Chicago Booth in the News

Expert thoughts on Capital One Venture X 
November 20, 2024 | WalletHub
Chicago Booth’s Thomas Talhelm offers some helpful points to consider when deciding on a new credit card. 

Curb your debts to prepare for the next pandemic, Rajan tells US
November 19, 2024 | Bloomberg
The US and its peers can’t leave high public debt to fester in a world that is prone to more pandemics than before, says Chicago Booth’s Raghuram Rajan. 

Powell’s wait-and-see on Trump policies is a switch from 2016
November 19, 2024 | Bloomberg
“They are going to be on a shallower path … as the economy gets a boost,” says Chicago Booth’s Randall Kroszner of interest rates in the short run. 

Tariffs and taxes are not very inflationary
November 19, 2024 | Financial Times 
In a September poll by Chicago Booth’s Kent Clark Center for Global Markets, 95 percent of economists agreed that consumers bear a substantial portion of the tariffs imposed by their country. Booth’s Raghuram Rajan voiced a related concern in his acceptance speech for the Bancor award in economics, saying there is a “misdirected anger at trade” in the US. 

America Inc is hoping for a tax bonanza. It may be disappointed
November 14, 2024 | The Economist
A recent study coauthored by Chicago Booth’s Eric Zwick finds that Trump’s Tax Cuts and Jobs Act (TCJA) caused corporate-tax revenue to fall by two-fifths, while investment increased by 8-14 percent between 2017 and 2024.

Trump pledged more tariffs. We have no idea what they will do.
November 12, 2024 | The Washington Post
The neoliberal elite understand very clearly that we could be in for a tragedy,” says Chicago Booth’s Luigi Zingales of rising tariff concerns. “Having the biggest guy on the block start to play the bully isn’t a good thing.”

Are the Fed’s efforts to lower inflation stalling?
November 11, 2024 | NPR Marketplace There are fewer openings and fewer people quitting, “and that’s something that has the Fed convinced we’re moving in the right direction,” says Chicago Booth’s Raghuram Rajan of inflation. “It extends the period over which the Fed has to keep rates higher. In other words, while the Fed is cutting right now, it might have to cut at a slower pace.”

Patents signal positive impact of business school insights on innovation 
November 7, 2024 | Financial Times
Chicago Booth’s Hans Christensen, Valeri Nikolaev, and coauthors discovered two key factors that influence how lenders react to financial shocks: capital channel and learning channel. The former results in lenders tightening contract terms, while the latter leads to adjusted terms. 

Chicago Booth top school for research with most impact on management
November 7, 2024 | Financial Times
“I’m really thrilled,” says Chicago Booth dean Madhav Rajan of the Financial Times ranking the school highest among its international peers for producing resonant management research. “We want impact, to know it’s work we want to support.”

The AI boom: How long will it last?
November 3, 2024 | CommonWealth Magazine
“Can this growth last amid OpenAI’s mounting losses and fierce competition, or will Taiwan’s tech giants face an uncertain future,” asks Chicago Booth’s Chang-Tai Hsieh, reflecting on the longevity of AI technologies.

To meet big goals, think small: Focus on the incremental steps that are in your control
November 1, 2024 | New York Times
To set effective goals, Chicago Booth’s Ayelet Fishbach recommends focusing on the work you do to set yourself up for success, rather than only focusing on the outcome.

Democrats braced for jobs report blow ahead of election
October 31, 2024 | Financial Times
Chicago Booth’s Raghuram Rajan said he expected few specifics from Fed chair Jay Powell’s post-meeting press conference on what comes after next week’s decision. “There are simply too many uncertainties.”

How do U.S. presidential elections affect the economy and the stock market?
October 27, 2024 | The Conversation
Research by Chicago Booth’s Lubos Pastor and Pietro Veronesi finds that average growth in gross domestic product (GDP) was 4.86% under Democratic presidencies and 1.7% under Republican presidencies between 1927 and 2015.

Wages have outpaced inflation. But not for everyone.
October 28, 2024 | The New York Times
On average, pay has risen faster than prices in recent years. But the overall picture is complicated. “When I hear smart people talk to me about how people are doing better, I say: What is the trend?” said Chicago Booth’s Erik Hurst. “Do you think everybody having zero wage growth is the normal trend?”

Entrepreneurship through acquisition: MBAs’ pathway to business ownership & growth
October 28, 2024 | Poets & Quants
Chicago Booth’s Brian O’Connor and Mark Agnew explore the reasons behind the rise of entrepreneurship through acquisition (ETA), how Chicago Booth’s ETA program is shaping this trend, and the impact this entrepreneurial model is having on both businesses and the economy.

The return-to-office push feels real this time. The numbers tell a different story.
October 24, 2024 | Crain’s Chicago Business
According to Chicago Booth’s Michael Gibbs, if companies do not bring workers back to the office, “the intangibles are going to suffer over the long run.” 

How to manage politics in the workplace
October 24, 2024 | The Economist
A study by Chicago Booth’s Emanuele Colonnelli and his co-authors finds that private-sector business owners in Brazil are substantially more likely to employ workers who belong to the same political party.

Make critical decisions now for when your business takes off later
October 21, 2024 | Crain’s Chicago Business
Chicago Booth’s CJ Przybyl advises entrepreneurs to think through their backend infrastructure early on so they are positioned for success when they’re ready to take their business to the next level.

The next big career track at business schools: Family offices
October 21, 2024 | CNBC.com
Top business schools, including Chicago Booth, are tapping into the family office boom, with a growing number of programs and courses aimed at training the next generation of family office leaders.

With a $26 hourly wage, Well-Paid Maids wants to inspire other companies to pay workers more
October 18, 2024 | Chicago Sun-Times
“I’ve seen evidence that the pandemic has permanently shifted the economy towards greater competition for low-wage workers,” said Chicago Booth’s Matthew Notowidigdo about Well-Paid Maids’ business model. “I expect more and more companies to move in this direction in the future, largely out of economic necessity.”

For markets, AI efficiency may bring volatility
October 18, 2024 | Reuters
According to research from Chicago Booth’s Maximilian Muhn, Valeri Nikolaev, and PhD student Alex Kim, investors may be able to deliver higher cumulative returns over time by following investment signals from simple ChatGPT-based analysis.

What makes celebrity endorsements effective?
October 17, 2024 | BusinessBecause
“A celebrity offers a connection with the product, and that connection can lead to trust and consideration on the audience’s part,” says Chicago Booth’s Tom Hafen about the effectiveness of celebrity endorsements. “A strong relationship with the celebrity can result in a strong relationship with the product.”

Billing for patient messages may have negative consequences, analysis suggests
October 14, 2024 | MedPage Today
According to Chicago Booth professor Matthew Notowidigdo, billing patients for patient portal messaging services would likely suppress patient use based on the law of demand.

Art meets commerce at business school
October 13, 2024 | Financial Times
Chicago Booth’s Canice Prendergast discusses acquiring new pieces for the school’s art collection. “One of the challenges is not getting locked into a particular perspective,” he says. “What I’m afraid of is someone will say, at some point, that this was such an early 21st-century collection.” 

