In the News 2022

Promote significant reforms going forward in order to elevate growth: Raghuram Rajan
December 31, 2022 | The Economic Times
“Well the Chinese economy will probably recover towards the second half of next year simply because the shocks it has been subject to have been pretty significant this year,” explains Raghuram Rajan of Chicago Booth.

Your 401(k) isn’t enough: To invest for retirement, build friendships and hobbies
December 29, 2022 | The Wall Street Journal
People exaggerate the risks of reaching out to old friends, including awkwardness and rejection, and underestimate the pleasures, according to research by Chicago Booth’s Nicholas Epley.

It's a very tough time to be a central banker,' says Douglas Diamond, Nobel Laureate in Economics for 2022
December 28, 2022 | Business Today
Chicago Booth’s 2022 Nobel Laureate Douglas W. Diamond holds forth on managing inflation, setting monetary policy, the current global economic situation, and how it will affect India.

Ignorance 'at heart of' BNPL explosion, warns loan provider, amid fears cost-splitting deals will becoming the UK's next 'credit trap' scandal
December 27, 2022 | The Daily Mail
Ayelet Fishbach of Chicago Booth indicates that BNPL fundamentally takes advantage of a human’s hardwired impatience and consumers need to be aware of how they can be exploited by these products.

India needs to remain defensive in monetary, fiscal response to global tightening: Douglas W Diamond
December 26, 2022 | Fortune India
“Inflation in India is in reasonably good shape right now, compared to the rest of the world,” says Chicago Booth’s 2022 Nobel Laureate Douglas W. Diamond.

Big investors warm to bonds after historic 2022 sell-off boosts yields
December 23, 2022 | Financial Times
A survey of leading economic experts, conducted by Chicago Booth's Initiative on Global Markets in partnership with the Financial Times, showed that 85 percent of respondents expected the US to enter into a recession next year.

UK names ex-Fed official Kroszner to BoE's Financial Policy Committee
December 21, 2022 | Reuters
Randall Kroszner of Chicago Booth will join the Bank of England's Financial Policy Committee (FPC) as a part-time external member for three years starting in February 2023.

The art and science (but mostly art) of cashing out
December 19, 2022 | Crain's Chicago Business
“Selling a company slightly before it is “fully ripe” is a common fear, but bear in mind that all ripe fruit is soon spoiled,” wrote Chicago Booth's Karl Muth in a recent op-ed.

Thursday is the new Monday as hybrid-work patterns shift
December 15, 2022 | Bloomberg
Among employees who are able to work from home, nearly half have settled into some sort of hybrid routine, according to research by Chicago Booth’s Steven Davis and others.

CME’s last open-outcry pit makes leap to post-Libor world
December 13, 2022 | Bloomberg
“If somebody wants to do a very large option spread trade in out-of-the-money options—not the most liquid structure out there—that’s more suitable to a voice broker,” said Chicago Booth’s Terrence Belton. “It’s not something you do without extra layers of risk management.”

Shareholder democracy doesn’t work. Here’s how it can.
December 8, 2022 | The Washington Post
“The ambitious idea that companies can be run like democracies, with widely dispersed shareholders exerting influence over management, has long failed in practice,” writes Booth’s Luigi Zingales and coauthor.

Bond market points to Fed standing firm in battle against inflation
December 7, 2022 | Financial Times
In a recent survey of leading economists, conducted by Chicago Booth’s Initiative on Global Markets in partnership with the Financial Times, 85 percent of economists said they expect the National Bureau of Economic Research will declare a recession in the U.S. by next year.

US unemployment rate set to surpass 5.5%, economists predict
December 6, 2022 | Financial Times
A recent survey, conducted by Booth’s Initiative on Global Markets in partnership with the Financial Times, suggests waning optimism that the central bank can tame price pressures without causing material job losses.

People are ‘long social distancing’ due to COVID-19. Economists say that’s contributing to a drop in labor-force participation.
December 6, 2022 | Marketwatch
More than 10 percent of US workers say they will continue social distancing after the COVID-19 pandemic ends, and another 45 percent will do so in limited ways, according to research by Booth’s Steven Davis and coauthors.

Nobel Prize portrait: Economic sciences
December 4, 2022 | SVT (Swedish Public Television)
Chicago Booth’s 2022 Nobel Prize laureate Douglas W. Diamond talks about his winning research, along with his love for music, his most famous publication, and more. (Segment begins 18:25.)

Fed will raise rates until labor market cracks: Kroszner
December 2, 2022 | Bloomberg Surveillance
Randall Kroszner of Chicago Booth says the Fed’s hope of an “immaculate disinflation” is unlikely.

The cost of zero Covid: Protests highlight economic toll of China's restrictions
December 1, 2022 | France 24: People & Profit
“There is no question that this has been an unmitigated economic disaster. The growth is down to levels that we haven't seen in decades,” says Chicago Booth’s Chang-Tai Hsieh.

Global economy must start bracing for low inflation, Rajan Says
December 1, 2022 | Bloomberg
The global economy could go back to a low inflation regime and central bankers pursuing restrictive monetary policies should keep that in mind, says Raghuram G. Rajan of Chicago Booth.

Why a housing bust will not generate a severe recession
December 1, 2022 | Forbes
The leverage measured by the ratio of U.S. household debt to income was a powerful predictor of the severity of the 2007–09 recession, according to research by Chicago Booth’s Amir Sufi and coauthor.

In conversation with Nobel laureate Douglas W Diamond: BQ conversations
November 30, 2022 | BQ (Bloomberg Quint) Prime
Booth’s 2022 Nobel Prize laureate Douglas W. Diamond speaks about the role of banks in an economic crisis and what makes them vulnerable to the rumors of a collapse.

For now, Musk’s Twitter circus looks like the worst show on Earth
November 30, 2022 | The Boston Globe
“One of the reasons he’s so successful is that he moves like a hurricane. He’s fast, persistent, and willing to experiment,” says Booth’s Steven Kaplan, reflecting on Elon Musk’s plan to remake Twitter.

At some point the labor market will crack, says former Fed Governor Randy Kroszner
November 30, 2022 | CNBC: Power Lunch
Randall Kroszner of Chicago Booth discusses whether the decline in job openings will lead to a steep rise in the unemployment rate, how long the federal funds rate will remain at five percent, and more.

In low income parts of the UK, boosting productivity is a question of competition
November 30, 2022 | City A.M.
Even in very narrowly defined industries, productivity across individual firms vary greatly, according to findings by Chicago Booth’s Chad Syverson.

Once arcane job openings survey becomes darling of Fed's eye
November 29, 2022 | Reuters
Job openings recorded by businesses don't reflect how intensively a company is trying to fill its available jobs, says Chicago Booth’s Steven Davis of a new dataset.

Why the global economy is slowing
November 29, 2022 | VOX
If European consumers are spending more of their budgets on things like food and gas, they have less money to spend on other goods and services, explains Raghuram Rajan of Chicago Booth.

When the ground beneath you shifts, learn to wobble well
November 28, 2022 | Crain's Chicago Business
“The whole concept of “wobbling well” means that you walk with the rhythm of the wobble, no matter how unpredictable it might appear,” writes Mia Saini Duchnowski, an entrepreneur-in-residence at Booth’s Polsky Center for Entrepreneurship, in a recent op-ed.

Rupee should stabilise once US reduces speed of its rate increases: Economics Nobel winner
November 27, 2022 | Press Trust of India
Chicago Booth’s 2022 Nobel Prize winner Douglas W. Diamond says it is difficult to predict exchange rates, but the rupee should stabilize once the US “reduces the speed of its rate increases.”

Tech giants are axing their experimental projects. That could cost them in the end.
November 23, 2022 | Yahoo! Finance
“The term moonshot has a connotation of being something that is both highly improbable and something that is potentially awe inspiring,” says Christopher E. Krohn of Chicago Booth.

Love and connection: The transforming power of a thank-you note
November 22, 2022 | The Christian Science Monitor
Senders of gratitude letters tend to significantly underestimate how positive they would make their recipients feel, while at the same time significantly overestimate how uncomfortable they would feel, according to research by Booth's Nicholas Epley and coauthor.

Bob Iger's success in second turn at Disney is far from guaranteed
November 21, 2022 | Axios
“[Iger] probably didn’t want to see his legacy go the way it was going,” says Booth's Amy Hilliard, reflecting on Bob Iger’s return to lead Disney.

The U.S. needs more housing than almost anyone can imagine
November 21, 2022 | The Atlantic
If just New York, San Jose, and San Francisco had the permitting standards of Atlanta or Chicago over the previous several decades, the American households would have earned an average of $3,685 more a year, according to Booth's Chang-Tai Hsieh and coauthor.

University of Chicago, Denison, and UC-San Diego each receive gifts of $20 million or more
November 20, 2022 | Forbes
An anonymous $24 million gift to support veterans in the new Accelerated Booth Scholars Program will provide qualified cohorts of student veterans opportunities to earn accelerated joint AB/MBA degree beginning in spring 2023.

UK regulators call for action on hidden leverage threat to pension funds
November 20, 2022 | Financial Times
“Imposing stricter reporting requirements on non-banks would be helpful as that would allow data on leverage to be aggregated,” says Chicago Booth's Anil Kashyap.

Deglobalization is a climate threat
November 18, 2022 | Project Syndicate
“Effective, coordinated responses to climate change are being set back by the shrinkage of cross-border trade and investment flows,” wrote Booth's Raghuram Rajan in a recent op-ed.

Taylor Swift’s Ticketmaster meltdown: What happened? Who’s to blame?
November 18, 2022 | The Washington Post
It’s possible that Ticketmaster used a dynamic pricing system, which calculates the prices of tickets based on the level of demand, indicates Eric Budish of Chicago Booth.

What is ‘Friendshoring’?
November 18, 2022 | The New York Times
“Friendshoring is an understandable policy if it is strictly limited to specific items directly affecting national security,” says Chicago Booth’s Raghuram Rajan. “Unfortunately, the term’s public reception already suggests that it will be used to cover much else.”

Will taxing the windfall profits of oil giants fix countries’ economies?
November 18, 2022 | The New York Times
In a survey conducted by Booth’s Initiative on Global Markets of more than 30 European economists, half agreed that a windfall tax on excessive oil and gas profits should be used to help households afford high energy costs.

Low-skilled immigration Is needed to overcome the Western worker crunch
November 16, 2022 | Forbes
Lower-paid workers typically spend far more of their income than better-paid workers, and therefore recessions are typically far less severe when lower-skilled workers are supported, according to research by Chicago Booth’s Christina Patterson.

Elon Musk has got it all wrong says business school professor
November 14, 2022 | Business Leader
“Removing the option to work from home and forcing workers back to the office will no doubt undermine intrinsic employee motivation and happiness,” says Chicago Booth’s Ayelet Fishbach.

Chicago trading firms will feel shock waves from FTX bankruptcy
November 14, 2022 | Crain's Chicago Business
“The risk in events like this collapse (of FTX) is it causes an erosion in trust in crypto, which is inherently fragile,” says Eric Budish of Chicago Booth.

Sick profits: Private equity’s stealthy takeover of health care in multiple cities, specialties
November 14, 2022 | USA Today
Thomas Wollmann, a professor of economics at Chicago Booth, said antitrust authorities may not learn of consequential transactions “until long after they have been completed” and “it's very hard to break them up after the fact.”

Five experts react to October’s lighter-than-expected inflation report
November 10, 2022 | CNBC: Squawk Box
Booth’s Austan Goolsbee shares his insights into the market's reaction to October's inflation report.

9 digital marketing tricks that nudge you toward overspending
November 10, 2022 | Big Think
Booth's Abigail Sussman provides insights into the psychology behind overspending.

MBA hiring remains red-hot: This No. 2 B-school sees grads land $200K-plus pay packages
November 7, 2022 | Fortune
Booth’s MBA class of 2022 graduated into a hot job market, says Stephanie O’Connor, associate dean of career services.

2022 MBA Jobs: Finance Powers 10% Pay Bump At Chicago Booth
November 7, 2022 | Poets & Quants
"Booth’s Class of 2022 experienced an excellent job market and increases in compensation packages," says O’Connor.

Does your company pay the same salary for the same job in different locations across the country? This research provides insight.
November 7, 2022 | Marketwatch
Up to half of companies have pay parity across jobs within their firm, according to research by Chicago Booth’s Christina Patterson and coauthors.

How this company is encouraging employees to create in-office FOMO to entice their colleagues back
November 7, 2022 | Worklife
“While creating FOMO may force workers back to the office, it undermines intrinsic employee motivation and happiness,” said Chicago Booth’s Ayelet Fishbach. “Inciting a negative feeling of FOMO to motivate workers is misguided.”

