PODCAST · news
The Two-Handed Economist
by Rice University’s Baker Institute for Public Policy
“The Two-Handed Economist” delivers timely analysis of economic news from John Diamond, director of the Baker Institute Center for Tax and Budget Policy. Each week, John will dive deep into the latest policy developments — mostly at the federal level, but with insights now and again into Texas and Houston finance as well.Why a two-handed economist? President Harry Truman famously asked for a one-handed economist, tired of hearing, “On the one hand, this,” and “On the other hand, that.” John embraces the complexity that a one-handed economist might shy away from, explaining how it all adds up for consumers, businesses, and policymakers. This show is for anyone looking for a clear-eyed, common-sense perspective on economic policy issues.
Episodes
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15: Is America Saving the Yen — or the US Treasury Market?
Japan made financial headlines last week after spending over $50 billion to defend its currency. Even more noteworthy was the U.S. response: For the first time since 1998, the U.S. Treasury intervened to help strengthen the yen, selling euros in the process. In the latest episode of “The Two…
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14: The Future of Social Security
The annual Social Security Trust Fund report, published June 9, 2026, presents a troubling outlook for the future. If no action is taken, the trust fund will be depleted, requiring a 22% reduction in scheduled retirement benefits beginning in 2032. In this episode of “The Two-Handed Economist,”...
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From 'Baker Briefing:' How the Iran War Is Hitting Americans at Home
As conflict with Iran intensifies, economic consequences are beginning to extend beyond the battlefield, from rising energy prices to growing concerns about inflation and household costs. Ambassador David M. Satterfield and John W. Diamond, director of the Baker Institute Center for Tax and…
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From 'Baker Briefing:' Tax Day Edition — Debt, Defense, and Economic Uncertainty
It’s Tax Day, and this episode steps back from the headlines to look at the forces shaping the U.S. fiscal and economic outlook. From the latest federal budget proposals and rising defense costs to updated projections from the Congressional Budget Office (CBO) and the Treasury Department on...
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13: The Federal Budget’s March Madness
If the Federal Government was scaled down to a household budget, it would make $52,000 a year and be spending $73,000 – a surplus of $21,000 that would quickly put the average American in debt. In this episode of “The Two-Handed Economist,” John Diamond dives into the current financial state of…
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From 'Baker Briefing': Supreme Court Tariff Decision: What Comes Next for Trade, Markets, and Manufacturing
What happens to the economy when the U.S. Supreme Court overturns a major Trump administration tariff strategy? On Feb. 20, 2026, the Court struck down sweeping tariffs imposed under emergency authority, forcing a rapid policy shift and raising new questions about trade, markets, and the federal...
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From 'Baker Briefing': Did Trump’s Tariffs Work? What the Economic Data Shows
The Trump administration has touted its tariff strategy as a historic economic success, citing record stock market highs, falling trade deficits, and “virtually no inflation.” But what do the numbers actually show? In this episode of “Baker Briefing”, Ambassador David Satterfield sits down with...
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12: Shutdown Economics, AI Layoffs, and Trade Deals in Asia
John Diamond argues that the government shutdown has become an economic tax on ordinary Americans. Meanwhile, the Federal Reserve is heeding warning signals from the labor market as artificial intelligence and automation rewrite the rules for major industries, prompting companies like Amazon…
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11: Mounting Shutdown Costs and a Knife’s Edge Economy
As the government shutdown drags on, the economic and political costs are mounting. John W. Diamond explains the impacts for workers, markets, and economic policymaking. Meanwhile, the U.S. economy is still expanding. But the tug-of-war between demand and supply shocks — notably, declining...
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10: Why Government Shutdowns Don’t Work — and Keep Happening Anyway
A congressional standoff over Affordable Care Act premium subsidies has triggered another government shutdown. John explains how we got here, why shutdowns aren’t effective policy tools, and what these recurring episodes reveal about budgetary and policymaking dysfunction in Washington. Then, he...
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9: High-Skilled Immigration and the Future of US Competitiveness
President Trump’s new $100,000 fee on H‑1B visa petitions has catalyzed a fresh debate: will it protect U.S. workers — or hobble innovation? In this episode, John Diamond explores both sides. He digs into how H‑1Bs shape firm behavior, labor markets, and the role of startups versus incumbents....