University of Chicago will offer first family-office course and summit in 2025
October 10, 2024 | Institutional Investor
It was “crystal clear that this was certainly a growing market, that it was underserved ... and that there was a real place for a major academic institution,” said Paul Carbone, AB ’83, cofounder and vice chairman at family investment firm Pritzker Private Capital, and a member of the University of Chicago Board of Trustees, about Booth’s newly announced Family Office Initiative.

How to know what someone is thinking & the amazing success story of LEGO
October 7, 2024 | Something You Should Know
Chicago Booth’s Nicholas Epley discusses the best techniques to help you know what someone is thinking.

Dog days: With plans for an aggressive expansion and an activist investor onboard, can Portillo’s grow while staying true to its roots?
October 1, 2024 | Chicago Tribune
According to Chicago Booth’s Steven Kaplan, the idea that private equity degrades the quality of Portillo’s offerings is misguided. “Their incentive is to grow the business and make it better,” he said.

AQR’s Asness, Liew donate $60 million to University of Chicago
October 1, 2024 | Bloomberg
Chicago Booth alumni Clifford Asness, MBA ’91, PhD ’94, and John Liew, AB ’89, MBA ’94, PhD ’95, made a gift of $60 million to the school’s new Master in Finance Program, which will be renamed in their honor.

Raghuram Rajan wants India to do more to create jobs and boost manufacturing
September 26, 2024 | The Economic Times
Chicago Booth’s Raghuram Rajan believes that India has done well in areas like infrastructure in the last 10 years, but needs to do more in other sectors to boost local manufacturing and job creation.

Voters love the policies that economists love to hate
September 21, 2024 | The Wall Street Journal
“When you put a tariff on something artificially, you’re going to make things more expensive, and if it’s an input, like steel for example, then you’re going to make the downstream companies that are using steel less competitive,” said Chicago Booth’s Steven Kaplan.

PE firm’s many roles attract scrutiny as car parts maker seeks bankruptcy
September 19, 2024 | Financial Times
According to Booth’s Steven Kaplan, the risks of recent continuation vehicles “are that you are often putting more leverage on the company with floating interest rates.”

U.S. goes big with first interest rate cut in four years
September 18, 2024 | BBC
“One quarter of a percentage point one way or another is not going to break the U.S. economy,” Booth’s Randall Kroszner asserts. What matters, he says, is the course the Federal Reserve will take for the rest of the year as well as long term.

U.S. Federal Reserve cuts benchmark interest rates by 50 basis points
September 18, 2024 | Crowdfund Insider
Chicago Booth’s Michael Weber notes that though the rate cut will go unnoticed by most consumers, the Fed’s decision means more for the future. “The outlook on where the Fed is ultimately heading with interest rates is what markets should be focused on, as this will tell us where the U.S. and indeed the global economy is headed,” he says.

The path ahead for rate cuts
September 17, 2024 | CNBC: Money Movers
Chicago Booth’s Randall Kroszner suggests it’s likely the U.S. Federal Reserve will cut rates by 50 basis points due to the economy slowing.

Trump’s latest tax pandering reveals a dismal debate on the debt
September 15, 2024 | The Washington Post
In a co-authored proposal, Booth’s Eric Zwick argues that adopting a 1997 tax code could raise trillions in additional revenue over a decade. 

Kamala Harris gets good news from economists: new survey
September 14, 2024 | Newsweek
Economists surveyed by Booth’s Kent A. Clark Center for Global Markets weigh in on which U.S. presidential nominee has the best economic agenda.

U.S. economy is heading for soft landing, FT survey says
September 14, 2024 | Financial Times
A survey by Booth’s Kent A. Clark Center for Global Markets estimates that GDP growth will be 2.3 percent in 2024 and 2 percent in 2025.

U.S. incomes climbed last year, Census Bureau says
September 10, 2024 | The Wall Street Journal
Booth’s Erik Hurst says the median income of U.S. households is still well below where it was before the COVID-19 pandemic.

Meet the MBA class of 2026: Montgomery Miller, University of Chicago (Booth)
September 10, 2024 | Poets & Quants
Incoming Full-Time MBA student Montgomery Miller reflects on the uniquely flexible curriculum, entrepreneurial focus, welcoming community, and other factors that drew him to Booth.

How to master small talk at work
September 4, 2024 | The Washington Post
“Social interaction creates anxiety in all of us,” Chicago Booth’s Nicholas Epley says. “You just can’t see it in others, so you think you feel it more.”

Will Oasis backlash force a reckoning for the ticket industry?
September 4, 2024 | Financial Times
Booth’s Jean-Pierre Dubé says that the classic sunk cost fallacy led many Oasis fans to buy reunion tour tickets at an inflated cost: “They had already invested so much time and effort into the buying process.”

Art 50 2024: directors and curators
September 3, 2024 | New City
Booth’s Canice Prendergast discusses the art collection he helped curate at the Harper Center in service of the school’s academic mission. “We use various ways, mathematics, statistics, language…to think about problems in the world,” he says. “The whole idea behind the collection is that artists are trying to do the same thing.” 

AI ‘surveillance pricing’ could use data to make people pay more
September 3, 2024 | Scientific American
“What’s frightening is that a company could know something about me that I had no idea they could find out and I would have never authorized,” Chicago Booth’s Jean-Pierre Dubé says, commenting on the use of AI and machine learning to track categories of user data that many people wouldn’t deliberately share. 

Does a masters in management plus an MBA add up?
September 2, 2024 | Financial Times
Starr Marcello, Booth’s Deputy Dean for MBA Programs, says a master in management equips students for an early entry into the business world, while an MBA prepares them for leadership roles.

Trump and Vance’s false and misleading rhetoric on tariffs
August 30, 2024 | The Washington Post
Several surveys from Booth’s Kent A. Clark Center for Global Markets suggest a broad agreement among economists that tariffs raise prices for American consumers.

Startups are hoping for a turnaround in funding
August 30, 2024 | NPR Marketplace
Chicago Booth’s Steven Kaplan says there’s a link between venture funding and interest rates, where one rises as the other falls.

How do corporate tax rate changes affect the economy?
August 30, 2024 | NPR Marketplace
“I view the consensus as that it has an effect on investment that is detectable in the data, but that effect is small compared to that direct effect on [government] revenues,” says Booth’s Erik Zwick, commenting on the impact that raising the corporate tax rate could have on the economy. 

Economist Eugene Fama: ‘Efficient markets is a hypothesis. It’s not reality’
August 30, 2024 | Financial Times
“When people ask me what I think about behavioral economics, I just say that all of economics is a behavioral science,” says Chicago Booth’s Eugene Fama. “The difference is whether you think the behavior is irrational or rational.”

Anil Kashyap on the two types of Fed balance sheet operations
August 29, 2024 | Bloomberg "Odd Lots" Podcast
Chicago Booth’s Anil Kashyap explains his proposal for the U.S. Federal Reserve, which includes a tool that can handle balance sheet operations for financial stability.

Labor market report will give certainty Fed’s at ‘turning point’ for rate cuts, says Booth’s Rajan
August 29, 2024 | CNBC Squawk on the Street
Booth’s Raghuram Rajan says he thinks the Federal Reserve needs to see a more serious economic slowdown before cutting interest at rates the market anticipates.

Do you have a case of the ‘September scaries?’
August 29, 2024 | The New York Times
While the looming fall season of work can feel daunting, Booth’s Ayelet Fishbach says, “People often feel that Monday is easier than Sunday. On Sunday, you were afraid of Monday. On Monday, you just do it.”