By taking Twitter private, Musk makes daring bet
November 5, 2022 | AFP News
“That debt is tricky when you’re losing money. So there’ll be a lot of pressure to cut costs and increase revenue so that they can make debt payments,” said Chicago Booth’s Steven Kaplan of Elon Musk’s decision to pull Twitter off the stock market.

US jobs data gives mixed signals
November 4, 2022 | Bloomberg Surveillance Podcast
Chicago Booth’s Randall Kroszner weighs in on inflation, interest rates, and the labor market. (Segment begins 14:58.)

Al Gore, Maersk sink $80M into local logistics-tech player
November 3, 2022 | Crain’s Chicago Business
“Companies that are growing, performing and, ideally, that have a path to profitability are fundable,” says Chicago Booth’s Steve Kaplan, who researches private equity and venture capital.

Social media as we know it is over
November 2, 2022 | Yahoo! Finance
“There are many more specialized platforms that are becoming available,” said Chicago Booth’s Pradeep Chintagunta. “For an individual it becomes how many platforms do I want to be on?”

The peak Fed funds rate could be over five and get to six, says fmr. Fed Governor Randy Kroszner
November 1, 2022 | CNBC: Squawk on the Street
Randall Kroszner of Chicago booth discusses the higher than expected JOLTS data, what it means to the Fed, and more.

From food to gas, prices are high. Who's to blame?
October 31, 2022 | The Washington Post
Chicago Booth's Austan Goolsbee comments on high prices and the role of policy makers.
(Interview starts 1:57.)  

Balance of power: When will the Fed slow rate hikes?
October 31, 2022 | Bloomberg Balance of Power
Austan Goolsbee of Chicago Booth discusses the economy and Fed policy.

Four experts break down strong third-quarter U.S. GDP data
October 27, 2022 | CNBC: Squawk Box
Austan Goolsbee of Chicago Booth reacts to the latest third-quarter GDP data.

Why talking to strangers can make us happier
October 27, 2022 | BBC
Humans may be social animals but may not always be social enough for their own well-being, according to Chicago Booth's Nicholas Epley and coauthor.

Fear of catching Covid has cost US economy $250 billion this year
October 25, 2022 | Bloomberg
Long social distancing is more common among those who are older, female, earn less, and don’t have as much formal education, according to research by Chicago Booth's Steven J. Davis and coauthors.

An activist short seller gets his day in court
October 22, 2022 | The New York Times
“In a free society, one of the most valuable sources of news is negative news. Everyone’s happy to give you good news,” said Chicago Booth's Luigi Zingales. “We need more incentives in society to report that bad news.”

Earnings calls are boring by design
October 21, 2022 | Marketplace
“If you see the extreme positivity on the call maybe you should question how genuine this positivity is,” indicates Anastasia A. Zakolyukina of Chicago Booth.

The smart way to learn from failure
October 21, 2022 | BBC Worklife
The satisfaction of helping another person provides a personal ego boost, so that people feel more confident to confront their own failures, according to research by Chicago Booth's Ayelet Fishbach and coauthor.

How do consumer products companies decide how much they’ll raise their prices?
October 20, 2022 | Marketplace
“You tend to just look at the face value of the good, without doing the calculations, so saying ‘OK, am I paying $5 per ounce? Or $6 per ounce?'” said Chicago Booth's Nicole DeHoratius. That’s called shrinkflation. DeHoratius said it’s a hidden way to change prices without causing as much sticker shock.

Introspection could be the cure for deep-rooted dissatisfaction at work
October 20, 2022 | People Management
Employers must act to curb frequent job changers and improve engagement, argues Chicago Booth's Ayelet Fishbach in a recent op-ed.

US housing starts decline   
October 19, 2022 | Bloomberg: Balance of Power
Randall Kroszner of Chicago Booth discusses the national and global implications of the increasing rates of central banks and the stress it puts on the system.
(Interview starts 2:29.)

The ‘productivity paranoia’ managers can’t shake
October 18, 2022 | BBC
“Time is the most common metric of productivity because it’s simple to measure,” explains Booth's Ayelet Fishbach. “It’s easier to track a worker’s time in the office than their quality of ideas.”

India has a productivity problem. Just look at Revenue Per Employee data
October 18, 2022 | The Print
“The productivity funk is at odds with what we read, hear, and see,” writes Chicago Booth's Ram Shivakumar in a recent op-ed.

China’s Q3 GDP delay: The rule of data is that nobody hides good news, says professor
October 18, 2022 | CNBC: Squawk Box Asia
Austan Goolsbee of Chicago Booth says given the negative economic impact of China’s zero-Covid policy, the country’s third quarter GDP data probably showed “something that they didn’t want to be released.”

The newest Nobel-winning economist lays out 2 reasons the US is 'really exposed' to a financial crisis
October 16, 2022 | Business Insider
“It takes at least somewhat unexpected events to cause a financial crisis,” explains Booth's 2022 Nobel laureate Douglas Diamond. “The 'fear of fear itself' or self-fulfilling prophecy kind of run.”

A recession is ‘absolutely a real possibility,’ economist says
October 14, 2022 | Yahoo! Finance Live
Austan Goolsbee of Chicago Booth discusses the September CPI report, the state of the economy, consumer spending, the rising probability of a recession, and the outlook for the Fed.

Despite economic turmoil, consumers keep on spending
October 14, 2022 | Marketplace Morning Report
Chicago Booth's Ayelet Fishbach said after nearly three years of economic tumult, consumers aren’t sure what to do about the future. “Should I sell or should I buy? Should I wait or should I consume?” she says. 

Helping the less well off means recessions are shallower
October 13, 2022 | Forbes
“I find that the unequal incidence of aggregate fluctuations in the labor market increases the aggregate marginal propensity to consume,” explains Christina Patterson of Chicago Booth.

Holiday bargains will dent retail profits. How investors can avoid taking a beating
October 12, 2022 | CNBC.com
“We say that forecasts are always going to be wrong and that the winners are going to be those that have designed and built an agile supply chain,” says Chicago Booth's Nicole DeHoratius.

A timely lesson on the causes and consequences of financial crises
October 12, 2022 | The Economist: Money Talks Podcast
Booth's 2022 Nobel laureate Douglas Diamond talks about his eponymous model of financial panics and whether policymakers have truly absorbed their insights.

‘Wicked sense of humour': Raghuram Rajan gives a feel of Nobel Prize winner Douglas Diamond's personality
October 11, 2022 | Business Today
“The Nobel Prize is, of course, richly deserved because of the intellectual and practical influence his work has had. It also could not have gone to a better person,” said Booth's Raghuram Rajan, commenting on Douglas Diamond's Nobel award.

Central banks were slow to act as inflation was rising: Kroszner
October 11, 2022 | Channel News Asia
Randall Kroszner of Chicago Booth explains how rising interest rates and central bank policies could play out in the coming year.

University of Chicago professor wins 2022 Nobel economics prize alongside former Federal Reserve chair
October 10, 2022 | Chicago Tribune
“I was sound asleep, so my main reaction was trying to figure out where my phone was,” said Booth's Douglas Diamond when asked about his first reaction to winning. “So I heard this Swedish voice on there saying, ‘Are you professor Doug Diamond?’... I said, ‘Yes.’”

A 2022 Nobel laureate in economics says rapid interest-rate hikes pose a threat to the financial system
October 10, 2022 | Marketwatch
"I think many people are surprised how rapidly the nominal interest rates have gone up around the world. That can be something that sets off some fears in the system," says Booth's 2022 Nobel laureate Douglas Diamond.

Univ. of Chicago lauds Economics Nobel winner
October 10, 2022 | USA Today
Douglas Diamond, the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, shared the Nobel Prize in economic sciences with two other American economists.

China's shot at overtaking the US economy is at stake in Xi's next term
October 10, 2022 | Bloomberg
“The key unknown is whether the party’s efforts to support its favored parts of the private sector can spur enough growth to outweigh the negative effects of its crackdown on other, less favored areas,” says Booth's Chang-Tai Hsieh.

Where has all the liquidity gone?
October 7, 2022 | Project Syndicate
“While central banks have always had a duty to provide emergency liquidity, doing so on a sustained, large-scale basis is an entirely different kettle of fish,” wrote Booth's Raghuram Rajan and coauthor in a recent op-ed.

Jobs report keeps Fed on track for 75 BPS hike: Kroszner
October 7, 2022 | Bloomberg Surveillance
Booth's professor of economics Randall Kroszner discusses how the September employment report impacts Fed monetary policy.

Global fallout from rate moves won’t stop the Fed
October 7, 2022 | The New York Times
“The basic problem is that the world of monetary policy dances to the Fed’s tune,” said Booth's Raghuram Rajan. “This is a problem with no easy solutions.”

Got a bucket list? Then don't hang around! People are less likely to try new experiences as they approach old age, research shows
October 6, 2022 | The Daily Mail
The less time people believed they had left to live, the more likely they were to return to favorite experiences, according to research by Booth's professor Ed O'Brien and PhD student Yuji K. Winet.

Goolsbee on inflation, dollar gains
October 4, 2022 | Bloomberg: Balance of Power
Austan Goolsbee of Chicago Booth discusses UK market turmoil and Fed challenges.

How retailers are trying to beat forecasts of a slower holiday season
October 3, 2022 | Marketplace
Chicago Booth’s Nicole DeHoratius suggests a long holiday shopping season is better for logistics. “It’s easier to staff for those types of events. It’s easier to plan for sort of a smooth cycle,” she said.

Many Americans find themselves in a Catch-22 as inflation keeps prices, interest rates high
September 30, 2022 | USA Today
“You're immediately hurt by higher interest rates while the effect on inflation may take some time,” said Chicago Booth's Michael Weber. “Low and moderate-income Americans are indeed hit quite hard.”

The U.K. is a warning sign as market stresses rise
September 29, 2022 | Barron's
The U.K. is now at the center of the stage as its monetary and fiscal policies pull in opposite directions, indicates Raghuram Rajan of Chicago Booth.

We tend to underestimate our future expenses – here’s one way to prevent that
September 28, 2022 | The Conversation
“If consumers could better anticipate how much money they will spend in the future, it might help motivate them to spend less and save more in the present,” wrote Booth's Abigail Sussman and coauthors.

Around Town checks out Chicago Booth’s Mindworks: The Science of Thinking
September 26, 2022 | WGN Morning New
Jasmine Kwong of Booth's Mindworks talks about the lab and how it helps advance our collective understanding of the inner workings of human behavior.

It’s really important for the U.S. Fed to move fast, says professor
September 26, 2022 | CNBC: Squawk Box
Chicago Booth's Randall Kroszner says the U.S. Federal Reserve is “very fortunate” that the unemployment rate remains below four percent.

There’s a decently high chance of a hard landing from the Fed, says Austan Goolsbee
September 23, 2022 | CNBC: Squawk Box
Chicago Booth's Austan Goolsbee discusses what’s causing a downturn in the markets.

Swimply is like Airbnb for renting strangers’ backyard swimming pools. We tried it. Was it weird?
September 22, 2022 | Chicago Tribune
“My sense is that the personal and public boundaries we once held on to for a long time have been steadily falling ever since we collectively decided we were willing to be captive in someone else’s moving vehicle,” said Booth's Pradeep K. Chintagunta.

Federal Reserve rates seen at 4.5%-5% range in much of 2023: Kroszner
September 21, 2022 | Bloomberg Daybreak: Australia
Randall Kroszner of Chicago Booth discusses the central bank's policy.

A global backlash is brewing against the Fed
September 21, 2022 | Financial Times
Chicago Booth's Raghuram Rajan weighs in on the global repercussions of the Fed’s actions.

Tips shrink at Chicago restaurants and bars amid inflation
September 21, 2022 | Crain's Chicago Business
Typically, people have a budget for how much they plan to spend on a meal at a restaurant, says Chicago Booth's Abigail Sussman. If the total comes in below their set number, they’ll likely tip more generously. If not, they could skimp on the tip.

Borrowing costs, mortgage rates expected to rise with Fed rates
September 20, 2022 | CNBC: The Exchange    
Randall Kroszner of Chicago Booth discusses expectations for rate forecasts and the implications of rate hikes on borrowing costs and mortgages.

Choosing between for-profit and nonprofit
September 19, 2022 | Crain's Chicago Business
“Social entrepreneurs should understand the administrative and financial complications of running a nonprofit and seeking tax exemption before deciding on the best path forward,” wrote executive director of Booth's Polsky Exchange Abigail Ingram in a recent op-ed.