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8: The Federal Budget Process Is Broken
John Diamond explains why a weakening labor market is pushing the Federal Reserve to cut the federal funds rate (even in the face of sticky inflation). He also unpacks the looming government shutdown — and why, unless Washington reforms its budget process, we should expect bigger deficits and...
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7: Trump Tariff Ruling, the De Minimis Exemption, and an Economy Losing Steam
John Diamond breaks down three major developments. First, a federal appeals court has ruled that President Donald Trump unlawfully invoked the International Emergency Economic Powers Act to impose his sweeping tariffs. Second, a new executive order from Trump eliminates the de minimis exemption,...
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6: Should the Federal Reserve Cut Interest Rates?
The Federal Reserve’s dual mandate — keeping prices stable and achieving maximum employment — is being tested. At its Sept. 17 meeting, the central bank must decide whether or not to cut interest rates, a decision complicated by persistent inflation, a cooling labor market, and an escalating...
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5: The One Big Beautiful Bill Act Kicks the Fiscal Can Down the Road
Last month, President Donald Trump’s massive tax bill passed the Republican-led House in a 215-214 vote. The White House has said the bill won’t add to the federal deficit, while the nonpartisan Congressional Budget Office projects that the bill would add to the debt by approximately $2.3…
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4: UK and China Trade Deals, the GOP’s ‘One Big, Beautiful’ Tax Bill, and Trump’s Plan to Slash Prescription Drug Costs
John Diamond explains why President Donald Trump’s recently announced trade deal with the United Kingdom is a net negative for the U.S. and why despite an additional trade deal with China, we’re still worse off than we were five months ago. Then, he reviews the progress of Republicans’ “one big,...
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3: What Congress Should Consider As It Weighs TCJA Extensions
John Diamond outlines what Congress should consider as it prepares to extend key provisions of the 2017 Tax Cuts and Jobs Act that expire at the end of 2025. He covers: how tweaks to the tax system can encourage U.S. companies to return production from overseas; why it’s important to incentivize...
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2: The GDP Drop Isn’t the Real Warning Sign
The U.S. economy shrank by 0.3% in the first quarter of 2025, ending nearly three years of steady growth. John Diamond breaks down the latest GDP report and explains why the headline negative number isn’t the most important story — and what warning signals we should really be paying attention to....
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1: The Damage of Trump’s Tariffs, Explained
In the first episode of “The Two-Handed Economist,” John Diamond — director of the Center for Tax and Budget Policy at Rice University’s Baker Institute for Public Policy — dives into the economic fallout from the Trump administration’s sweeping new tariffs. He unpacks the market turmoil, rising...
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ABOUT THIS SHOW
“The Two-Handed Economist” delivers timely analysis of economic news from John Diamond, director of the Baker Institute Center for Tax and Budget Policy. Each week, John will dive deep into the latest policy developments — mostly at the federal level, but with insights now and again into Texas and Houston finance as well.Why a two-handed economist? President Harry Truman famously asked for a one-handed economist, tired of hearing, “On the one hand, this,” and “On the other hand, that.” John embraces the complexity that a one-handed economist might shy away from, explaining how it all adds up for consumers, businesses, and policymakers. This show is for anyone looking for a clear-eyed, common-sense perspective on economic policy issues.
HOSTED BY
Rice University’s Baker Institute for Public Policy
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Frequently Asked Questions
How many episodes does The Two-Handed Economist have?
The Two-Handed Economist currently has 19 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is The Two-Handed Economist about?
“The Two-Handed Economist” delivers timely analysis of economic news from John Diamond, director of the Baker Institute Center for Tax and Budget Policy. Each week, John will dive deep into the latest policy developments — mostly at the federal level, but with insights now and again into Texas and...
How often does The Two-Handed Economist release new episodes?
The Two-Handed Economist has 19 episodes. Check the episode list to see recent publication dates and frequency.
Where can I listen to The Two-Handed Economist?
You can listen to The Two-Handed Economist on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts The Two-Handed Economist?
The Two-Handed Economist is created and hosted by Rice University’s Baker Institute for Public Policy.
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