Pfizer follows Lilly with site selling directly to patients
August 27, 2024 | Bloomberg
Chicago Booth’s Pradeep Chintagunta says that Pfizer’s new telehealth portal, PfizerforAll, is an opportunity to show “Big Pharma isn’t necessarily bad pharma.” 

Central banks should raise the bar for intervention
August 25, 2024 | Financial Times
Booth’s Raghuram Rajan says that “economic stabilization may raise the chances of financial instability.”

You 2.0: the gift of other people
August 24, 2024 | NPR: Hidden Brain
Drawing on research and personal experience, Chicago Booth’s Nicholas Epley discusses the  transformative benefits of reaching out to others.

Very surprised if we aren’t at the beginning of sequence of rate cuts, says economist Anil Kashyap
August 23, 2024 | CNBC: Power Lunch
Rate cuts seem well warranted, Booth’s Anil Kashyap says, given the slowing of the economy, a strong-enough labor market, and trajectory of inflation that “looks relatively good.”

The luxury of ignorance
August 22, 2024 | The Times
When it comes to one’s self-image, research by Booth’s Nicholas Epley and his co-author demonstrates that people may be biased toward their own attractive traits.

Why don’t women use artificial intelligence?
August 21, 2024 | The Economist
A recent study co-authored by Booth’s Anders Humlum shows data of differing AI usage based on gender among Denmark’s software developers, teachers, financial advisers, and other professionals.

How Costco hacked the American shopping psyche
August 20, 2024 | The New York Times
Speaking to the “Costco effect,” a selling strategy that elicits unintended bulk buying, Booth’s Ayelet Fishbach says these purchases don’t feel like temptations to consumers. Instead, they feel like they’re getting a great deal.

Elon Musk’s Twitter takeover is now the worst buyout for banks since the financial crisis
August 20, 2024 | The Wall Street Journal
Chicago Booth’s Steven Kaplan says loans related to Twitter’s sale “have weighed on the banks for much longer than other hung deals we’ve seen.”

2024 MBA to watch: Ben Ferris, University of Chicago (Booth)
August 19, 2024 | Poets & Quants
Ben Ferris, ’24, dispels the myth that Booth students don’t like to have fun. “I went on two Random Walks – Cyprus and Spain – and can say for sure that Booth students know how to have a good time!”

You should be safeguarding your innovations
August 19, 2024 | Crain's Chicago Business
Narayan Subramanian of Chicago Booth’s Polsky Center shares his practical guide to intellectual property for entrepreneurs, including common challenges for small businesses.

Their student debt disappeared but their financial worries persist
August 17, 2024 | The Wall Street Journal
For typical borrowers whose student loans were canceled by the U.S. federal government, “the forgiveness is nice but not life-changing,” says Chicago Booth’s Constantine Yannelis.

Former Fed governor Randy Kroszner: people haven’t lost faith in the Fed
August 15, 2024 | Squawk Box Asia
Citing the potential risk of inflation rebound, Booth’s Randall Kroszner says that the Federal Reserve wants to be sure inflation is coming down before cutting interest rates.

Will ‘surveillance pricing’ help or harm consumers?
August 14, 2024 | NPR Boston: On Point
Chicago Booth’s Sanjog Misra says “we need to look at both sides” in considering the pros and cons of tailoring prices to consumers’ personal data.

A bipartisan data-privacy law could backfire on small businesses — two marketing professors explain why
August 12, 2024 | The Conversation 
In a co-authored piece, Booth’s Jean-Pierre Dubé explains that the American Privacy Rights Act to protect personal data could hurt small sellers and marginalized consumer groups. “The goal of privacy regulation should be to give consumers control of their data rather than to slow the flow of data for all.” 

2024 best & brightest executive MBA: John Austin, University of Chicago (Booth)
August 8, 2024 | Poets & Quants for Executives
John Austin, ’24, says that Booth’s Executive MBA Program allowed him to study abroad and develop a global network of classmates across campuses in Chicago, London, and Hong Kong. “The executive program fostered a tremendous sense of community that I did not see replicated in other programs,” he says.

Booth welcomes its first MiM & MiF cohorts — and opens applications for the next
August 7, 2024 | Poets & Quants
As Booth welcomes the inaugural cohorts of the Master in Management and the Master in Finance Programs, the next application cycle has now opened. The round one deadline for the MiM Program is October 10, and the single deadline for the MiF Program is January 9. Associate dean Donna Swinford says, “we are seeking recent college graduates who are passionate, academically strong, and eager to add to Booth’s culture while launching their careers in the always-evolving field of business.” 

What might economic policy look like under a Harris-Walz administration?
August 7, 2024 | Marketplace Morning Report
Chicago Booth’s Eric Zwick expects a possible Harris-Walz administration to be willing to sacrifice corporate rate tax cuts to bring back incentives, and to expand the child tax credit. 

The well-off people who can’t spend money
August 6, 2024 | The Atlantic
Chicago Booth’s Abigail Sussman says that spending habits are tied to some people’s identity, and that splurging can interfere with their self-perception.

Best metal credit cards
August 5, 2024 | WalletHub
As more banks advertise metal cards and reduce requirements for them, the risk is that the prestige factor will erode, says Booth’s Jean-Pierre Dubé.

Nearly 50 economists were asked how they feel about President Biden's 5% rent cap: this is what they had to say
August 1, 2024 | Benzinga
A poll conducted by the Clark Center finds that a majority of academic economists are opposed to Biden’s proposal to curb rent increases for corporate-owned properties. Booth’s Steven Kaplan states that “rent control reduces investment in both existing and new housing.”

Bloomberg talks: Raghuram Rajan
July 30, 2024 | Bloomberg
Recent data indicates that the Federal Reserve is moving in the direction of a “gentle cut” in September 2024, says Chicago Booth’s Raghuram Rajan.

5 ways Americans are using AI to manage their money
July 30, 2024 | Money
Evaluating an LLM’s predictions for a company’s future earnings, a study by Booth’s Alex Kim, Maximilian Muhn, and Valeri V. Nikolaev found that the technology outperformed human analysts.

2024 best & brightest executive MBA: Bingjie Li, University of Chicago (Booth)
July 30, 2024 | Poets & Quants for Executives
Bingjie Li, ’24 (XP-93), reflects on her reasons for choosing Booth, including the program’s emphasis on rigorous and logical thinking. “In a fast-changing world, having such a framework engraved in my mind helps me remain confident and calm to come up with ideas and solutions in all possible situations,” she says. 

Best & worst states for health care (2024)
July 29, 2024 | WalletHub
Chicago Booth’s Matthew Notowidigdo discusses health insurance plans and the impact of the COVID-19 pandemic on the healthcare workforce.

Your food is more expensive – are U.S. corporate profits to blame?
July 26, 2024 | The Guardian
U.S. food companies that hiked prices during the COVID-19 pandemic “were not profiteering,” says Booth’s Jean-Pierre Dubé. “They were being very short sighted, and as people start cutting cookies and other superfluous things out of their budget, those companies’ brands are going to suffer.”

Admissions director Q&A: Donna Swinford of Chicago Booth
July 25, 2024 | Clear Admit
Donna Swinford, an associate dean at Booth, shares what it’s like to be a Boothie, what you can expect from this year’s MBA application process, and some of her favorite aspects of the school.