Inflation remains voters’ top concern. Can Republicans keep their focus?
September 19, 2022 | The New York Times
Wage increases, though stronger than they have been in years, have not kept pace with inflation this year; but in 2021, when voters’ anger showed up most clearly in polling, average family incomes “far exceeded” price gains, indicated Booth's Austan Goolsbee.

Dollar's rise spells trouble for global economies
September 18, 2022 | The Wall Street Journal
“We’re going to be in a high-rates regime for some time. The fragilities will build up,” said Booth's Raghuram Rajan of the impact of a strong dollar on the rest of the world.

Federal Reserve to keep interest rates above 4 percent beyond 2023, economists predict
September 17, 2022 | Financial Times
The Federal Reserve is a long way from ending its campaign to tighten monetary policy, according to a survey by Booth's Initiative on Global Markets in partnership with the Financial Times.

Go ahead, ask for help. People are happy to give it.
September 15, 2022 | The New York Times
We tend to underestimate the power of engaging in simple gestures of kindness, like buying someone a cup of coffee, according to research by Chicago Booth's Nicholas Epley.

Professor Constantine Yannelis on inflation
September 13, 2022 | NBC News Now: Top Story with Tom Llamas
Constantine Yannelis of Chicago Booth shares his insights on inflation, interest rates, and more.

Biden’s midterm self-edit: Less talk about inflation woes
September 12, 2022 | Associated Press
“The most public price — gasoline — has been falling significantly,” said Booth's Austan Goolsbee. “In that kind of environment, other concerns tend to move up on people’s lists. That could certainly change if the inflation numbers start getting worse.”

Nobel laureate in economics says Bitcoin’s true value is zero, gold is a ‘terrible’ inflation hedge – Eugene Fama
September 9, 2022 | Kitco
Chicago Booth's Eugene F. Fama weighs in on inflation and the US dollar, efficient markets, and more.

The U.S. is still in for a wild economic ride despite easing inflation
September 8, 2022 | HuffPost
“If inflation comes down steadily and inflation expectations remain well anchored, then the Fed may not have to raise rates so high as to push the economy into recession,” explains Booth's Randall Kroszner.

Woman cheered for dumping boyfriend over ‘weird and embarrassing’ comment
September 8, 2022 | Newsweek
Booth’s Nicholas Epley suggests that giving possessions like cars a name and personality can be seen as a sign of intelligence. “It is a reflection of our brain’s greatest ability,” he said.

Retailers struggle under load of unsold inventory
September 7, 2022 | Marketplace
“Every retailer that I have talked to—it’s still very unclear what the consumers are doing, and that the behavior is more erratic than they’ve seen previously,” said Booth’s Nicole DeHoratius.

Expert thoughts on Chase Freedom Unlimited
September 6, 2022 | Wallet Hub
“One major takeaway from all of the behavioral science research on nudges is that human systems work best when they’re simple,” said Booth’s Thomas Talhelm. “Any time you layer in a level of complexity, people will start to drop out.”

BlackRock pushes back against directors serving on too many tech boards
September 5, 2022 | Financial Times
Booth’s Luigi Zingales said BlackRock had positioned itself as “changing the world for the better,” whereas Vanguard “has always sold itself as the low-cost guy.”

U.S. employers add 315,000 jobs as more workers join labor force
September 2, 2022 | Bloomberg
“This is really what the Fed is hoping for,” said Booth’s Randall Kroszner, a former governor of the Federal Reserve. “More people are coming back into the labor market. That helps to reduce the tightness of that market.”

Central banks needed the public to see high inflation before acting strongly: Raghuram Rajan
September 2, 2022 | BNN Bloomberg
Booth’s Raghuram Rajan says it would have taken a very gutsy U.S. Fed to raise interest rates early, given how much money had been spent on post-pandemic recovery.

Traders pare Fed-hike bets after jobs, treasury curve steepens
September 2, 2022 | Bloomberg
“It has made markets somewhat happy as they were worried it could have been a blowout report here,” Booth’s Randall Kroszner says of the recent Labor Department report.

India’s high-stakes bid to join the global semiconductor race
September 1, 2022 | Financial Times
“It’s an attempt to follow the China path and create manufacturing in India,” says Booth’s Raghuram Rajan of the country’s bid to begin making semiconductors.

Jurors more likely to convict when given deciding vote
August 29, 2022 | Law360
“What we find is that there's a lot of social pressure that comes with being a pivotal voter,” said Yuji Winet, a researcher at Chicago Booth. “And this means that a lot more of these cases end with convictions than you would expect.”

Fed likely to raise to '4% or so area,' former governor Kroszner says
August 28, 2022 | Bloomberg Daybreak: Australia
Booth's professor of economics Randall Kroszner discusses the central bank's policy.

How US student loan debt has weighed down a generation of borrowers
August 27, 2022 | Financial Times
“The announced forgiveness plans will primarily benefit upper and middle class earners,” said Booth's Constantine Yannelis. “The fact that there is an income cap prevents dollars going to those earning very high amounts today, but many college graduates will earn significant amounts over their lives.”

Meet the MBA class of 2024: Zach Bidner, University of Chicago (Booth)
August 26, 2022 | Poets & Quants
“Aside from the people, there are two main reasons why I chose Booth,” shares Booth's MBA candidate Zach Bidner. “The first was Booth’s ETA (Entrepreneurship Through Acquisition) program offered through the Polsky Center. The second was the flexible curriculum.”

The markets are still not buying Fed policies, says University of Chicago professor Randy Kroszner
August 26, 2022 | CNBC: Squawk on the Street
Randall Kroszner of Chicago Booth discusses Fed Chair Powell’s Jackson Hole presser.

Stop berating central banks and let them tackle inflation
August 26, 2022 | Financial Times
“More focused and less interventionist central banks would probably deliver better outcomes than the high-inflation, high-leverage, low-growth world we now find ourselves in,” writes Booth’s Raghuram Rajan in a recent op-ed.

Focus on inflation to make central banks’ job easier, Rajan Says
August 26, 2022 | Bloomberg Markets
Global central banks would do a better job of checking inflation by focusing on their core mandate, rather than trying to achieve multiple goals through monetary policy, according to Booth's professor of finance Raghuram Rajan.

Nobel Prize-winning economist says he doesn’t see anything that resembles a recession in the U.S.
August 25, 2022 | CNBC
“I don’t see anything that resembles a recession,” said Booth’s Richard Thaler. “We have record low unemployment, record high vacancies. That looks like a strong economy.”

University of Chicago professor weighs in on the effects of student loan forgiveness
August 25, 2022 | CBS 2 Chicago
“It's going to be paid for in the future through one of two things, either tax increases or less government spending on things we care about like early childhood education or health care,” explains Booth’s Constantine Yannelis.

Biden’s student loan plan squarely targets the middle class
August 25, 2022 | The New York Times
“You’ll have a lot more people who are making zero payments and will have significant loan forgiveness in the future,” said Constantine Yannelis of Chicago Booth. “The relief to borrowers is going to be more targeted to the people who really need it.”

Why your social life is not what it should be
August 25, 2022 | The New York Times
One of the reasons people are reluctant to talk to strangers on a train or plane is they don’t think it will be enjoyable. They believe it will be awkward, dull, and tiring, according to Booth’s professor of behavior science Nicholas Epley.

What Wall Street hopes to hear from the Federal Reserve at Jackson Hole
August 24, 2022 | CNN Business
Booth's Randall Kroszner said the Federal Reserve hopes that by raising interest rates quickly it won't have to raise them too high. “If that's the case, they may be able to avoid a significant slowdown, but that's by no means guaranteed,” he indicated.
  
Biden cancels up to $20,000 in student loan debt for millions of Americans, extends payment pause
August 24, 2022 | CBS Evening News
Booth's Constantine Yannelis weighs in on Biden's student loan forgiveness plan.
(Interview starts 02:31.)

Illinois will feel the weight of Biden's student loan move more than most states
August 23, 2022 | Crain's Chicago Business
“Illinois, like New York, is an area which is dominated by one metro area where you disproportionately see a lot of young, educated people living,” says Booth's Constantine Yannelis. “This is why you have high student loan debt.”

The remote work revolution is already reshaping America
August 19, 2022 | The Washington Post
Remote work has ebbed significantly since the height of pandemic shutdowns in 2020, when almost two-thirds of work was done remotely. But it has since stabilized at an extraordinarily high level, according to research by Booth’s Steven Davis and others.

Here's what the Big Ten's $7.7 billion media rights deal could buy
August 19, 2022 | Crain's Chicago Business
“It’s pretty reasonable to predict that this media rights deal is going to lead to the schools investing in fancier and fancier athletic facilities that don’t just benefit football and basketball players,” says Booth’s Matt Notowidigdo.

Kroszner: Fed not backing off
August 18, 2022 | Bloomberg Markets: Balance of Power
Booth’s professor of economics Randall Kroszner discusses Fed monetary policy and inflation.

Delving deep into the mind at Mindworks Chicago
August 17, 2022 | FOX 32: Good Day Chicago
“We are very pleased with the amount of visitors who have been able to come in from all over the world,” says Jasmine Kwong, director of Booth’s Mindworks. “And half of the people who’ve come in actually participated in our experiments.”

Bureau of Labor Statistics says productivity is down — CEOs must make it grow
August 16, 2022 | Forbes
“The BLS often revises its estimates several times before setting a final productivity number a year after its initial estimate,” explains Chicago Booth’s Chad Syverson. “So I use a 10-year moving average of annual productivity figures.”

Dad praised for telling ‘truth' when adult son asked if he was proud of him
August 16, 2022 | Newsweek
“We're often reluctant to have completely honest conversations with others,” says Booth’s Emma Levine. “We think offering critical feedback or opening up about our secrets will be uncomfortable for both us and the people with whom we are talking.”

Want to build long-term value? Lead with purpose.
August 12, 2022 | Crain's Chicago Business
“A powerful brand can literally save a company during times of market distress and volatility, allowing it to rebound while its competitors succumb to market pressure,” writes Shilpa Gadhok, a member of the Polsky Brain Trust at Booth’s Polsky Center.

How ‘medium-level challenges' keep burnout away
August 12, 2022 | TIME
“Most burnout is actually the result of being underwhelmed—not that it’s too stressful, but that there’s no stress at all,” explains Chicago Booth’s Ayelet Fishbach.

Trump & Biden spent too much on COVID stimulus, says Austan Goolsbee
August 12, 2022 | GZERO World with Ian Bremmer
It was “an unprecedentedly steep downturn [followed by] an unprecedentedly rapid comeback,” Booth’s Austan Goolsbee said of the brief recession the US economy experienced during the pandemic.

Beyond oil, there's not much to cheer about on inflation
August 11, 2022 | CNN Business
“Core inflation is still very disturbing for the Fed, dramatically above where the Fed wants it to be,” said Booth’s Randall Kroszner. “It's too early to give the victory signal because you really have to see core inflation come down.”

Power to the workers? What historical trends suggest about newfound employee influence
August 10, 2022 | GZERO World with Ian Bremmer
Sooner or later employers will regain the upper hand, while remote work will come with strings attached, suggests Chicago Booth’s Austan Goolsbee of workers’ bargaining power.

Minimum wages are going up. Jobs may disappear.
August 9 , 2022 | Bloomberg
President Biden’s proposal to raise the federal minimum to $15 would end up damaging the livelihood of about 15 percent of the workers earning less than that—mainly those at the very bottom of the pay scale, according to recent research by Booth’s Erik Hurst and his colleagues.

U.S. wind operators tool up to capture summer price spikes
August 9, 2022 | Reuters
John R. Birge of Chicago Booth weighs in on the rise in wholesale power prices and how preventative maintenance helps wind farm owners optimise soaring prices this summer.

The private equity club: how corporate raiders became teams of rivals
August 8, 2022 | Financial Times
Firms in the private equity industry now nurture complex relationships with their competitors and it is costlier than ever to misbehave, according to Booth’s Steven Kaplan. “If they behave badly in one deal, they will be treated differently in the next deal.”

The recognition we all want at work
August 8, 2022 | TIME
“If you wish to reward financial performance (eg, the employee brought in a lot of business), give them a bonus,” notes Booth’s Ayelet Fishbach. “If you want to recognize their leadership, give them social reward or recognition by the people they lead.”

Fed’s goal is soft-landing that brings demand down, says Booth School’s Randall Kroszner
August 8, 2022 | CNBC The Exchange
Chicago Booth’s professor of economics Randall Kroszner discusses the Fed, inflation, and economy.

