Brookings Today, 1/15/15

A roundup of some of the content published today at Brookings.

• House GOP flexes muscles on immigration. John Hudak says whether you like the policy outcome or not, Congress is within its legislative power to seek to undo President Obama’s recent executive action.
• Learning the right lessons on global economic history. Parinthra Sastry and David Wessel review a recent Hutchins Center event on what lessons the U.S. and Europe should have taken from the Great Depression of the 1930s.
• Central banks must change their target. Warwick McKibbin argues that for too long central banks have used inflation as their policy target; instead, he says they need to focus on nominal GDP targeting.
• Data transparency in U.S. foreign aid. George Ingram says that it’s time for transparent data in the Quadrennial Diplomacy and Defense Review.
• Five bleak facts on black opportunity. Richard Reeves and Edward Rodrigue look at five stubborn race gaps in opportunity.
• Will Greece’s election break the euro? Douglas Elliott explores whether a Syriza-led government will ignite another euro crisis.