The FTC is cracking down on surveillance pricing
July 25, 2024 | Fast Company
In their study using machine learning to personalize pricing, Booth’s Sanjog Misra and Jean-Pierre Dubé found that 67% of consumers paid lower prices.

India budget highlights main issues but doesn’t devote resources to them
July 23, 2024 | CNBC Squawk Box Asia
Booth’s Raghuram Rajan says India’s budget needs more investments in education, skilling and other areas that build human capital. 

Ask the experts: car insurance marketing
July 19, 2024 | WalletHub
Chicago Booth’s John J. McKinney says that national campaigns for car insurance are difficult because “the products are too complex and vary from state to state.”

How does having kids affect women’s pay?
July 18, 2024 | The Economist Money Talks Podcast
Discussing her research on the “motherhood penalty,” Booth’s Marianne Bertrand reports that women who start families earn about 50% less than men.

A remarkable school-choice experiment
July 16, 2024 | The Atlantic
Chicago Booth’s Christopher Campos shares insights from his study on the impacts of school-choice reforms within the public-school system.

How to scale the glass cliff
July 15, 2024 | Crain's Chicago Business
Kim Vender Moffat, investor-in-residence at Chicago Booth’s Polsky Center, shares strategies to proactively avoid or successfully scale the glass cliff, a phenomenon where women and minorities inherit authority positions during times of crisis. 

Why that hard conversation will probably go better than you think
July 11, 2024 | Psyche
Referencing his study on constructive confrontations, Booth’s Nicholas Epley suggests that when a person decides to confront someone, “you’d better do it in a way that actually enables connection.”

Prices fell in June for the first time since the start of the pandemic
July 11, 2024 | CNN Business
Chicago Booth’s Michael Weber says that the sticker shock from three years of inflation could leave a lasting impression on consumer behavior.

Fed risks ‘substantial slowing’ of economy: Kroszner
July 10, 2024 | Bloomberg Open Interest
The Federal Reserve “may err on the side of keeping rates high for maybe a little longer than would be perfect,” says Booth’s Randall Kroszner.

Post-vacation blues? Here’s how to cope
July 9, 2024 | Harvard Business Review
Chicago Booth’s Ayelet Fishbach discusses factors behind post-vacation work fatigue and strategies to manage it.

Is India the next economic superpower?: Raghuram Rajan / Former governor, Reserve Bank of India
July 8, 2024 | NHK World Japan
Addressing India’s rapid economic expansion, Chicago Booth’s Raghuram Rajan says he hopes the country can examine its growth path for employing the millions in its labor force.

Inflation outrage
July 8, 2024 | CNBC
Chicago Booth’s Jean-Pierre Dubé says that consumers have reached a “boiling point” with deceptive pricing and high inflation.

Amica insurance review
July 8, 2024 | WalletHub
When choosing car insurance, Booth’s Thomas Talhelm suggests using resources that rely on well aggregated, hard data, rather than personal recommendations.

Vista Equity in talks to hand over Pluralsight to creditors, sources say
July 3, 2024 | Reuters
Chicago Booth’s Steven Kaplan says the jury’s still out on how many cases will emerge like Pluralsight, Vista Equity’s declining educational software platform. “It’s too early to tell, but I think the bigger picture is that some buyout firms went very aggressive in 2020 and 2021, and in retrospect shouldn’t have,” he says.

Crystal ball economics
June 30, 2024 | Business Insider
Chicago Booth’s Jane Risen explains why customers may be willing to pay higher fees for psychic services. “If it’s too cheap, people might assume that it’s not good, that it actually isn’t effective,” she says. “In some ways, putting the price on it, making people pay for it, can be part of why people think that it could work.”

The most religious, and religiously diverse, places in America
June 28, 2024 | The Washington Post
Chicago Booth’s Devin Pope uses anonymous cell phone data to measure church attendance across the United States.

A new era of financial warfare has begun
June 25, 2024 | Foreign Policy
With $300 billion in Russian assets being inaccessible, “some central banks have started diversifying reserves a little more as a result, including into gold,” says Booth’s Raghuram Rajan.

260 McNuggets? McDonald’s ends A.I. drive-through tests amid errors
June 21, 2024 | The New York Times
Chicago Booth’s Alex Imas predicts that McDonald’s will watch from the sidelines as its competitors explore A.I. technology. “I think they are going to want to wait and make sure this thing is ready for commercial use,” he says.

How an operating system can help your small business break through barriers
June 17, 2024 | Crain’s Chicago Business
Alex Hodgkin, entrepreneur-in-residence at Chicago Booth’s Polsky Center, shares advice on how to improve small business operating systems to help overcome challenges and reinvigorate organizations.

Consortium welcomes its 4th member from the M7 in the last 4 years
June 11, 2024 | Poets & Quants
Chicago Booth will be the 25th member of the Consortium for Graduate Study in Management, effective July 1. The academic and business network partners with top-ranked MBA programs to increase the number of under-represented minorities in business education and corporate leadership.

In sweeping change, Biden administration to ban medical debt from credit reports
June 11, 2024 | ABC News
To address the root cause of America’s medical debt issue, more people need to enroll in adequate health care coverage on the front end, “rather than dealing with unpaid medical bills from lack of insurance or not generous enough insurance on the back end,” said Chicago Booth’s Matt Notowidigdo.

US Fed will cut rates just once this year, say economists
June 11, 2024 | Financial Times
More than half of the 39 academics that took part in the FT-Chicago Booth poll said that the Fed would only make one quarter-point cut this year. Almost a quarter forecast no cuts at all.

Rajan: A more democratic India
June 7, 2024 | Bloomberg: Wall Street Week
Chicago Booth’s Raghuram Rajan discusses what Narendra Modi’s narrow victory with a coalition government will mean for India’s economy and investability.

Road ahead for India post elections
June 4, 2024 | BNN Bloomberg: Trading Day
Chicago Booth’s Raghuram Rajan discusses the impact of India’s election results on the economy and stock market.

One person one price
June 4, 2024 | The American Prospect
“While it’s true some people are going to pay higher prices, I could vastly increase the set of people who are actually going to be able to buy,” says Booth’s Jean-Pierre Dube about the benefits of personalized pricing.

India election results
June 4, 2024 | Bloomberg Surveillance Podcast
Chicago Booth’s Raghuram Rajan shares his thoughts on India’s economic prospects.

India lost the manufacturing race to China. Here's why it could still succeed
June 4, 2024 | NPR Planet Money
Chicago Booth’s Raghuram Rajan discusses India's challenges and opportunities to become rich, why the manufacturing-led road that China paved may not be open to India, and the route he believes India should take instead.

This startup just won the New Venture Challenge’s biggest-ever prize: $1M
June 3, 2024 | Poets & Quants
FreshX, a startup which helps food companies and freight brokers easily book and manage cold chain transportation and storage, has won first place in Chicago Booth’s 28th annual Edward L. Kaplan, ’71, New Venture Challenge.

To fight another day: with guests Alex Imas & Mary Stockwell
June 3, 2024 | Choiceology with Katy Milkman
Chicago Booth’s Alex Imas discusses his research on risk-taking over time, and how mental choice bracketing impacts our decisions in the face of loss.