US inflation peak in sight but debate rages over what comes next
August 7, 2022 | Bloomberg
“It would be pollyannish to think that we’re not going to get some shock that would have an impact on energy markets and uncertainty,” said Booth’s Randall Kroszner.    

July’s jobs report was a ‘jaw-dropping’ number, says economist Austan Goolsbee
August 5, 2022 | CNBC: Squawk Box
Austan Goolsbee of Chicago Booth discusses the July jobs report.

RIP, Spirit — America’s most hated airline
August 5, 2022 | The Washington Post
“They were certainly intrepid explorers of the frontiers of misery in the friendly skies,” reflects Booth’s John Paul Rollert on Spirit’s eventual demise. “But in fairness, the other side of that is that they provided a way to make flying, I think on the whole, cheaper.”

US job growth surges, tempering recession worry and pressing Fed
August 5, 2022 | Bloomberg
“The thing is not only the strength of the labor market, but it is also the significant increase in wages higher than expected upward revisions,” said Booth’s professor of economics Randall Kroszner.

Are we in a recession? Not yet, economists say. Here’s what to know.
August 5, 2022 | Chicago Tribune
Chicago Booth’s Austan Goolsbee said he doesn’t believe the U.S. is in a recession but that it could enter one “easily” in the near future.

The Fed is fighting inflation. So is remote work
August 3, 2022 | CNBC.com
Remote work has allowed employers to pay less than they otherwise might, reducing fear of a “wage-price” inflationary spiral, according to a recent paper coauthored by Booth’s Steven Davis.

Fed rate cut expectations are ‘misguided,’ former Fed board member says
August 3, 2022 | Yahoo! Finance Live
Booth’s Randall Kroszner discusses market uncertainty, the possibility of more rate hikes, inflation, recession fears, and the outlook for the unemployment rate.

Ulta Beauty launches $20 million innovation fund
August 3, 2022 | Crain’s Chicago Business
Many companies have tried innovation funds, which can add value to startups and help the parent companies innovate, says Booth’s Steve Kaplan.

Rajan on global economic slowdown
August 3, 2022 | Bloomberg Markets: Balance of Power
Booth’s Raghuram Rajan shares his perspective on what the Fed needs to do to get inflation under control.

What private equity firms are and how they operate
August 3, 2022 | ProPublica
“The number one factor private equity firms focus on now is the ability to grow the revenue of the company,” said Steven Kaplan, a professor of entrepreneurship and finance at Chicago Booth..

Opinion: Canceling student loan debt would really only benefit the well-off
August 2, 2022 | U.S. News & World Report
Policymakers must find a better way to help struggling borrowers without bailing out high earners, Booth’s Constantine Yannelis suggests in an editorial.

Supply chains: Volatility keeps ‘businesses from investing,’ professor says
August 2, 2022 | Yahoo! Finance Live
Chicago Booth’s Raghuram Rajan discusses the labor market, Fed policy, the divide between advanced and growing economies, supply chains, and geopolitical tensions.

How does buy now, pay later work?
August 2, 2022 | Mashable
“It seems to be like the people who you are potentially most worried about are using these products and putting them on their credit cards,” said Benedict Guttman-Kenney, an economics PhD candidate at Chicago Booth, referring to “buy now, pay latter” trends.

You won’t like what comes after inflation
August 2, 2022 | The Washington Post
Raghuram Rajan of Chicago Booth suggests a change in perspective. If monetary policy failed to reinvigorate growth and fiscal stimulus gave us bursting inflation, perhaps the solution is more Build Back Better and less American Rescue Plan.

The Best & Brightest Executive MBAs Of 2022
July 30, 2022 | Poets & Quants
Chicago Booth's Executive MBAs Leslie DeMoss and Mairose Doss were recently named to the annual 100 Best & Brightest Executive MBAs for the class of 2022.

GDP fell again. So, are we in a recession?
July 29, 2022 | The Ringer: Plain English Podcast
Austan Goolsbee of Chicago Booth weighs in on the latest GDP report, the US’s declining productivity, and more.

Currency will remain strong in the Gulf as rates continue to rise
July 28, 2022 | Arabian Gulf Business Insight
“While I see headline inflation numbers reducing over the coming months as petrol and food prices come down, core inflation, that is stripping out energy and food prices, is unlikely to decline,” writes Booth’s Randall Kroszner in a recent op-ed.

Gulf set for more belt tightening as interest rates keep rising
July 28, 2022 | Arabian Gulf Business Insight
“I believe the Fed will continue on a path of further rate rises,” indicates Randall Kroszner of Chicago Booth, “pulling back to a 50 basis point hike in September, and will then stay between 25 and 50 basis points for the subsequent two meetings this year.”

Asia First
July 28, 2022 | Channel News Asia
Booth’s professor of economics Randall Kroszner discusses the Fed’s latest interest rate hike and its implications.
(Interview starts 16:55.)

Will fighting inflation leave the U.S., South Korea in recession? Analysts explain
July 27, 2022 | Arirang News: New Day
“Some believe a mild and short-lived recession may do the U.S. economy good. But the cut in figures also impacts people's jobs and livelihoods,” explains Chicago Booth’s Randall Kroszner.

Countdown to Fed rate decision
July 26, 2022 | Bloomberg Markets: Balance of Power
Booth’s professor of economics Austan Goolsbee weighs in on Fed decisions and inflation.
(Interview starts 2:53.)

Why another GDP decline may not mean the US is in recession
July 26, 2022 | The Hill
“It is not just about GDP growth,” indicated Austan Goolsbee of Chicago Booth. “We always look at real income, industrial productivity, unemployment, GDP growth, and a number of other factors.”

Downtown Chicago is awash in summer tourists. But a key driver of retail activity is missing: office workers.
July 24, 2022 | Chicago Tribune
Booth's Mindworks, a working lab and an interactive discovery center for behavioral science, attracted more than 10,000 visitors in its first year, and nearly two-thirds agreed to participate in research sessions.

The Fed's mission improbable: Beating inflation without causing a recession
July 24, 2022 | NPR: Weekend Edition Sunday
“We've had 13 or 14 recessions since World War II, and more than two-thirds of those recessions were caused by the Fed raising the interest rate faster than the economy can handle,” said Chicago Booth’s Austan Goolsbee.

Emissions reporting could help banks allocate capital more effectively
 July 22, 2022 | American Banker
“I agree with the American Bankers Association that disclosure rules are not neutral and that targeting corporate behavior with disclosure can often be pernicious and hence requires careful analysis,” writes Chicago Booth’s Christian Leuz in a recent op-ed.

The 4-ingredient recipe for getting things done
July 22, 2022 | CNN
“Keep middles short. Instead of a monthly exercise goal, set a weekly exercise goal and instead of an annual professional goal, set a monthly goal for what you want to achieve at work,” suggests Booth’s Ayelet Fishbach of ways to stay motivated.

Poll: 28% of voters approve of Biden’s handling of the economy
July 22, 2022 | FOX Business
Austan Goolsbee of Chicago Booth discusses Biden’s falling approval on his handling of the economy.

Hard landing in Europe, soft landing in U.S. is plausible scenario, says University of Chicago’s Randy Kroszner
July 21, 2022 | CNBC: Power Lunch
Booth’s Randall Kroszner discusses how the central banking world is considering the European Central Bank rate increase decision, if the Federal Reserve will be the first central bank to pivot out of rate increases, and more.

Planet Money Summer School 2: GDP and what counts
July 20, 2022 | NPR: Planet Money
Chicago Booth’s Luigi Zingales weighs in on the questions of what is “the economy,” how do we measure it, and how do we even know if the economy is doing well or not.

Chicago VC firm MATH Venture Partners not raising a new fund
July 19, 2022 | Crain's Chicago Business
“Everyone is overallocated right now,” said Chicago Booth’s Steven Kaplan, commenting on the funding challenges faced by investors. “It’s a tougher slog going forward to raise money.”

Wall Street braces for economic ‘hurricane’
July 19, 2022 | Politico
“We keep getting shock after shock, from the Delta strain of covid to Omicron and the war in Ukraine, and nobody really predicted all those,” said Booth's Austan Goolsbee of the difficulty of predicting where the economy is heading.

Where is the economy likely to go next?
July 17, 2022 | NPR: Weekend Edition Sunday
Chicago Booth’s Austan Goolsbee talks about what's driving inflation and why so many economic forecasts have been wrong.

Remote work may be an unlikely ally in Federal Reserve’s inflation fight
July 15, 2022 | CNBC
Employees may accept a smaller raise from their current employer as a tradeoff for working from home a few days a week, or take a new job at lower pay but with a greater opportunity to work remotely, according to Booth’s Steven J. Davis.

Fmr Fed Governor Kroszner on US inflation
July 15, 2022 | Bloomberg Markets: Americas
Booth’s professor of economics Randall Kroszner discusses inflation and unemployment rate predictions.

What inflation? China’s peppercorn purveyors are feeling the heat.
July 15, 2022 | The Washington Post
The “draconian” COVID controls in China are likely to continue, indicates Zhiguo He of Chicago Booth.

Analysis: Ten years on, Italy faces debt crisis Draghi may not solve
July 15, 2022 | Reuters
Italy essentially missed the digital revolution due to the “the Italian disease” of entrepreneurs who opt to keep a small business in the family rather than grow it with the help of outside investors, according to Booth’s Luigi Zingales.

The winner in Musk v. Twitter will be Delaware
July 15, 2022 | Barron's
“Delaware may be where any sensible businessman would want to be sued, but ultimately the First State’s overriding motivation is to look after its own best interests,” writes Booth’s Hal Weitzman in a recent op-ed.

The rumbles of a reverse currency war
July 13, 2022 | NPR: The Indicator from Planet Money
Booth's professor of economics Randall Kroszner weighs in on the concept of a reverse currency war.

CPI number will sober the Fed up, says Booth Professor Austan Goolsbee
July 13, 2022 | CNBC: Squawk Box
Chicago Booth's Austan Goolsbee discusses the impact of the Consumer Price Index report on the markets.

Entrepreneurs: It's better to persuade than to dictate
July 12, 2022 | Crain's Chicago Business
“Persuasive leaders offer motivation, inspiration and creativity through inclusiveness. They know that none of us is as smart as all of us,” writes Ozge Guney-Altay, director of Booth's Polsky Science Ventures, in a recent op-ed.

Why ‘friend-shoring’ is at the top of Yellen’s agenda in Japan
July 11, 2022 | The Hill
“I don’t think we’re turning back the clock by decades here, but the last couple years have made a lot of companies recognize elements of fragility that they didn’t realize were there,” Booth's Chad Syverson said of friend-shoring and its new relevance following the pandemic.

Madhav Rajan reappointed dean of Booth School of Business
July 8, 2022 | News India Times
“I am incredibly proud of all that Chicago Booth has achieved over the past five years, and I’m thrilled to continue our work to ensure Booth remains the best business school in the world,” said Madhav Rajan following his reappointment as Booth dean.

Working from home is costing employees increases in pay
July 8 , 2022 | The Observer
“Many workers are willing to accept a smaller pay increase in exchange for the opportunity to work from home two or three days a week, because they save time and money by avoiding a commute on those days,” said Steven J. Davis of Chicago Booth.

Jobs market robust but will weaken, Kroszner warns
July 8, 2022 | Bloomberg Surveillance
Randall Kroszner of Chicago Booth says the June US employment report will spur the Fed to hike 75 basis points at the next meeting.

5 ways to survive an economic downturn
July 7, 2022 | US News & World Report
Consumers tend to shift spending away from non-essential categories and often become more price sensitive during recessions, according to research by Booth's Pradeep K. Chintagunta and coauthor.

Job openings provided the Fed with ‘a perfect report': Economics professor
July 6, 2022 | Yahoo! Finance Live
Austan Goolsbee of Chicago Booth talks about the latest round of economic data from the May JOLTS report, the state of the job market amid the Fed's interest rate hikes, and inflationary pricing impacting consumers.

Biden admin still has ‘low hanging fruit’ to tame inflation, says Michael Strain
July 6, 2022 | CNBC: Squawk Box
Booth's professor of economics Austan Goolsbee discusses what the Biden administration could do to tame inflation.

Corporations’ thirst for profits isn’t to blame for inflation, economists say
July 6, 2022 | The Hill
“There’s been a lot of research that people have found reasonably convincing that says that measures of market power seem to have been ticking up,” said Booth’s Chad Syverson.

