Tom Duncan
at Sound Money Project
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“Central Bankers Give In, And Discuss the Dollar”
““It’s hard to make a strong case” the Fed’s bond-buying program can now aid the economy through lowering rates, said Stephen Stanley, chief economist with Pierpont Securities. He said that leaves the Fed relying on the “secondary mechanisms” of monetary policy, most notably the trade benefits of a lower dollar. “They want to see [a…
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“Bernanke on Perilous Ground for Fed Chairman” – NPR
“Federal Reserve Chairman Ben Bernanke is taking some highly unusual steps to counter widespread opposition to his $600 billion plan to jump-start the economy. He’s pressing China to let its currency rise and pushing Congress to pass more stimulus aid. Yet as he veers into these political debates, Bernanke may be putting at risk the…
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“Should the Fed Worry About Unemployment?”
“One of the things most people don’t realize when they watch the Federal Reserve move the levers of U.S. monetary policy is that its leaders actually wear two hats. The Fed’s marching orders from Congress are to “promote effectively the goals of maximum employment and stable prices.” One of the hottest debates among economists right…
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“What’s the Bigger Worry: Inflation or Deflation?”
“If you get $1,000 per month in pension income that is not adjusted each year for inflation, then it will buy you $1000 worth of goods in 25 years assuming no inflation. But, at 2 per cent for 25 years, which is pretty much what we are getting now, the purchasing power of your $1,000…
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“Bernanke Makes Case to Senators”
“Federal Reserve Chairman Ben Bernanke defended the central bank’s plan to buy government bonds during a private gathering with U.S. senators, responding to several days of attacks from Republicans who say the Fed is causing inflation and weakening the dollar. The Fed chairman denied the U.S. was manipulating the currency through its plan to purchase…
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“Lawmakers seek to change Fed mission”
“Two influential Republican lawmakers called Tuesday for a fundamental remaking of the Federal Reserve’s mission, arguing that the central bank should stop trying to reduce unemployment and instead focus solely on keeping inflation low. The proposal by Sen. Bob Corker (Tenn.) and Rep. Mike Pence (Ind.) would end the three-decade-old “dual mandate” of the Fed,…
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“Fresh Attacks on Fed Move”
“A group of prominent Republican-leaning economists, coordinating with Republican lawmakers and political strategists, is launching a campaign this week calling on Fed Chairman Ben Bernanke to drop his plan to buy $600 billion in additional U.S. Treasury bonds. “The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve…
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“Fed’s Plosser Says Understanding Crisis May Take 50 Years”
““It will be at least 50 years before we really understand very well what happened in 2008-2009, and we will be interpreting for another 50 years as to whether the Federal Reserve undertook the right policies or the wrong policies,” Plosser said today during an audience discussion at a Fed conference in Jekyll Island, Georgia.…
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“Ireland Crises Could Cause EU Collapse”
“The president of the European Union has warned that the EU could collapse unless the debt crisis that is gripping the region is resolved. Herman Van Rompuy, president of the European Council, raised the stakes ahead of this evening’s showdown talks between finance ministers in Brussels. With Ireland and Portugal both on the brink of…
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“Mahathir Says Currency Trading ‘Silly’, Advocates Return to Peg”
“Former Malaysian Prime Minister Mahathir Mohamad, who fought off an attack on the ringgit with capital controls during the Asian financial crisis, said currency trading is “silly” and the world should return to the Bretton Woods System of fixed exchange rates. Currency wars are futile and the U.S. Federal Reserve’s latest quantitative easing plan will…
-
“Central Bankers Give In, And Discuss the Dollar”
““It’s hard to make a strong case” the Fed’s bond-buying program can now aid the economy through lowering rates, said Stephen Stanley, chief economist with Pierpont Securities. He said that leaves the Fed relying on the “secondary mechanisms” of monetary policy, most notably the trade benefits of a lower dollar. “They want to see [a…
-
“Bernanke on Perilous Ground for Fed Chairman” – NPR
“Federal Reserve Chairman Ben Bernanke is taking some highly unusual steps to counter widespread opposition to his $600 billion plan to jump-start the economy. He’s pressing China to let its currency rise and pushing Congress to pass more stimulus aid. Yet as he veers into these political debates, Bernanke may be putting at risk the…
-
“Should the Fed Worry About Unemployment?”
“One of the things most people don’t realize when they watch the Federal Reserve move the levers of U.S. monetary policy is that its leaders actually wear two hats. The Fed’s marching orders from Congress are to “promote effectively the goals of maximum employment and stable prices.” One of the hottest debates among economists right…
-
“What’s the Bigger Worry: Inflation or Deflation?”
“If you get $1,000 per month in pension income that is not adjusted each year for inflation, then it will buy you $1000 worth of goods in 25 years assuming no inflation. But, at 2 per cent for 25 years, which is pretty much what we are getting now, the purchasing power of your $1,000…
-
“Bernanke Makes Case to Senators”
“Federal Reserve Chairman Ben Bernanke defended the central bank’s plan to buy government bonds during a private gathering with U.S. senators, responding to several days of attacks from Republicans who say the Fed is causing inflation and weakening the dollar. The Fed chairman denied the U.S. was manipulating the currency through its plan to purchase…
-
“Lawmakers seek to change Fed mission”
“Two influential Republican lawmakers called Tuesday for a fundamental remaking of the Federal Reserve’s mission, arguing that the central bank should stop trying to reduce unemployment and instead focus solely on keeping inflation low. The proposal by Sen. Bob Corker (Tenn.) and Rep. Mike Pence (Ind.) would end the three-decade-old “dual mandate” of the Fed,…
-
“Fresh Attacks on Fed Move”
“A group of prominent Republican-leaning economists, coordinating with Republican lawmakers and political strategists, is launching a campaign this week calling on Fed Chairman Ben Bernanke to drop his plan to buy $600 billion in additional U.S. Treasury bonds. “The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve…
-
“Fed’s Plosser Says Understanding Crisis May Take 50 Years”
““It will be at least 50 years before we really understand very well what happened in 2008-2009, and we will be interpreting for another 50 years as to whether the Federal Reserve undertook the right policies or the wrong policies,” Plosser said today during an audience discussion at a Fed conference in Jekyll Island, Georgia.…
-
“Ireland Crises Could Cause EU Collapse”
“The president of the European Union has warned that the EU could collapse unless the debt crisis that is gripping the region is resolved. Herman Van Rompuy, president of the European Council, raised the stakes ahead of this evening’s showdown talks between finance ministers in Brussels. With Ireland and Portugal both on the brink of…
-
“Mahathir Says Currency Trading ‘Silly’, Advocates Return to Peg”
“Former Malaysian Prime Minister Mahathir Mohamad, who fought off an attack on the ringgit with capital controls during the Asian financial crisis, said currency trading is “silly” and the world should return to the Bretton Woods System of fixed exchange rates. Currency wars are futile and the U.S. Federal Reserve’s latest quantitative easing plan will…
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