When to sell your stocks
May 30, 2024 | The Economist
Research from Chicago Booth’s Alex Imas finds that few investors reached their take-gain orders when they entered a trade, and they tended to cancel and blow through their stop-losses.

MBB consulting | What’s it like working at McKinsey, Bain and BCG?
May 29, 2024 | BusinessBecause
Chicago Booth alumna Rachel Enright shares her thoughts on working at the MBB consulting firms since graduating from business school.

These U.S. companies are best at cutting their emissions to fight climate change
May 29, 2024 | USA Today
With no national requirements for reporting carbon dioxide pollution, having more transparency and data about companies’ emissions is “incredibly important,” says Chicago Booth’s Christian Leuz.

AI ‘outperforms’ human financial analysts, according to new research
May 28, 2024 | Money
A new study from Chicago Booth’s Maximilian Muhn, Valeri Nikolaev and PhD student Alex Kim has found that large language models—a type of artificial intelligence called LLMs—are better at conducting financial analysis than humans.

India to stick to policy path even if Modi loses, Rajan says
May 27, 2024 | Bloomberg TV
Chicago Booth’s Raghuram Rajan says India’s economy can and should be growing faster.

The Indian election and the country’s economic future
May 24, 2024 | Project Syndicate
According to an op-ed by Booth’s Raghuram Rajan, if India remains committed to the current government’s development strategy, the economy could lose its momentum well before achieving escape velocity.

Fed is in ‘wait and watch’ mode on rate cuts, says Raghuram Rajan
May 16, 2024 | CNBC The Exchange
Chicago Booth’s Raghuram Rajan discusses outlooks on monetary policy in the U.S. and abroad.

‘The seeds had been planted. Trump didn’t do it himself.’
May 15, 2024 | The New York Times
After analyzing data from studies conducted by the World Values Survey in 76 countries, Chicago Booth’s Joshua Conrad Jackson and PhD student Dan Medvedev found, “Values emphasizing tolerance and self-expression have diverged most sharply, especially between high-income Western countries and the rest of the world.”

SoftBank is pivoting to AI. Is it already too late?
May 14, 2024 | Inc.
“In 2021, they helped push the market by putting lots of money to work at crazy valuations. And it actually helped ruin some companies,” said Chicago Booth’s Steven Kaplan about Japanese investment giant SoftBank.

The 10 best schools for finance in the world
May 10, 2024 | BusinessBecause
The University of Chicago Booth School of Business is one of the world’s best schools for finance, according to BusinessBecause.

Chicago Booth’s Anil Kashyap forecasts prolonged inflation at higher level
May 10, 2024 | CNBC TV18
Booth’s Anil Kashyap discusses the global macro economy outlook and where U.S. inflation is headed.

Why ‘good enough’ can be better for your decisions and mental health
May 3, 2024 | The Washington Post
When it comes to making decisions, people often take one of two approaches. “Maximizers want to make the best decision,” says Booth’s Ayelet Fishbach. “Satisficers want to make the ‘good enough’ decision.”

2024 Best & Brightest MBA: Athena Saldanha, University of Chicago (Booth)
May 3, 2024 | Poets & Quants
Full-Time MBA student Athena Saldanha discusses her academic and professional achievements, and shares highlights from her time at Booth.

The perils of the Fed’s vast bond holdings
May 3, 2024 | The New York Times
Booth’s Raghuram Rajan noted that U.S. banks had become “addicted to the easy liquidity” associated with the Fed’s expansionary policies. “The analogy is a terrible one, but what the Fed has done is engender an addiction.”

India’s 8.5% growth rate has some ‘fluff,’ former central bank chief Raghuram Rajan says
May 2, 2024 | CNBC Squawk Box Asia
“It’s good to be realistic about your GDP numbers because that forms the basis of policy,” said Chicago Booth’s Raghuram Rajan regarding India’s economic growth rate. “If you think you’re growing fantastically, why change policy at all?”

Auditors balk at regulator’s push to expand their role
April 29, 2024 | The Wall Street Journal
Chicago Booth’s Luigi Zingales estimates that securities fraud costs investors approximately $800 billion a year, significantly overshadowing what they might recoup in monetary settlements.

BoE’s Pill says rate cut still some way off, despite recent progress
April 23, 2024 | Reuters
“The combination of little news and the passage of time have brought a Bank Rate cut somewhat closer,” said Bank of England Chief Economist Huw Pill in a speech on Booth’s London campus. “But the same lack of news gives me no reason to depart from the baseline that I already established.”

Power, productivity and how our system works
April 22, 2024 | Financial Times
During a two-day antitrust conference hosted by Chicago Booth’s Stigler Center, a panel of experts discussed how much antitrust action affects productivity growth.

Stocks can continue to outperform even if rates stay high, says Fundstrat’s Tom Lee
April 18, 2024 | CNBC: Power Lunch
Booth’s Raghuram Rajan discusses the Fed’s inflation dilemma and China’s economic recovery.

How an obscure chinese real estate start-up paved the way to TikTok
April 18, 2024 | The New York Times
Susquehanna International Group first invested in ByteDance, the owner of TikTok, over a decade ago. “Part of it is they saw something,” said Chicago Booth’s Steven Kaplan. “Part of it is they got lucky.”

China’s punishment for people with bad debts: no fast trains or nice hotels
April 17, 2024 | The Wall Street Journal
The prevalence of large personal debts is a problem for China’s leadership. “Household debt booms tend to lead to bad macroeconomic outcomes, even in the absence of a financial crisis,” says Chicago Booth’s Amir Sufi.

Private equity finds its next bet: college admissions
April 17, 2024 | CNN
Chicago Booth’s Constantine Yannelis shares his concerns about private equity firm’s involvement in college test prep companies. “I worry that profitability could come at the expense of students, and particularly students coming from lower income families.”

Welcome to pricing hell
April 16, 2024 | The Atlantic
Chicago Booth’s Jean-Pierre Dubé believes that most people would support dynamic pricing if only they understood it.

How to launch your business-to-consumer business this year
April 15, 2024 | Crain’s Chicago Business
Chicago Booth’s Mia Saini Duchnowski shares advice on how to launch a consumer products company in today's competitive and crowded product landscape. 

America’s flailing industrial policy can take lessons from China
April 11, 2024 | Foreign Policy
China scholars say the secret to China’s success isn’t just spending. “The secret sauce of China’s industrial policy is competition among local governments,” suggests Chicago Booth’s Chang-Tai Hsieh.

Acquiring a taste for business ownership
March/April 2024 | Ambition magazine
Interest in entrepreneurship through acquisition (ETA) is gathering pace, says Chicago Booth’s Brian O’Connor and Mark Agnew. (story begins on p. 42)

Consumers hate ‘price discrimination,’ but they sure love a discount
April 6, 2024 | The New York Times
Chicago Booth’s Jean-Pierre Dubé discusses the benefits of personalized pricing, and how both companies and consumers can come out ahead.

Talking politics with strangers isn’t as awful as you’d expect, research suggests
April 2, 2024 | psychologicalscience.org
People would find discussing their political differences to be a more positive experience than expected, at least partly because people fail to appreciate the extent to which conversations are informative and draw people closer together, per Chicago Booth’s Nicholas Epley and his co-researchers. 

The real Chicago Booth: debunking myths about the school
April 1, 2024 | Poets&Quants
“Perhaps where most applicants misjudge Booth is thinking that flexibility applies only to course selection, when in fact, it extends to the entire Booth experience: which student clubs you join, the teams you form, where you live, and so on,” says Kate Richardson, admissions consultant at mbaMission.

The top 100 business schools, ranked by research
March 29, 2024 | Poets&Quants
In a comparison of research conducted at top business schools, Chicago Booth is highlighted for having more than a dozen centers and initiatives, including the Harry L. Davis Center for Leadership, the Rustandy Center for Social Sector Innovation, and the renowned Polsky Center for Entrepreneurship and Innovation, which runs one of the premier startup accelerators in the world.

Democrats look for new ways to tax the super-rich
March 27, 2024 | The Washington Post
According to Chicago Booth’s Eric Zwick, much simpler changes to the tax code could raise revenue from rich people without forcing the IRS to estimate unrealized gains, including reducing the deduction for business income claimed on personal tax returns.

India making mistake believing ‘hype’ about growth, Rajan says
March 26, 2024 | Bloomberg
According to Chicago Booth’s Raghuram Rajan, India is making a big mistake believing the hype around its strong economic growth, since there are significant structural problems that need to be fixed for the country to meet its potential.

What Taylor Swift’s new album, COVID-19 vaccines and the 2020 election say about patience
March 25, 2024 | Forbes
A new study from Booth’s Ayelet Fishbach and co-author finds that people tend to experience greater impatience at the end of their wait because their desire for closure increases.

New build-to-rent communities offer the space and feel of single-family housing without the hassle of home maintenance
March 23, 2024 | Chicago Tribune
Rising mortgage rates and fewer homes for sale have pushed prices to unaffordable levels for many prospective buyers, resulting in a growing demand for reasonably priced rental homes, said Chicago Booth’s Joseph Pagliari.

The world needs reminding—governments are not good at picking winners
March 21, 2024 | Financial Times
To break the vicious protectionist cycle, we need new rules of the game, advises Chicago Booth’s Raghuram Rajan in a recent op-ed.

Accountability is the key to a sustainable workout habit
March 21, 2024 | The New York Times
If you’re more dedicated than your workout buddy, you can benefit from serving as a motivator and teacher for a less-experienced friend, said Chicago Booth’s Ayelet Fishbach.

Former Fed governor Randy Kroszner: expect rate cuts to begin in June or July
March 20, 2024 | CNBC: Money Movers
Booth’s Randall Kroszner discusses whether the market has the right expectations for cuts from the Federal Reserve this year.

60% of people who work multiple hourly jobs are women: ‘They will do what they have to do’
March 19, 2024 | CNBC.com
“When women are in the workforce, if they’re not getting commensurate pay and income, they will do what they have to do to supplement that, particularly in periods of inflation,” says Chicago Booth’s Amy Hilliard of the rise of females taking on multiple hourly jobs.

What are fintech companies and what are the challenges of fintech?
March 19, 2024 | BusinessBecause
Booth’s David K.A. Mordecai explains fintech innovation and discusses its challenges, including financial inclusion and equitable access in developing countries and emerging markets.

The ferocious U.S. pushback against new banking rules
March 19, 2024 | Financial Times
Chicago Booth’s Anil Kashyap says complexity “is a fair critique” of the new bank capital rules proposed by America’s regulators.

Do investing pros make smart buy and sell decisions?
March 18, 2024 | Financial Decoder
Chicago Booth’s Alex Imas discusses new research about the effects of heuristic thinking on institutional investors’ performance.

Fed will have to keep rates high for longer than markets anticipate, say economists
March 17, 2024 | Financial Times
An FT-Chicago Booth poll suggests the Federal Reserve will make two or fewer cuts this year, with the first between July and September.

Why credit card debt is so high right now
March 16, 2024 | TIME
“People adjusted to having lower levels of expenses,” says Chicago Booth’s Abigail Sussman of how COVID-19 reshaped the way we think about spending. “People may have adjusted to having more slack in their budgets.”

Do debit card round-up plans hurt consumer savings?
March 14, 2024 | Forbes
“If you can get people to save in ways that are not that noticeable, that’s great,” said Chicago Booth’s Abigail Sussman of debit card round-up plans. “The place where it is potentially problematic is if people use these methods to exclusion of other saving, and don’t pay attention to goals.”

Expect a slowdown from ‘screaming’ U.S. growth: Randall Kroszner
March 13, 2024 | Bloomberg TV
Chicago Booth’s Randall Kroszner doesn’t expect dramatic revisions to the Federal Reserve’s dot plot as he sees three interest rate cuts this year and a “hard-ish” landing for the U.S. economy.

Charting the future: executive education programs in finance
March 13, 2024 | Executive Courses
Chicago Booth’s new Global Advanced Finance Program offers corporate finance executives and senior investment professionals an interdisciplinary approach to financial leadership.

FCA urged to act in ‘Sexism in the City’ report
March 12, 2024 | The Banker
Research from Chicago Booth’s Alex Imas proposes a new approach to measuring discrimination, recognizing the limitations of traditional economic measures.

The market’s version of a ‘quickie’ divorce is getting more complex and costly
March 9, 2024 | CNBC.com
“We’re in a particularly hostile environment for deal-making when you are pursuing companies in your own industry,” Booth’s Laura Born says of new regulatory guidelines. “It’s all about the politics and the inability to get the deals across the finish line.”

SpaceX blasts off from Delaware courts. Other companies keep landing there.
March 7, 2024 | Washington Examiner
Booth’s Hal Weitzman weighs in on Elon Musk’s decision to pull SpaceX from Delaware’s corporate governance and reflects on the state’s corporate history.

Trump’s tax cut fueled investment but did not pay for itself, study finds
March 4, 2024 | The New York Times
According to research from Chicago Booth’s Erik Zwick and coauthors, President Trump’s 2017 corporate tax cuts show modest gains for workers and high cost to the federal debt.

Why AI could boost the economy faster than past technologies
March 4, 2024 | Axios
San Francisco Fed president Mary Daly spoke about the potential of generative AI at the U.S. Monetary Policy Forum, sponsored by Chicago Booth’s Kent A. Clark Center for Global Markets.

Fed’s Waller: Upcoming balance sheet decisions have no bearing on monetary policy
March 1, 2024 | Reuters
Federal Reserve governor Chris Waller spoke about the central bank’s balance sheet at the U.S. Monetary Policy Forum, sponsored by Chicago Booth’s Kent A. Clark Center for Global Markets.

Former Fed governor Randy Kroszner: Don’t expect a June rate cut to be ‘baked in the cake’
February 29, 2024 | CNBC: Squawk on the Street
Booth’s Randall Kroszner weighs in on the Fed’s possible rate path outlook after the release of January’s personal consumption expenditures price index.

I’ve studied thousands of people who are good at making small talk—here’s what they do differently
February 29, 2024 | CNBC.com
Booth’s Nicholas Epley suggests reframing questions to better connect with others: “It might seem hard to reframe questions in a way that’s vulnerable, but it’s actually pretty easy once you start looking for it.”

How America’s CHIPS Act hurts Taiwan
February 26, 2024 | Project Syndicate
Booth’s Chang-Tai Hsieh and coauthors believe that, although well intentioned, the U.S. CHIPS Act is likely to undercut Taiwan’s TSMC, the world’s leading semiconductor manufacturer, and leave the entire industry more vulnerable than it already is.