Canceling student debt for everyone is bad policy and bad economics
July 5, 2022 | The Hill
“Student loan forgiveness primarily benefits affluent borrowers. Full cancelation would distribute $192 billion to the top 20 percent of earners, and only $29 billion to the bottom 20 percent,” according to Booth’s Constantine Yannelis and coauthor.

Experts fear that the benefits of too many ‘healthy’ foods are being exaggerated by sponsored research
July 4, 2022 | The Daily Mail
“These are not bad studies,” indicates Anita Rao, a professor of marketing at Chicago Booth. “But they are likely to be painting a rosier picture when it is positive.”

Lawmakers fear growing power of cartel-like blocs amid high inflation
July 1, 2022 | The Hill
The relationship between inflation and market concentration is a bit mysterious, according to Booth’s Chad Syverson. “It’s not the best measure of how competitive an industry is. It is caused by competition as well as causing competition,” he indicated.

Behind the Celsius sales pitch was a crypto firm built on risk
June 29, 2022 | The Wall Street Journal
“It’s just a risky structure,” Chicago Booth's Eric Budish said of Celsius. “It strikes me as diversified as the same way that portfolios of mortgages were diversified in 2006,” referring to a feature of the 2008 financial crisis.

How the rest of the world is returning to the office
June 29, 2022 | The Atlantic
“Most people do value the interaction they get, and the networking and the socializing and the learning that they get, in the office,” says Booth's Steven Davis. “They just don’t want to do it five days a week.”

As prices skyrocket, coupons are harder to find than ever
June 29, 2022 | The New York Times
“With inflation, this is what should go up tremendously as a tool to help customers,” said Chicago Booth's Sanjay K. Dhar of the shrinking coupon market.

Can regulators catch up to crypto?
June 28, 2022 | Slate
Anthony Lee Zhang of Chicago Booth discusses the future of crypto investment and the potential for regulation.

Corporate America was becoming more partisan even before Roe’s reversal—and that’s ‘likely not in the interest of shareholders,’ research says
June 27, 2022 | MarketWatch
“The increasingly partisan work environment has negative consequences for firm value, by leading to inefficient separations between executives and firms,” indicated Booth’s Elisabeth Kempf and coauthors.

Did corporate greed fuel inflation? It’s not biggest culprit
June 26, 2022 | Associated Press
Sixty five percent of economists said they won’t support a regulation that prohibits big companies from selling their goods at an “unconscionably excessive price” during a market shock, according to a poll by Booth’s Initiative on Global Market.

Job market could weaken a bit at some point, says fmr. Fed Governor Kroszner
June 24, 2022 | CNBC Squawk on the Street
Randall Kroszner of Chicago Booth discusses the Fed’s move in addressing inflation, job markets, and more.

Remote work could save firms $206 billion and ease pressure on the Fed
June 24, 2022 | Bloomberg
Remote work helps moderate business costs and ease the challenge facing monetary policy makers in their efforts to bring inflation down without stalling the economy, according to research by Booth’s Steven Davis and coauthors.

High gas prices are hurting small businesses that need big vehicles
June 22, 2022 | NPR: All Things Considered
Chicago Booth’s Michael Alter says small businesses that are route based or have to drive to their customers—such as contractors, plumbers, electricians, cleaning services, and exterminators—are all taking a hit from high gas prices.

How likely are stimulus checks to be used in the next recession? Economists weigh in
June 22, 2022 | CNBC.com
Whether stimulus checks are deployed by the government in another recession may depend on what caused the downturn, said Chicago Booth’s Joseph Vavra.

Don’t call it Asian carp. Call it . . .
June 20, 2022 | Crain’s Chicago Business
As Illinois plans to rename the Asian carp as a marketing move, Chicago Booth’s Pradeep Chintagunta remarks that rebranding has worked for other species. “Chilean sea bass, from what I understand, is actually not sea bass at all,” he said. “It’s actually a Patagonian toothfish. So I think that’s been pretty successful.”

Would Warren Buffett buy your family business?
June 20, 2022 | Crain’s Chicago Business
In navigating economic uncertainty, closely held businesses have an opportunity to enhance their distinct competitive advantages by reflecting on key lessons from the “Oracle of Omaha,” suggests Duane Jackson, an investor-in-residence at Booth’s Polsky Center.

Randy Kroszner: Fed will have to raise rates by the end of 2022
June 16, 2022 | CNBC: Power Lunch
Randall Kroszner of Chicago Booth discusses his reaction to the Fed’s decision to leave rates unchanged and how to think about the “dot plot.”

6 hiring best practices for startups scaling their businesses
June 13, 2022 | Forbes
In a Chicago Booth Review article, Booth’s Ram Shivakumar suggests performing an audit of competencies in your startup. Work to pin down the skills your startup needs to survive and thrive, and take note of which of these skills your team possesses and which it does not.

India’s high unemployment is ‘real danger’: Raghuram Rajan
June 13, 2022 | Fortune India
Raghuram Rajan of Chicago Booth discusses economic growth and the high unemployment rate in India.

China company registrations plummet during Covid lockdowns
June 12, 2022 | Bloomberg
China could face a “missing generation of firms, with large long-run effects” depending on how long the Covid lockdowns continue, indicates Chicago Booth's Chang-Tai Hsieh.

US set for recession next year, economists predict
June 12, 2022 | Financial Times
The US economy will tip into a recession next year, according to a poll of leading economists by Booth’s Initiative on Global Markets in partnership with the Financial Times.

It works for Sneakers. Now it’s for Baby PJs and Skateboards, too.
June 11, 2022 | The New York Times
Manufacturing excitement with limited edition product “drops” changes consumer behavior, according to Booth's Abigail Sussman. It turns a decision that you could postpone buying into something you have to buy right now.

‘More of a financial services firm than a state’: How Delaware is driving the economy dark
June 10, 2022 | Barron's
Hal Weitzman, adjunct professor of behavioral science at Chicago Booth, talks about Delaware and the far-reaching effects of its system.

Expect a base case scenario of a mild recession sometime next year, says professor
June 9, 2022 | CNBC: Squawk Box Asia
Raghuram Rajan of Chicago Booth discusses the possibility of a recession.

ECB must move aggressively on rate hike, former Fed Governor Kroszner says
June 9, 2022 | CNBC: Squawk Box Europe
Randall Kroszner of Chicago Booth discusses the outlook for the pace of rate hikes for the European Central Bank and the Federal Reserve.

How ‘trustless’ is Bitcoin, really?
June 6, 2022 | The New York Times
Eric Budish, a professor of economics and entrepreneurship at Chicago Booth, weighs in on Bitcoin’s pros and cons.

Divestment: are there better ways to clean up ‘dirty’ companies?
June 6, 2022 | Financial Times
“When you choose exit, you don’t have any voice in the future,” says Chicago Booth's Luigi Zingales of investors who sell shares in fossil fuel companies.

What the May jobs report means for the Fed's policy path
June 3, 2022 | Bloomberg Surveillance
Randall Kroszner, a professor of economics at Chicago Booth, says the May employment report will spur the Fed to raise rates by 50 basis points at least through September.

Just say no to “friend-shoring”
June 3, 2022 | Project Syndicate
“The benefits of a global supply chain stem precisely from the fact that it involves countries with very different income levels, allowing each to bring its comparative advantage to the production process,” writes Booth's Raghuram Rajan in a recent op-ed.

Can buy now, pay later survive the cost of living crisis?
June 3, 2022 | Financial Times
“Reduced sales and lower spending is going to reduce margins, and then people having less money left over will push up defaults,” indicated Booth PhD candidate Benedict Guttman-Kenney.

Fed won’t change tightening course in short run, says economist Austan Goolsbee
June 2, 2022 | CNBC: Squawk Box
Austan Goolebee of Chicago Booth discusses the state of the US economy.

Why physicians may prescribe more drugs on colder days
June 1, 2022 | Becker's Hospital Review
“You're about 5 percent less likely to be prescribed statins or cholesterol medication if your blood was tested on a warm day than if it was tested on a cold day,” said Devin G. Pope of Chicago Booth.

Kroszner: US economy, consumer slowing down
May 31, 2022 | Bloomberg Markets: European Close
Randall Kroszner of Chicago Booth discusses a wide range of topics, from the Federal Reserve to the US consumer.

Zombie mall: The twisting tale of the Indio mall and what its future might hold
May 30, 2022 | Palm Springs Desert Sun
Joseph Pagliari of Chicago Booth said the closure of anchor tenants—coinciding with the rise in online shopping—kicked off a process of slow economic rot at many malls, as store closures led to fewer customers.

Where do we go from here: Inflation or recession?
May 29, 2022 | The Washington Post
“If it were me and I was in charge of monetary policy, would I cause a big recession to keep inflation low? No,” said Chicago Booth’s John Huizinga. “But I would try to get to a stable inflation rate.”

We're getting mixed messages on economy: Goolsbee
May 27, 2022 | Bloomberg: Balance of Power
Austan Goolsbee, a professor of economics at Chicago Booth, talks about the latest on economy. 

How to get people to do what you want them to do
May 25, 2022 | The New York Times
“The ability to commit to what type of information will be generated is a powerful tool,” said Booth’s Emir Kamenica, referring to Bayesian persuasion as a technique that uses information to get people to change their behavior in desired ways.

'People are still upset’: why Joe Biden’s jobs boom failed to win over voters
May 25, 2022 | Financial Times
“When you have resurgences of variants of the virus, that sets it back, and when you have wars driving up the cost of commodities, that sets it back,” said Chicago Booth’s Austan Goolsbee of economic growth in the US.

Wish that cute house down the street were for sale? This startup can help.
May 23, 2022 | Crain's Chicago Business
Chicago Booth’s Alumni New Venture Challenge awarded first place to Unlisted, a Midwest startup that helps home buyers find their dream home, which was founded by Booth alumna Katie Hill, ’13.

Kroszner says inflation will remain elevated for some time
May 23, 2022 | Bloomberg: Balance of Power
Randall Kroszner, a professor of economics at Chicago Booth, discusses inflation and the path forward for the Fed.

How should I save up for a family home and school fees?
May 23, 2022 | Investors' Chronicle
Alex Imas of Chicago Booth indicates that professional fund managers might find it hard to know when to sell. Although their buys beat the market, their sells result in worse returns than selling stocks at random would.

Money 2.0: Why we bust our budgets
May 21, 2022 | NPR: Hidden Brain
Abigail Sussman, a professor of marketing at Chicago Booth, points out our blind spots around money, and how we can be smarter about spending and saving.

Inflation is high, pervasive and frequently felt. That’s a dangerous mix
May 20, 2022 | The Globe and Mail
“I think it’s actually very unlikely that we’ll see inflation decreasing to a target rate of around 2 percent without having a recession. I think it’s almost impossible,” says Chicago Booth’s Michael Weber.

Retailers bulked up their inventories during the worst of the pandemic. Now they’re stuck with them.
May 19, 2022 | Marketplace
Retailers are stuck with all this extra inventory because they made some lousy forecasts about consumer spending, said Nicole DeHoratius, adjunct professor of operations management at Booth.

McDonald's Russian exit could get messy
May 16, 2022 | Crain's Chicago Business
“One of the most perceptive questions you can ask about a company is, ‘When they’ve had their back against the wall, have they found a way to continue to grow?’” says Booth's James Schrager.

Selling your business? Don't leave money on the table.
May 16, 2022 | Crain's Chicago Business
Michael Frankel, who is a member of the Polsky Brain Trust, a collective of thought leaders affiliated with Chicago Booth’s Polsky Center, outlines six ways to maximize the value of your business by minimizing the buyer’s risk.

Majoritarianism will be extremely dangerous for the future of India: Raghuram Rajan
May 14, 2022 | Financial Express
Weighing in on economy and majoritarianism in India, Raghuram Rajan of Chicago Booth said India needs inclusive growth and the country cannot have inclusive growth by treating any segment of the population as second class citizens.

Inflation views tilt the Fed's way, a bit
May 13, 2022 | Reuters
“Inflation expectations have not become unanchored despite inflation going from a decade where they cannot get to the goal to going to four times it,” said Booth's Randall Kroszner. “That is a pretty amazing feat.”

What McDonald's could do next in Russia
May 13, 2022 | Crain's Chicago Business
Getting out of Russia completely and writing off stores there would have an adverse effect on McDonald's balance sheet, but leaving might be less messy than refranchising, indicates Chicago Booth's James E. Schrager.

Inflation expectations with Rajan
May 13, 2022 | Bloomberg Surveillance Podcast
Raghuram Rajan, a professor of finance at Chicago Booth, says the market believes the Fed is serious about inflation.

Jerome Powell’s grade for his first term leading the Fed? An incomplete.
May 13, 2022 | MarketWatch
Austan Goolsbee of Chicago Booth said Fed Chairman Jerome Powell's sternest test still lies ahead. The manner in which the Fed brings down inflation over the next 18 months will be the test of his tenure.

People don’t like algorithms making moral decisions, U of C study finds
May 12, 2022 | Becker's Health IT
As algorithms make more choices in our daily lives, from the advertisements we see to the shows we watch to whom we date, people are uncomfortable when those decisions involve moral issues, according to research by Booth's Berkeley J. Dietvorst and Daniel Bartels.

Three experts react to April’s key inflation report
May 11, 2022 | CNBC: Squawk Box
Austan Goolsbee, a professor of economics at Chicago Booth, breaks down April’s key inflation reading.

US inflation rate slows but remains close to 40-year high
May 11, 2022 | The Guardian
Randall Kroszner of Chicago Booth said the sharp rise in core inflation would worry the Fed. “That is where you look for evidence that inflation is becoming entrenched,” he indicated.

CEOs of Chicago-area companies got generous raises in 2021
May 11, 2022 | Crain's Chicago Business
Steven Kaplan of Booth says companies may have worried about senior executives below the CEO rank leaving for other opportunities as they felt the pinch of 2020. But giving those executives big raises might have made it hard for boards not to do the same for the top bosses.

Fund that thrived with founder in Russian jail can’t Escape war
May 9, 2022 | Bloomberg
“Russia was dicey before this and now it’s completely dicey,” says Booth's Steve Kaplan commenting on Russia's troubled assets.

Goolsbee: The job market is great. Democrats need to sell it.
March 6, 2022 | MSNBC: The Last Word with Lawrence O'Donnell
Austan Goolsbee of Chicago Booth discusses the state of the economy and how Democrats should ease the concerns of voters ahead of the 2022 midterm elections.

We need to revitalise the world economy in inclusive ways
May 6, 2022 | Financial Times
“We need bold policy action, breaking free of growing political constraints that limit our ambition,” writes Chicago Booth's Raghuram Rajan in a recent op-ed. “It will not be easy, but it is necessary, perhaps to our very existence.”

10 things you'll spend less on in retirement
May 4, 2022 | Kiplinger
The average retired household spends 25 percent less on food and 35 percent less on dining. The logic for this is that retirees are more careful, price-conscious shoppers, accordingly to research coauthored by Booth's Erik Hurst.

Taking care of business: Reimagining the Office
May 3, 2022 | CRBE: The Weekly Take Podcast
Steven Davis, a professor of international business and economics at Chicago Booth, explores what dynamic work arrangements mean for office occupancy strategies.

Fed reaches for its ‘hatchet’ to attack galloping inflation
March 2, 2022 | Financial Times
The Fed is "playing catch-up," indicates Booth's Randall Kroszner. “If they don’t act boldly and speak about acting boldly now, the risk of inflation expectations becoming unanchored increases significantly.”

100 Best & Brightest MBAs: Class of 2022
May 1, 2022 | Poets & Quants
Chicago Booth's MBAs Brian Carlson, Ryan Hall, and Amira Khatib were recently named to the annual 100 Best & Brightest MBAs for the class of 2022.

To tackle student debt, fix ineffective colleges
April 29, 2022 | The New York Times
A 2020 survey of leading academic economists by Chicago Booth’s Initiative on Global Markets weighs the pros and cons of student loan forgiveness.

Focus on FOMC meeting
April 29, 2022 | Bloomberg: Wall Street Week
Chicago Booth’s Randall Kroszner discusses what to expect from the Fed at the upcoming Federal Open Market Committee meeting. He says that the Fed needs to act boldly to ensure that inflation expectations don’t become unanchored.

Is timing more important than speed for grocery delivery?
April 28, 2022 | Retail Wire
“I strongly encourage retailers to rethink their operations to optimize not only on speed but also the most appropriate combination of speed, precision, and flexibility,” says Chicago Booth’s Nicole DeHoratius.

We can all accomplish more—here’s how
April 27, 2022 | NPR: Think
Chicago Booth’s Ayelet Fishbach discusses her research into why we can’t always find the mental strength to take on a new task, how to clear the distractions that get in the way, and ways to stay on target to reach your goals.

Too early to pinpoint accounting issues on ESG for private companies, panel says
April 26, 2022 | Thomson Reuters Tax & Accounting
LPs are allocating capital to private funds specifically related to ESG types of topics, suggests Chicago Booth’s Michael Minnis.

Hiking interest rates to tame inflation not ‘anti-national’: Former RBI chief Raghuram Rajan
April 25, 2022 | The Economic Times
“Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing,” said Chicago Booth’s Raghuram Rajan.

Regulating the crypto wild west
April 22, 2022 | Project Syndicate
How should governments weigh the risks and rewards of digital assets? Chicago Booth’s Raghuram G. Rajan shares his views.

‘Anti-minority’ image will hurt Indian companies, warns Raghuram Rajan
April 22, 2022 | Press Trust of India
Foreign governments may perceive another country as a ‘reliable partner’ or not based on its treatment of its minorities, suggests Booth professor Raghuram Rajan.

This algorithm has opinions about your face
April 21, 2022 | Science Daily
In a collaborative research project, Chicago Booth’s Stefan Uddenberg and Alexander Todorov have taught an A.I. algorithm to model first impressions and accurately predict how people will be perceived based on a photograph of their face.

Chicago Booth opens new London campus
April 20, 2022 | Poets and Quants
Chicago Booth has opened the doors to its new campus in central London. The grand opening brought together faculty, alumni, and business leaders to celebrate the school’s commitment to global leadership and investing in the London community.

Booth and Kellogg host world’s premier Entrepreneurship Through Acquisition (ETA) Conference
April 19, 2022 | Elk Valley News
The 8th Annual Booth-Kellogg Entrepreneurship Through Acquisition Conference returns to downtown Chicago as an in-person event on April 25. The plenary session features Mark Agnew, adjunct associate professor of entrepreneurship at Booth, in conversation with alumnus Michael Curry, ’13, CEO of Apex Physics Partners.

Small businesses push back on plan to redirect COVID relief funds
April 19, 2022 | Marketplace
Eric Zwick of Chicago Booth said if a restaurant is having trouble keeping customers in because it used to serve office workers and those office workers aren’t coming back, that restaurant needs to change its business model.

Return to office: Millions of employees aren’t going back to working in person
April 19, 2022 | Yahoo Finance
Steven J. Davis, a professor of economics at Chicago Booth, discusses long social distancing practices, job searches for flexible benefits, inflation, generational labor sentiments, and social media labor trends.

Your business depends on hiring the right sales team
April 18, 2022 | Crain's Chicago Business
“There is a lot more to successful salespeople than industry experience and a good track record,” says Chicago Booth's Michael Alter. “You need to hire the right sales skills for the stage and maturity of your business.”

High and low MBA salaries and bonuses at the top B-schools
April 17, 2022 | Poets and Quants
Among the 2021 graduates of top business schools, Chicago Booth reported the highest average sign-on bonus at $40,544.

Will rising prices sink Biden’s midterm hopes for Democrats?
April 17, 2022 | The Guardian
“There are two questions. One is, is this peak inflation? But even if it is peak inflation and the numbers are coming down, what are they going to come down to?” asks Chicago Booth's Austan Goolsbee.

Is a recession the only way to stop inflation?
April 13, 2022 | The New York Times
“In Europe, they didn’t do the big stimulus that we did, but the inflation is now almost as high as ours,” says Chicago Booth's Austan Goolsbee. “It’s a global phenomenon. It’s not primarily coming from U.S. stimulus.”

Wall Street is battling to determine the future of work from home
April 12, 2022 | CNN
We're in the middle of a restarting phenomenon, says Chicago Booth's Steven J. Davis. The nature of work will become stratified, as companies will decide where they stand on hybrid work and workers will sort themselves based on their preferences.

The Fed's fight against inflation continues
April 11, 2022 | Bloomberg
Austan Goolsbee of Chicago Booth previews the U.S. inflation data that is set to be released this week.

Advocate, Northwestern hospitals haven’t spent their ‘fair share’ on charity, new report says
April 11, 2022 | Chicago Tribune
“I do think that nonprofit hospitals have benefited from the Affordable Care Act in a way that I think makes it fair for us to ask whether they are providing enough additional community benefits in return for that,” says Chicago Booth's Matt Notowidigdo.

Greed or good business? A look at food company profits over the past year
April 9, 2022 | Minneapolis Star Tribune
“Firms have better pricing power because of higher household inflation expectations,” said Chicago Booth's Michael Weber. “When inflation expectations are high, businesses have an easier time passing through cost increases.”  

Beijing wants to see more innovation in semiconductor tech and mRNA vaccines, says professor
April 8, 2022 | CNBC: Street Signs Asia
Zhiguo He of Chicago Booth says Beijing is less interested to progress in areas like gaming and soft technology and wants to see instead more innovation in semiconductor tech.

Calmatters: From scandal to scrutiny—how intense citizen oversight reshaped Oakland police
April 7, 22 | The San Francisco Gate
Canice Prendergast of Chicago Booth said complaints against officers resulted in suspensions, resignations, and terminations at levels far higher than before.

Fed tightening will slow growth and increase risk of recession, says fmr. Fed Governor Kroszner
April 6, 2022 | CNBC: The Exchange
Randall Kroszner, a professor of economics at Chicago Booth, discusses how the Fed can implement tightening to tame inflation.

Treasury yields at new highs as balance sheet rundown talk weighs
April 6, 2022 | Reuters
Chicago Booth's Randall Kroszner said Fed policymakers have the opportunity to maintain credibility, but “they need to act boldly” to rapidly raise interest rates and wind down the balance sheet.

Strong job gains in March keep a flame under the recovery
April 1, 2022 | The New York Times
“It’s all about the virus, the virus, the virus—and the virus’s grip on the American psyche seems to have loosened,” said Chicago Booth's Austan Goolsbee. “And we may be moving toward the idea that ‘the Covid era’ of the U.S. economy is done.”

Taiwan’s fatal attractions
April 1, 2022 | Project Syndicate
“The central goal of Taiwanese foreign policy should be to deter China from taking the island by force, and that calls for restraint, not reckless grandstanding,” writes Chicago Booth's Chang-Tai Hsieh in a recent op-ed.

Rajan sees no reason for BOJ to change policy stance
March 30, 2022 | Bloomberg: Daybreak Asia
Raghuram G. Rajan, a professor of finance at Chicago Booth, talks about Bank of Japan's policy.

Elon Musk: Tesla, SpaceX could have ‘died’ if billionaire’s tax existed in 2008
March 30, 2022 | New York Post
Chicago Booth's Steven Kaplan argues that cash-strapped Tesla and SpaceX could have collapsed in 2008 if Elon Musk had left PayPal with $60 million less because of a wealth tax.

Here’s the neat trick of Biden’s billionaire tax
March 28, 2022 | The New York Times
Eric Zwick, a professor of finance at Chicago Booth, said the billionaire tax is a little bit like a conventional capital gains tax, except with the tax paid over time based on the best estimate of the value of the assets each year.

Silicon Valley's latest "unicorn" is a Bored Ape
March 25, 2022 | CBS MoneyWatch
“NFTs themselves can be valuable, but there are a lot of applications where the underlying blockchain technology could be used,” says Chicago Booth's Jason M. Heltzer. “These companies are priced in such a way that their future potential is priced in.”

Another stimulus check could help fight inflation but a fourth is unlikely, experts say
March 24, 2022 | The Hill
Households with $500 or less in their bank spent almost half of their stimulus payment within 10 days of receiving it, according to a research by Chicago Booth’s Constantine Yannelis.

Companies are calling workers back to offices, again. But it might not be for five days a week anytime soon.
March 24, 2022 | Chicago Tribune
Chicago Booth's Steven J. Davis said that two years of practice, improved technology, and increasing demand from employees to work from home has made the concept of working remotely more palatable for employers.

A low birthrate was supposed to weaken Russia. What happened?
March 23, 2022 | The New York Times
Eric Zwick, a professor of finance at Chicago Booth, shares insights from his research on the decline in the US corporate-sector labor share. 

China expected robust economic growth in 2022. It’s not looking good.
March 23, 2022 | The Washington Post
“The fundamental economy is at a very important crossroads,” Chicago Booth's Zhiguo He said of the recent market turmoil. “A bunch of economic bad news has accumulated over the past half year.”

