Jeff Haymond, Ph.D.

Dean, School of Business Administration/Associate Professor

  • Cedarville OH UNITED STATES

Research interests include economics and religion, as well as monetary theory

Contact

Spotlight

2 min

How Will Rate Cuts Affect the Election?

On September 18, the Federal Reserve established the first interest rate cut since the Covid pandemic in 2020. The Fed lowered the federal funds rate by half a percentage point – a much larger change than the typical quarter percentage point cut.  Dr. Jeff Haymond, dean of the Robert W. Plaster School of Business at Cedarville University, shared insight about the motivations behind this rate cut in a recent interview. Here are some key points: The United States' national debt has been described as a "ticking time bomb." What impact will this and future interest rate cuts have on the national debt? In light of this recent move, current presidential candidate Donald Trump has articulated his economic plan to put a cap on credit card interest rates. Would this bring down the cost of living in the United States, or will it lead to less options for the consumer? This slashing of the interest rate comes only a short time before the presidential election, with many claiming that this cut was, in fact, a political move. Will it affect the decisions of voters as the election draws near? If you are covering the recent interest rate cut or potential for future cuts and need to know more, let us help with your questions and stories.  Dr. Jeff Haymond is an expert on this subject and is available to speak to media regarding the action of the Federal Reserve and what this means for families in the United States – simply click on his icon or email mweintsein@cedarville.edu to arrange an interview.

Jeff Haymond, Ph.D.

2 min

With an economy on life support – is inflation inevitable?

As countries around the globe are flooding their respective economies with enough cash to hold back the financial tsunami that could be felt by COVID-19 … will all that cash inevitably come with an unfortunate consequence like inflation? Those who work the markets and do their best to see into the future … think so.   With the world economy forecast to shrink 6% this year, it may seem like a strange time to fret about inflation. And sure enough, market-based gauges suggest an uptrend in prices may not trouble investors for years. U.S. and euro zone inflation gauges indicate that annual price growth will be running at barely over 1% even a decade from now. So if inflation really is, as the IMF put it in 2013, “the dog that didn’t bark”, failing to respond to all the central bank money-printing unleashed in the wake of the 2008-9 crisis, why should investors prepare for it now, especially as demographics and technology are also conspiring to tamp down inflation across the developed world? The answer is that some think the dog really will bark this time, partly because unlike in the post-2008 years governments around the world have also been rolling out massive spending packages, in a bid to limit the impact of the coronavirus pandemic. “We will be pushing, pushing, pushing on the string and dropping our guard, then 3-5 years from now...that’s when the (inflation) dog will start barking,” said PineBridge Investments’ head of multi-asset Mike Kelly, who has been buying gold on that view. “Gold worries about such things long in advance. It has risen through this coronavirus with that down-the-road-risk top of mind,” he added. June 22 Reuters It’s a daunting and stressful scenario. How much inflation could America expect and what would it mean to household incomes and spending? What industries would be further devastated by this? Is there any way to reverse inflation or is there an upside to it for some? If you are a reporter covering this topic – then let our experts help. Jeff Haymond, Ph.D. is Dean, School of Business Administration and a Professor of Economics at Cedarville and is an expert in finance and trade. Dr. Haymond is available to speak with media regarding this topic – simply click on his icon to arrange an interview.

Jeff Haymond, Ph.D.

2 min

The road back – how long will it take for America’s economy to recover?

With unemployment at a staggering 14 percent, America’s economy looks as if it is in freefall. With COVID-19 forcing factories to shut down, small businesses to shutter and restaurants to close their doors, there is anxiety at every level of government about when the country’s economy will get back in motion.   Economists surveyed by Dow Jones had been expecting payrolls to shed 21.5 million and the unemployment rate to go to 16%. April’s unemployment rate topped the post-war record 10.8% but was short of the Great Depression high estimated at 24.9%. The financial crisis peak was 10% in October 2009. The bleak numbers paint a “pretty dismal picture, but April may be it for job losses going forward with the country starting to reopen,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “If there is a silver-lining in today’s dismal jobs report, it is in the realization that the economy cannot possibly get any worse than it is right now.” CNBC – May 08 Bleak indeed, but there are still many questions to be answered. How long will it take until people are back to work? What industries and businesses are impacted or lost forever? Is there a safe way to get back to work? Are there worries of inflation? And who is paying for all this stimulus funding and bailouts. If you are a journalist covering the economy, let one of our experts help. Jeff Haymond, Ph.D. is Dean, School of Business Administration and a Professor of Economics at Cedarville and is an expert in finance and trade. Dr. Haymond is available to speak with media regarding this topic – simply click on his icon to arrange an interview.

Jeff Haymond, Ph.D.
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Biography

Dr. Haymond joined the faculty at Cedarville University in 2010 after a 29-year career in the United States Air Force. While in the Air Force, Colonel Haymond had assignments in engineering, satellite control, and launch operations. He taught at the United States Air Force Academy and was an Air Force Fellow at The Brookings Institution. His research has been published in scholarly journals such as the Quarterly Journal of Austrian Economics, Public Choice, the Journal of Public Choice and Public Finance, and Journal of Faith and Economics. His current research interests include economics and religion, as well as monetary theory.

Industry Expertise

Education/Learning
Accounting
Banking
Financial Services
Religious Institutions

Areas of Expertise

Financial Markets (General)
Federal Trade Reserve Policy
Free Trade
Minimum Wage / Unemployment
Government Regulation

Education

George Mason University

Ph.D.

Economics

2001

University of Tennessee

M.S.

Mechanical Engineering

1989

United States Air Force Academy

B.S.

Aeronautical Engineering

1985

Affiliations

  • The Brookings Institution

Media Appearances

Cedarville dean giving teen battling cancer gift of life

WDTN  online

2016-09-06

A dean at Cedarville University is giving a teen a chance to beat cancer and live a healthy life through a life-saving donation.

“What do you say when you’re the match that could potentially save somebody’s life?” smiled Jeff Haymond.

Jeff Haymond’s stem cells are a perfect match for an Australian teen battling non-Hodgkin’s Lymphoma. Through an anonymous process he was matched with the 15-year-old who is undergoing chemotherapy. He will undergo a stem cell transfer to ultimately help save her life.

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Articles

Are MMMFs money?

The Quarterly Journal of Austrian Economics

2000

In the last twenty years, continual financial innovation has led to the increased use of MMMFs as a substitute for checkable deposits. While many technical considerations suggest that it is inappropriate to list MMMFs as money, traditional Austrian thought has emphasized money’s subjective aspects: money is what people think it is. Since the public increasingly uses MMMFs as money substitutes, they are money in all practical respects. Every technical consideration that would restrict the use of MMMFs as a type of money thus crashes against the rocks of practical, everyday experience.

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