Author Charles Duhigg explores how and why some people are better at handling conversations
February 24, 2024 | CBS Saturday Morning
“We are fundamentally social beings,” says Booth’s Nicholas Epley in an interview with CBS about humanity’s propensity to communicate. “We are happier and healthier when we connect with others.” 
(Segment begins at 2:48.)

Top economist warns of ‘unintended consequences’ from a banking regulation that will touch every corner of the economy
February 21, 2024 | Fortune
Booth’s Randall Kroszner argues that Basel III Endgame, a proposal that would raise capital requirements for banks, would not only be costly for banks, but also have “unintended consequences” for U.S. consumers and businesses.

There’s only one way to fix air pollution now
February 21, 2024 | The Atlantic
Research from Chicago Booth’s Matt Notowidigdo and coauthors suggests that the Great Recession of 2007 to 2009—despite causing profound economic hardship—actually increased Americans’ life expectancy.

Crypto behavioral finance: Why do we tend to follow the herd?
February 21, 2024 | Forbes
“Humans are a social animal, so it makes sense that they frequently turn to others to learn about the world,” says Booth’s David Nussbaum. “By paying attention to what others say and do we can learn a lot about the right ways to behave.”

Why career change is an inside job
February 21, 2024 | Forbes
Research from Booth’s Ayelet Fishbach and Cornell’s Kaitlin Woolley suggests that people who are invited to embrace discomfort rather than avoid it experience increased motivation, leading them to build new skills and open themselves up to uncomfortable ideas.

People and places: February 2024
February 20, 2024 | AACSB Insights
Chicago Booth is launching a new Global Advanced Finance Program, a certificate program designed for corporate finance executives and senior investment professionals.

Bad property debt exceeds reserves at largest U.S. banks
February 19, 2024 | Financial Times
“At some point if high vacancy rates hold, these property owners are not going to be able to service their debts, and banks are going to foreclose,” Chicago Booth’s João Granja says of lower loan allowances for commercial real estate in the wake of the pandemic. 

Why humans hate to wait and what our impatience says about us
February 19, 2024 | Earth
Research from Chicago Booth’s Ayelet Fishbach, Alex Imas, and their coauthor suggests that people often prefer to exert more effort or pay more upfront to achieve closure sooner rather than wait.

How many U.S. Latter-day Saints are actually in church every week?
February 17, 2024 | The Salt Lake Tribune
Research from Chicago Booth’s Devin Pope suggests that while Latter-day Saints overclaim weekly church attendance, they do so less than most religions. “Almost surely we’re seeing some social desirability bias, where people want to claim that they are weekly attendees and they’re just not,” Pope said.

Low inflation doesn’t relieve pain of high prices
February 15, 2024 | NPR Marketplace
Price nostalgia is a “well-documented psychological phenomenon,” says Chicago Booth’s Ayelet Fishbach. “We remember the past being rosier, easier and cheaper than it was.”

Was Pfizer’s “Here’s to Science” commercial during the Super Bowl a winning play or a fumble?
February 12, 2024 | STAT
Booth’s Pradeep Chintagunta says that by focusing on cancer treatment, Pfizer’s Super Bowl ad is likely to resonate with many in the general public.

How to get back on track with your New Year’s resolutions
February 10, 2024 | NBC News
“Without any specifics, it’s hard to feel empowered by what you did or motivated by what you still need to do because you never quite set a number,” says Booth’s Ayelet Fishbach of broad New Year’s goals. “So set a resolution where you can know where you stand.”

The danger of forgetting the 2023 banking crisis
February 8, 2024 | Project Syndicate
Chicago Booth’s Raghuram Rajan writes about the Fed’s intervention to rescue smaller banks in March 2023, and whether there should be an inquiry into the circumstances that caused the vulnerabilities.

‘Thank you’ matters: Why a stronger society starts with your bus driver
February 8, 2024 | The Christian Science Monitor
“We’re happier and healthier when we reach out and engage with other people. And yet in so many parts of daily life, we seem reluctant,” says Chicago Booth’s Nicholas Epley. “And that’s a real puzzle.”

Strong earnings, and Taylor Swift, add to Disney’s defenses
February 8, 2024 | The New York Times
Booth’s João Granja weighs in on regional lenders to the commercial real estate sector: “If the banks started calling back these loans because of missed payments, everything could start to spiral in a very negative way.”

How India gave the U.S. a generation of business school deans
February 6, 2024 | Financial Times
“For us, the U.S. was where you had to do a PhD,” Booth’s dean Madhav Rajan says about his academic experience. “It was very much a first generation thing.”

Nobel Prize winner in Economics Douglas Diamond: The U.S. banking industry is not resting easy and is not worried about a financial crisis in China
February 4, 2024 | 21st Century Business Herald
“The Federal Reserve will cut interest rates this year depending on the degree of decline in inflation indicators,” says Chicago Booth’s Douglas Diamond. “Interest rates will be maintained at a relatively high level for a long time to adjust people’s inflation expectations.”

2023 Most Disruptive MBA Startups: inclusive+, University of Chicago (Booth)
February 4, 2024 | Poets & Quants
Booth alumnae Lori Ebenstein, ’23, and Anna Jacobs, ’23, share how professors Lindsey Lyman and Mark Tebbe contributed to the success of their healthcare startup inclusive+,  which improves health equity for LGBTQ+ patients.

What Walmart’s new focus on employee stock means for the labor market and average American household
February 3, 2024 | CNBC.com
Chicago Booth’s Stacey Kole weighs in on Walmart’s new compensation bonus for managers that’s up to 200% of their base salary: “It’s not just other retailers that have to worry about this. It’s anyone who has personnel that can run really complex organizations.”

Elon Musk hates Delaware now. Here’s why millions of businesses love it
February 1, 2024 | Fortune
Delaware’s lenient tax structure has “contributed to a collapse in state corporate income tax revenues over the past five decades,” says Chicago Booth’s Hal Weitzman.

Crypto was started to address a collapse of trust. Can it be trusted?
February 1, 2024 | The Christian Science Monitor
While Booth’s Eric Budish doesn’t think cryptocurrency is a viable economic solution at a global scale, he says “there’s a lot of scope for innovation and how to marry some of the intellectual ideas that have been bubbling up with crypto to traditional sources of trust.”

Who’s afraid of our $34 trillion national debt?
January 30, 2024 | NPR Marketplace
“When debt gets this high, it can alarm investors,” says Booth’s Raghuram Rajan of the $34 trillion the U.S. government owes its creditors. “Eventually, you rack up huge debts and nobody trusts you anymore.”

The promises and problems of buying local
January 29, 2024 | The New York Times
“I think we should let people choose what they want,” says Booth’s Chang-Tai Hsieh on whether consumers should buy from local businesses or national chains. “If things are really better, I think it would be really dangerous for someone to say, ‘You cannot make that choice.’”

The Nobel Prize winner predicts that the United States will cut interest rates two or three times in the second half of the year, a total of 0.5%, and Hong Kong will usher in a period of stability.
January 29, 2024 | Hong Kong Economic Journal
In an interview during the Asian Financial Forum in Hong Kong, Booth’s Douglas Diamond said that the Federal Reserve was a little behind in raising interest rates to curb inflation, so the interest rate cuts might be slower than the market expected.