Fewer hot showers, less meat: How retirees on fixed incomes are dealing with inflation
March 21, 2022 | The Washington Post
“There is an unfortunate stratification and contribution to inequality in that way: If you’re a lower-income senior who doesn’t ever shop online, as inflation goes up, you just have to eat it,” says Chicago Booth's Austan Goolsbee.

Older Americans, flush with housing and stock portfolio wealth, poised to revive spending this year
March 20, 2022 | The Wall Street Journal
“We have this big [older] demographic, their wealth went up tremendously these past two years,” said Chicago Booth's Constantine Yannelis, adding that with “much more available cash on hand, it’s quite likely they’re going to boost consumer spending.”

How startups can turn their products and customers into their best promoters
March 18, 2022 | Crain's Chicago Business
“Entrepreneurs still have to execute the usual tactics—social media, content marketing, public relations, etc. But with budgets tight, your product itself has to help carry the load,” says Melissa Harris, an entrepreneur-in-residence at the Polsky Center.

Economic weapons of mass destruction
March 17, 2022 | Project Syndicate
“While economic weapons have helped the world bypass a paralysed global governance system in response to Russia’s war of aggression, they also highlight the need for new safeguards in the future,” says Raghuram Rajan, a professor of finance at Chicago Booth.

Why it’s harder for food and drug companies to stop Russian sales
March 17, 2022 | Crain’s Chicago Business
Keeping some form of business functioning in Russia could double as a branding move, winning companies moral brownie points while allowing them to maintain a toehold in the country, says Chicago Booth’s Amanda J. Sharkey.

Kmart in Bridgehampton is one of the last four in the country
March 17, 2022 | Newsday
“Kmart decided they were never going to update their strategy from 1962. And they slowly became irrelevant as newer, better discounters appeared,” said James E. Schrager, a clinical professor of entrepreneurship and strategy at Chicago Booth.

Big law’s deal boom is tough to repeat with Ukraine uncertainty
March 16, 2022 | Bloomberg Law
“Russia’s invasion has put downward pressure on stock markets and has markedly increased uncertainty,” says Chicago Booth’s Steven Kaplan. “One should expect fewer deals everywhere, but particularly Europe.”

Federal Reserve raises rates .25%, forecast shows seven hikes for 2022
March 15, 2022 | CNBC: Power Lunch
Chicago Booth’s Randall Kroszner discusses the Federal Reserve’s decision to raise the federal funds rate and what a reduction in the federal balance sheet would do.

8 habits that are good for the brain—and how to make them stick
March 15, 2022 | AARP
You’re more likely to achieve your goals if they’re less chore-like and, instead, built around something you enjoy, says Ayelet Fishbach, a professor of behavioral science and marketing at Chicago Booth.

When you think about investing, don’t think about the news
March 13, 2022 | The New York Times
Richard H. Thaler, professor of behavioral economics at Chicago Booth, talks about how to invest for the long run even in an uncertain world.

If COVID-19 taught us anything, it’s to expect the unexpected
March 11, 2022 | MarketWatch
Chicago Booth’s Lubos Pastor argues that the U.S. stock market over the last 220 years got lucky, and there is no assurance that in the future, risk will decline as holding period lengthens.

Democrats grapple with mixed Covid-19 stimulus legacy on anniversary
March 11, 2022 | The Wall Street Journal
“Once it comes to a year in and you’ve already done two things, I think that’s what endangers the third thing,” Chicago Booth’s Austan Goolsbee says, commenting on the American Rescue Plan and the difficulty of passing Build Back Better.

War in Ukraine could mean precious metal shortages, and thus, more catalytic converter thefts
March 11, 2022 | CBS Chicago
Economists including Chicago Booth’s Chad Syversion warn that the war in Ukraine could make the problem of catalytic converter thefts even worse.

February CPI: Experts say inflation numbers will be high
March 9, 2022 | NewsNation: On Balance with Leland Vittert
Chicago Booth’s Austan Goolsbee said certain public prices have an outsized impact on consumers’ perception of inflation, and gas prices are one of them.

India needs to recalibrate response to price pressure amid Russia-Ukraine war, says Raghuram Rajan
March 9, 2022 | The Times of India
Like every other central bank, the RBI has to recalibrate as it faces new challenges and ask whether the old playbook still holds, says Chicago Booth’s Raghuram Rajan.

Americans say high prices are hitting the things they need to get by
March 9, 2022 | The New York Times
"It matters what households actually purchase frequently, rather than what has a bigger expenditure share,” Chicago Booth's Michael Weber says of how people form their views of inflation. 

Marianne Bertrand: inequity detective
March 7, 2022 | International Monetary Fund
"As countries get richer, they have more time and resources to devote to considerations of equity. We can afford an inclusive world,” says Chicago Booth’s Marianne Bertrand.

Bond traders track oil as rising inflation bets muddy Fed’s job
March 4, 2022 | Bloomberg
Increases in commodity prices should be “continuing for quite some time and probably quite significantly,” said Chicago Booth’s Randall Kroszner.

Russia’s war prompts a pitch for ‘socially responsible’ military stocks
March 4, 2022 | The New York Times
“Although self-appointed arbiters of responsibility may believe otherwise, leaders of our elected government, both Democratic and Republican, have always believed that having a strong military was socially responsible,” says Lubos Pastor, a professor of finance at Chicago Booth.

U.S. adds 678,000 jobs in February, with labor market nearing full recovery from pandemic
March 4, 2022 | The Washington Post
“Covid is loosening its grip. The virus ruled through fear, and that fear is fading,” says Chicago Booth’s Austan Goolsbee. “You see that around the country, as people are willing to go back out to jobs they weren’t willing to take in the midst of the pandemic.” 

More remote workers are moving to small towns like Quincy that better match their lifestyles as pandemic reshapes the workplace
March 4, 2022 | Chicago Tribune
The sense of community people find in small towns can sometimes replace some of the social connections that are lost in remote working environments, according to Nicholas Epley, a professor of behavior science at Chicago Booth.

Talking war and market volatility with a giant of economics
March 4, 2022 | The New York Times
Chicago Booth’s Eugene F. Fama says the stock market can’t easily process “irrational” behavior. What will happen? “Who knows?” he says. “Basically, we’re in a period where we have had an injection of uncertainty into the world, so speculative prices are going to go up and down in response.”

Fewer crimes if locals know police officers
March 3, 2022 | The Times
Giving people information about their local police officers may reduce crime rates, research by Chicago Booth’s Anuj Shah suggests.

Opinion: America’s indulgence of corporate secrecy (like Delaware LLCs) makes it harder to squeeze Putin
March 2, 2022 | MarketWatch
Washington’s historical indulgence toward corporate secrecy makes it harder to place economic pressure on Putin’s regime, argues Chicago Booth’s Hal Weitzman. “To a large extent, these efforts depend on transparency: the more we know about who is doing what in the global financial system, the easier it is to respond quickly when we want to do so.”

Ukraine war likely to delay interest rate rises, says Man Group chief
March 1, 2022 | Financial Times
A majority of economists polled by Booth’s Initiative on Global Markets and the Financial Times expect the federal funds rate to increase to a minimum of 1.5 percent by the end of the year.

Fed’s expected policy will be ‘too little too late’ on inflation, economists fear
February 26, 2022 | Financial Times
The Federal Reserve will fail to control inflation if it delivers only six quarter-point rate rises this year, according to a survey of economists by Booth’s Initiative on Global Markets and the Financial Times.

56 percent of Americans think Biden’s first year was a failure
February 25, 2022 | PBS News Hour
Booth’s Austan Goolsbee says President Biden’s approval numbers matter even more as he tries to push big policies.

How will Russia’s invasion of Ukraine hit the global economy?
February 24, 2022 | Financial Times
Chicago Booth’s Randall Kroszner said that yields on sovereign debt of countries geographically close to the crisis in Ukraine offer a good indicator of whether markets fear a wider conflict.

U.S. Fed could start normalizing monetary policy, says India’s former central bank chief
February 23, 2022 | CNBC: Squawk Box Asia
Raghuram Rajan, a finance professor at Chicago Booth, discusses the Russia-Ukraine crisis and says the U.S. Federal Reserve is likely to “dial down” talk of more aggressive moves.

Go slow to go fast: A disciplined approach to growth
February 18, 2022 | Crain’s Chicago Business
“I think many businesses would benefit from going slower,” says Jamie Shah, an entrepreneur-in-residence at the Polsky Center. “Consider expanding into one less market, releasing one less product feature and borrowing a little less. This will give you the time and energy to be able to execute with excellence.”

Fed officials firm up plans for a swift pullback of economic help.
February 22, 2022 | The New York Times
At Booth’s recent U.S. Monetary Policy Forum, economists and policy makers discussed whether a series of rate increases are warranted.

Corporate pricing is boosting inflation—but we’re still buying
February 20, 2022 | VOX
According to survey of economists by Booth’s Initiative on Global Markets, 67 percent disagreed that dominant corporations raising prices is a significant factor behind higher U.S. inflation.

Pandemic’s economic impact is easing, but aftershocks may linger
February 19, 2022 | The New York Times
Chicago Booth’s Austan Goolsbee argued early in the pandemic that the best way to revive the economy was to get the pandemic itself under control.

The making of a new government-funded moonshot model
February 17, 2022 | Bloomberg Businessweek
“If venture capital didn’t take risks, it would never get a hundred-fold return,” says Chicago Booth’s Randall Kroszner.

Bury the U.S.-China trade agreement
February 16, 2022 | Project Syndicate
“The main losers from higher U.S. tariffs on imports from China are American consumers and firms that rely on Chinese inputs,” suggests Chicago Booth’s Chang-Tai Hsieh.

5 better ways to get stuff done, according to the science of motivation
February 16, 2022 | Fast Company
Chicago Booth’s Ayelet Fishbach shares five key insights from her new book, Get It Done: Surprising Lessons from the Science of Motivation.

In a remote world, HR departments are rushing to make onboarding feel more human
February 15, 2022 | Fortune
“If you look at onboarding, not as logistics, but as welcoming another person into a new space . . . it changes the way that you roll that experience out, and therefore changes the way that someone feels welcomed when they get to the organization,” says Chicago Booth’s Felicia Joy.

The pandemic-era small business boom
February 15, 2022 | Axios
“People are looking for working arrangements that are more suitable to how they want to live their lives,” Chicago Booth’s Steven Davis says of people who are quitting their jobs as part of “the Great Resignation.”

If your wife makes more than you do, read this
February 14, 2022 | The Washington Post
An analysis by Chicago Booth’s Marianne Bertrand and Emir Kamenica found that there are fewer marriages in places where women are more likely to outearn men.

Confused about how worried to be about the pandemic? You’re not alone
February 14, 2022 | NPR: All Things Considered
Chicago Booth’s Ayelet Fishbach weighs in on the confusion many people continue to experience during the pandemic. (Interview starts 1:15.)

Fintech executives call for better industry data on diversity
February 14, 2022 | Financial Times
A paper coauthored by Booth PhD candidate Benedict Guttman-Kenney estimates that between 40 and 50 percent of UK BNPL is on credit cards, which would cancel out the payment program’s interest-free appeal.

‘Survival mode’: Inflation falls hardest on low-income Americans
February 13, 2022 | The Washington Post
By the second half of 2021, households earning less than $30,000 a year consistently faced higher inflation than those earning more than $100,000 a year, according to a working paper by Chicago Booth’s Michael Weber.

The economics behind NFTs—why celebrities such as Justin Bieber, Gwyneth Paltrow and Eminem pour millions into Bored Apes
February 13, 2022 | South China Morning Post
Chicago Booth’s Canice Prendergast suggests that blockchain and NFTs are very useful when you cannot rely on the provider of a good to act in an appropriate way.

Inflation may have already peaked. The Fed needs to step gingerly.
February 11, 2022 | The New York Times
“Forecasting the future of inflation right now is hazardous,” says Chicago Booth’s Michael Weber. “It’s just too complex.”

Americans are still stocking up on groceries
February 7, 2022 | The Daily Wire
“Psychologically, the cost of underconsumption appears higher than overconsumption,” says Ayelet Fishbach, professor of behavioral science and marketing at Chicago Booth.

Two former White House economists discuss disconnect between Americans and the Biden economy
February 7, 2022 | CNBC: Squawk Box
Chicago Booth’s Austan Goolsbee breaks down why so many adults disapprove of the Biden economy despite substantial growth and a significant drop in the unemployment rate.

The U.S. is considering a radical rethinking of the dollar for today’s digital world
February 6, 2022 | NPR
“There will be legitimate questions about how much the government knows about each individual, and also, how much it can act to restrain activities by individuals,” Chicago Booth’s Raghuram Rajan says of a potential central bank digital currency.

How China’s communist officials became venture capitalists
February 6, 2022 | Bloomberg Markets
Chang-Tai Hsieh and his co-authors estimate that partnerships between entrepreneurs and local governments account for the bulk of growth in China’s economy over the last decade.

Strong U.S. jobs numbers vindicate Biden’s economic record, supporters say
February 5, 2022 | Financial Times
“If Omicron did not lead to the kind of job loss that previous waves created, then maybe it is conceivable that by the summer we could be back to something like normal,” suggests Chicago Booth’s Austan Goolsbee.

Chicago Booth to boost nonprofits in BIPOC communities
February 4, 2022 | Poets & Quants
The new Golub Capital Social Impact Lab at Chicago Booth is aimed at helping nonprofit leaders better serve communities of color, says George Wu, professor of behavioral science and faculty director for the new lab.

Economy experts react to ‘flat-out great’ jobs report
February 4, 2022 | Fox Business
“Overall it’s very positive, especially labor-force participation kicking up,” says Chicago Booth’s Austan Goolsbee of the January jobs report. “By the end of the summer, we could be, in the job market, fully back to where we were before the pandemic began.”

‘Blockbuster’ jobs report suggests Fed can raise rates without tanking the economy, Austan Goolsbee says
February 4, 2022 | CNN Business
January’s shockingly strong jobs report suggests the U.S. economy is healthy enough to withstand the Federal Reserve’s plans to raise interest rates in the coming months, suggests Chicago Booth’s Austan Goolsbee.

We’re starting to see a little bit of an ECB pivot on inflation, says former Fed Governor Kroszner
February 3, 2022 | CNBC: Squawk on the Street
Randall Kroszner, former Federal Reserve governor and deputy dean of Chicago Booth, discusses upcoming nominations for the Federal Reserve, recent international central bank news, and more.

Analysis: Ukraine may prove wild card for inflation-obsessed markets
February 3, 2022 | Reuters
Chicago Booth’s Randall Kroszner says Ukraine could prove a geopolitical test case for markets. “That’s one of the wildcards that we certainly haven’t had in recent years—moving from a cold war to a hot war that could involve Russia and NATO,” he said.

Not feeling it on Valentine’s Day, Tampa Bay? A company lets you ditch the ads
February 2, 2022 | Tampa Bay Times
Chicago Booth’s Ayelet Fishbach says allowing customers to opt-out of certain types of ads is a great practice. “If I feel that a company knows me and can support my goals, I like them more.”

Meet Chicago Booth’s MBA class of 2023
February 2, 2022 | Poets & Quants
At Chicago Booth, second-year students go out of their way to make life easier for first-years. This pay-it-forward culture is a tradition that’s handed down between classes as an act of gratitude.

Low expectations for jobs report
February 1, 2022 | Bloomberg: Balance of Power
Chicago Booth’s Austan Goolsbee discusses what to expect in January’s jobs numbers.

The state of venture capital investments in female founders: change is in the wind
January 31, 2022 | Forbes
VCs who increased their proportion of female partner hires by 10% averaged a nearly 10% increase in profitable exits, writes Chicago Booth’s Waverly Deutsch.

Consumer’s confidence drags while economy takes a roller coaster ride
January 31, 2022 | Marketplace Morning Report
“We are on a roller coaster right now—it’s the omicron roller coaster or the inflation roller coaster. We don’t really know what will happen tomorrow,” says Chicago Booth’s Ayelet Fishbach.

For the greater good, neither the private nor public sectors can do it alone
January 27, 2022 | Crain’s Chicago Business
Professor Robert Gertner and James Carmichael, MBA ’10, AM ’10, have been working on a new Booth course, “Perspectives in Capitalism,” to guide current MBA candidates to critically examine the relationship between markets, the state, the individual, and values.

U.S. Fed’s ‘tap dance’ around balance sheet cut probably due to lack of consensus: Ex-Fed governor
January 27, 2022 | CNBC: Squawk Box Asia
Randall Kroszner, deputy dean at Chicago Booth and former U.S. Federal Reserve governor, says there are probably many different views on “how quickly and in what form” the balance sheet should be reduced.

Federal Reserve is a ‘prisoner’ of its new framework, Rajan says
January 26, 2022 | Bloomberg: Daybreak Asia
Raghuram Rajan, professor of finance at Chicago Booth and former governor of the Reserve Bank of India, discusses the Federal Reserve’s policy.

Is the Great Resignation overblown?
January 26, 2022 | The New York Times
In periods of financial stress, troubled banks are like the ancient mariner, argues a new working paper from Chicago Booth’s Raghuram Rajan.

ECB needs to prepare for a policy shift, ex-Fed official says
January 26, 2022 | Bloomberg
The European Central Bank should be preparing for a shift in monetary policy now to prevent the need for more aggressive action later that leads to financial-market turmoil, suggests Chicago Booth’s Randall Kroszner.

As food costs rise in Chicago, viral burrito incident highlights who really bears the brunt of inflation
January 25, 2022 | Chicago Tribune
Michael Weber, a professor of finance at Chicago Booth, found in a recent study of U.S. households that the impact of food inflation is substantially higher for low-income people who don’t generally have the option to seek out less expensive alternatives.

India’s economy has some bright spots, a number of dark stains: Raghuram Rajan
January 23, 2022 | Hindustan Times
“We need to do more to prevent a K-shaped recovery, as well as a possible lowering of our medium term growth potential,” Chicago Booth’s Raghuram Rajan said of the Indian economy.

The U.S. refuses to fall in love with electric cars
January 21, 2022 | WIRED
Chicago Booth’s Pradeep Chintagunta says electrical vehicles face several significant technical, economic, and social barriers to adoption in the United States.

Inflation hits 7.5% in Midwest; surging consumer prices ‘disastrous’
January 19, 2022 | Chicago Tribune
Increased prices may prompt consumers to hit the brakes on discretionary spending, dealing another blow to industries already hurt by the pandemic, suggests Chicago Booth’s Michael Weber.

Work from home is becoming a permanent part of how jobs are done
January 18, 2022 | Bloomberg Businessweek
Work from home has held steady at just over 40% since May 2021, according to research by Chicago Booth’s Steven Davis.

State Farm hiring 3,400 employees, including some fully remote workers
January 18, 2022 | CBS 2 Chicago
“Employers are gradually becoming more accustomed or comfortable with the notion that many of their employees are going to work from home part of the week,” said Chicago Booth’s Steven Davis.

Responsible business education awards: full shortlists
January 18, 2022 | Financial Times
Chicago Booth professor Sendhil Mullainathan and alumnus George Boghos, ’18, are both recipients of The Financial Times Responsible Business Education Awards. Mullainathan won for his paper “Dissecting racial bias in an algorithm used to manage the health of populations.” Boghos won for his startup, Autism in Motion Clinics.

Alumni change maker award: passion meets purpose
January 18, 2022 | Financial Times
Booth alumnus George Boghos, ’18, won the Financial Times’ alumni change maker award, which celebrates MBA alumni who are tackling society’s challenges head on. Boghos’s company, Autism in Motion Clinics, provides behavioral therapy for children with autism and focuses on underserved rural populations.

Academic research award: smart ideas with real-world impact
January 18, 2022 | Financial Times
Booth’s Sendhil Mullainathan won the Financial Times’ academic research award for discovering large-scale racial bias in the algorithms used by insurers to predict millions of U.S. patients’ healthcare needs, and for his and his coauthors’ efforts to combat this bias.

‘The virus is the boss’: Talking COVID economic realities on the latest A.D. Q&A podcast
January 18, 2022 | Crain’s Chicago Business: A.D. Q&A
Chicago Booth’s Austan Goolsbee discusses inflation worries, next steps from the Federal Reserve, and the future of cities.

There will be a slowdown in this quarter’s activity: Raghuram Rajan
January 17, 2022 | The Economic Times
Raghuram Rajan discusses economic recovery in India, inflation in the U.S., and global growth in 2022.

How business schools can nurture tomorrow’s impact investors
January 17, 2022 | Financial Times
Some leading business schools, including Chicago Booth, Wharton, and Harvard, are working with investors to research the characteristics and drivers of success in impact investing.

Feeding two birds with one scone
January 15, 2022 | The Boston Globe
The idea that healthy foods are less likely to taste good is actually a cognitive bias, suggests Chicago Booth’s Ayelet Fishbach. “If you undo the bias … you’ll have a better relationship with this food and, ultimately, you’ll eat more healthily.”

A pandemic is no time to make little plans
January 14, 2022 | | Crain's Chicago Business
“In a crisis, it’s easy to focus on day-to-day operations, but the entrepreneurs who will win big during this pandemic are ones who recognize the long-term value of each customer and make grand plans to retain them,” says Chicago Booth’s Dan Sachs.

Price controls set off heated debate as history gets a second look
January 13, 2022 | The New York Times
In a recent survey by Booth’s Initiative on Global Markets, 61 percent of economists said that price controls similar to those imposed in the 1970s would fail to “successfully reduce U.S. inflation over the next 12 months.”

Balance of Power
January 13, 2022 | Bloomberg
Chicago Booth’s Randall Kroszner lends insight on the Fed and inflation. (Segment begins 3:30.)

CPS lunchroom workers struggle with food shortages, COVID-19 fears: ‘You don’t know how stressful it is to come to work’
January 13, 2022 | Block Club Chicago
The pandemic has disrupted the global supply chain, leading to shortages and price increases, said Chicago Booth professor Anna Costello. “We should expect [a recovery is] at least two years out, perhaps more,” she said.

How much should you fret about rising federal debt?
January 12, 2022 | The New York Times
Amir Sufi of Chicago Booth said the government can get in trouble even if the interest rate remains below the economy’s growth rate.

Elizabeth Holmes is guilty. What about her investors and board members?
January 12, 2022 | Crain’s Chicago Business
Chicago Booth’s James Schrager suggests that the CEOs, private investors, venture capitalists, and board members working with Theranos made clearly avoidable poor decisions.

Fed rate hikes starting in March a ‘high probability’: Fmr. Federal Reserve governor
January 11, 2022 | Fox Business Live
Chicago Booth’s Randall Kroszner weighs in on Federal Reserve chair Jerome Powell’s intentions to raise interest rates.

The importance of eating together
January 11, 2022 | Psychology Today
“Meals are inherently a social activity,” says Chicago Booth’s Ayelet Fishbach. “Most of us would rather eat with others than alone, and with good reason: Sharing similar foods forms a social connection.”

The ‘Great Resignation’ continues, plus its impact on journalists of color at NPR
January 7, 2022 | WBEZ: Reset with Sasha-Ann Simons
Chicago Booth’s Matt Notowidigdo discusses why people continue to switch jobs at such a high rate and what it says about the labor market going forward.

Why young adults are delaying parenthood
January 7, 2022 | The Wall Street Journal
Chicago Booth’s Abigail Sussman says that for people looking to make huge transitions, the expectation of normalcy in the wider world can be reassuring—and without that assurance, it’s easy to revert to inaction.

How the Theranos verdict reverberates in Chicago
January 5, 2022 | Crain’s Chicago Business
“With more money available than ever, there is a lot of pressure on VCs to make decisions quickly, before they can do thorough due diligence,” says Chicago Booth’s Steve Kaplan.

Ethereum has a gas problem
January 5, 2022 | Morning Brew
The concept of gas fees highlights a major difference between cryptocurrency transactions and those in “classic markets,” suggests Chicago Booth’s Anthony Lee Zhang.

New research method reveals how businesses can run better experiments
January 5, 2022 | Phys.org
Chicago Booth’s Panos Toulis and coauthors designed a new method that illuminates how interference affects the results of randomized control trials. This will allow social and behavioral researchers to better account for interference across a broad range of applications.

7 trends that will shape the grocery industry in 2022
January 4, 2022 | Grocery Dive
Investing in operational efficiencies could allow retailers to offer higher salaries and better benefits to their workforce, boosting longevity and satisfaction, said Nicole DeHoratius, a professor of operations management at Chicago Booth.

‘Get It Done’ review: A mindset for motivation
January 3, 2021 | The Wall Street Journal
“Get It Done,” a new book from Chicago Booth’s Ayelet Fishbach, has two main objectives: to help readers set the right goals, and to offer research-based insights into how to better achieve them.

How the science of motivation helps with New Year’s resolutions
January 1, 2022 | Financial Times
Ayelet Fishbach, a professor of behavioral science at Chicago Booth, discusses the best way to set goals and stick to them.