On Tuesday, May 6th, The New York Times published a conversation from three purported economists analyzing what the Federal Reserve should do next to address uncertainty in financial markets and the broader economy.
For weeks, the broader economy has shown signs of discontent as it adjusts to a new global trade order. At this time, clear-eyed expert analysis in the country’s preeminent media publication is imperative.
But what the New York Times actually provided its readers was the equivalent of providing a debate between Donald Trump, Joe Biden, and Jed Bartlett: two correct presidents and a guy who just plays one on TV.
The New York Times conversation featured two real economists: Jason Furman and Rebecca Patterson, and a fake one: Oren Cass.
To be clear: Cass gave himself the title “chief economist” at American Compass, the think tank he founded with the backing of millions of dollars from some of the most prominent liberal foundations in America. There, he’s gained favor with left-leaning outlets like the Times by speaking out as an “anti-Trump activist” opposed to Elon Musk’s DOGE, and even pushes to end President Trump’s tax cuts.
Yet despite his sell-appointment, Cass lacks the basic educational and professional qualifications to call himself an economist, with career highlights being a degree from Harvard Law School time advising former Massachuetts Governor Mitt Romney.
While the media has been happy to indulge Cass’s fantasy in exchange for vapid analysis passed off as expert testimony, actual economists and financial experts haven’t been so kind: