ronald A. Kurtz Professor of Entrepreneurship at the MIT Sloan School of Management, where he heads the Global Economics and Management Group. He served as Chief Economist at the International Monetary Fund in 2007–2008 and was a co-recipient of the Nobel Prize in Economics in 2024.

Homeownership has been part of the traditional American dream. But increases in home prices, borrowing costs, and home insurance are making it harder for many Americans to buy a home. The cost of renting is also rising. These increases have recently been more widespread across the country. What's driving the higher cost of housing? What policies could help alleviate the challenge of housing unaffordability? Jeff Zabel joins EconoFact Chats to discuss these, and other, questions about housing in America. Jeff is a Professor of Economics at Tufts University. He is co-editor of the Journal of Housing Economics and serves on the editorial boards of Real Estate Economics and the Journal of Regional Science and Urban Economics.

In a recent article, The Economist Magazine noted that “talk about affordability mixes phantom concerns with real ones.” In this episode of EconoFact Chats, Jason Furman argues that “affordability,” which is not well defined, is not necessarily worse now than a year or two ago, or even decades ago. But he notes that there are real concerns as well -- especially with the costs of housing, childcare, and medical care. Jason discusses whether recent policies can address these concerns, and also highlights the scope for government actions to address the rising cost of living. Jason is the Aetna Professor of the Practice of Economic Policy at Harvard. He was previously the Chairman of the Council of Economic Advisers.

Nicholas Bloom, a Stanford economics professor who studies productivity and uncertainty, shares reflections from a decade after Brexit. He covers why the referendum happened, regional and demographic divides, the pound’s sudden crash, and how trade frictions, prolonged uncertainty, and distracted management eroded GDP over time.