2023 Most Disruptive MBA Startups: Zelia, University of Chicago (Booth)
January 29, 2024 | Poets & Quants
Current student Laura Mattos describes how her experience at Booth—especially guidance from professor Mark Tebbe—contributed to the success of her startup Zelia, an AI-powered fashion app.

From “Hot Ones” to “Chicken Shop Date,” the best celebrity interviews take place over chicken
January 29, 2024 | Salon
“Food is about bringing something into the body. And to eat the same food suggests that we are both willing to bring the same thing into our bodies,” says Booth’s Ayelet Fishbach. “People just feel closer to people who are eating the same food as they do.”

Make economic growth inclusive and focus on designing products than just assembling them: Raghuram Rajan
January 28, 2024 | The Telegraph India
“For India to be the future, let us recognise the strength our democracy gives. Because it allows the creativity, the discussion and ebullience that we need to become a truly innovative nation. We need that to become a developed nation by 2047,” Booth’s Raghuram Rajan said during a discussion of his new book, Breaking the Mould: Reimagining India’s Economic Future.

Fed’s inflation battle hinges on convincing Americans price hikes are done
January 28, 2024 | Bloomberg
Chicago Booth’s Michael Weber says “price nostalgia” is driving the current consumer mindset on inflation.

How bosses can stop the ‘meeting after the meeting’
January 25, 2024 | The Wall Street Journal
Booth’s Susan Lucia Annunzio provides tips for how leaders can empower employees to express dissenting opinions in formal meetings.

Exec Ed Roundup: Chicago Booth announces new Global Advanced Finance certificate
January 25, 2024 | Poets & Quants for Executives
Chicago Booth is creating a new certificate program in Global Advanced Finance, designed for corporate finance executives, senior investment professionals and strategic decision-makers. The program confers alumni status upon completion.

Will politics or economics win out in 2024?
January 25, 2024 | Financial Times
Booth’s Elisa Rubbo has developed a “Divine Coincidence index” that tracks supply shocks alongside demand swings in inflation forecasts to better model current economic realities.

Nobel Laureate in Economics Douglas Diamond optimistic that world will not experience a financial crisis soon
January 25, 2024 | Hong Kong Economic Times
Booth’s Douglas Diamond is optimistic that a financial crisis will not break out soon. However, when geo-economic fragmentation intensifies, he says the efficiency of the world economy will decline.

The U.S. seems to be dodging a recession. What could go wrong?
January 20, 2024 | The New York Times
“Despite the strong demand, we’ve still had inflation coming down,” says Chicago Booth’s Raghuram Rajan. “The question now is, going forward, are we going to be so lucky?”

Econ battle zone: Disinflation confrontation
January 19, 2024 | NPR: Planet Money
Booth’s Luigi Zingales serves as a guest judge on the radio program Planet Money’s Econ Battle Zone challenge.

10 business schools to watch in 2024
January 15, 2024 | Poets & Quants
Chicago Booth is featured as one of 10 business schools to watch in 2024, with its launch of both the Master in Management Program and the Master in Finance Program.

$88 trillion in debt and a wave of elections. World leaders are hamstrung
January 14, 2024 | CNN
“One of the key elements sustaining a country’s credibility on its ability to repay (debt) is political consensus,” says Chicago Booth’s Raghuram Rajan.

This year, I’m doing less—it’s a ‘great idea for a New Year’s resolution,’ expert says
January 13, 2024 | CNBC
“Our tendency as humans when we think about improving something is adding,” says Booth’s Ayelet Fishbach. In fact, “often the improvement is by removing things.”

Lugging credit card debt into 2024? Now’s the time to make a plan
January 12, 2024 | The New York Times
Paying down card debt is “a really hard thing to do,” says Chicago Booth PhD student Benedict Guttman-Kenney. “There’s no simple fix.”

Best savings accounts for college students
January 11, 2024 | Credit Donkey
Students who want to save money to pay off student loans “can enroll in income-driven repayment programs,” suggests Chicago Booth’s Constantine Yannelis. “If borrowers have lower incomes, they can make lower or even no payments.”

Shorter everything: Why the MiM is going global
January 11, 2024 | AACSB
With an increased global interest in Master in Management programs, some leading American schools, including Chicago Booth, are adding MiMs to their offerings.

2 weeks into 2024, some people have given up on their New Year's resolutions
January 11, 2024 | NPR Morning Edition
“Most people will give up on their resolutions or their attention will just be on something else, and they will no longer even think about their resolutions,” says Chicago Booth’s Ayelet Fishbach.

Dining out? Check the bill for a 'health insurance' surcharge
January 10, 2024 | MedPage Today
“The risky part about that strategy is that every once in a while some consumer does notice, and they get really upset,” says Booth’s Matthew Notowidigdo of a 4 percent surcharge at an Atlanta restaurant to cover employees’ healthcare costs.

Markets overpricing March interest rate cut, former Fed governor Kroszner says
January 10, 2024 | Bloomberg
Chicago Booth’s Randall Kroszner says that it’s too early to predict the central bank will cut interest rates in March—as many investors and economists expect—as the labor market remains strong.

Chicago Booth MBA Class of 2023 employment report: higher median salaries & high consulting placement
January 10, 2024 | Clear Admit
The MBA Class of 2023 at Chicago Booth received a median salary of $180,000, a 5 percent increase from last year’s class, and a high consulting placement of 38.6 percent.

Why did some companies repay PPP loans that could have been forgiven?
January 10, 2024 | NPR Morning Edition
Chicago Booth’s Eric Zwick weighs in on the impact that small businesses make by repaying the loans they received from the government's Paycheck Protection Program during COVID.
 (Interview starts at 3:22.)

In charts: how India has changed under Narendra Modi
January 8, 2024 | Financial Times
“Growth has been good, but it has to be set in perspective,” says Chicago Booth’s Raghuram Rajan of India’s growth rate in recent years.

MoviePass gets a second chance—and moviegoing does too
January 7, 2024 | Fast Company
Booth’s Avner Strulov-Shlain explains that gyms use subscription models because gym owners “follow the logic that we have our consumers, they’re going to be inattentive, or we’re going to make it very hard to cancel.”

Fed to 'wait a while' on cuts after jobs data: Kroszner
January 5, 2024 | Bloomberg Surveillance
Chicago Booth’s Randall Kroszner says the Fed will “be waiting a while” before cutting rates because the labor market and wage growth are still strong.

University of Chicago announces Master of Finance degree
January 4, 2024 | Best Colleges
“The option to take courses that delve deep into topics such as A.I., machine learning, big data, blockchain technology, fintech…will give students an advantage in the market after they graduate,” says Booth’s Ralph Koijen of the school’s new Master in Finance program. 

Tips to help you keep your New Year’s resolution
January 3, 2023 | WGN Radio
Chicago Booth’s Ayelet Fishbach discusses why staying on track with your goals matters and offers seven tips to help you keep your New Year’s resolutions.

Illinois skirted a recession last year. Here’s what to know about the job market in 2024.
January 2, 2024 | Chicago Tribune
Chicago Booth's Matthew Notowidigdo weighs in on the Illinois labor market and why he hopes to see the state adding more jobs.