Economy News

from AIER

Established 1999

New England, USA

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Central Banking

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    The Yo-Yo Tactic: Stop and Go Economics

    In an op-ed for the Wall Street Journal, Fed Chairman Ben Bernanke commented on his “exit strategy”. There is a large amount of money floating around in the economy, and the Fed is finally starting to worry about it. Thus far, banks have held back the flow by keeping high reserves, but as Bernanke says in his…

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    It’s October 1931

    “We are now more than two years into the Great Recession, which began in December 2007. In the Great Depression, this was the point where the Fed decided to raise interest rates to keep the dollar from depreciating (after Britain left the gold standard.) Mr. Bullard of the St. Louis Fed wants to see “at…

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    “Shughart: Bernanke agonistes”

    “Mr. Bernanke has become something of a lightning rod for critics on the left, who think his response to the financial crisis that triggered the recession has been too timid, and for those on the right, who charge that the Fed has been overly aggressive and will be unable to unwind its easy-money policy and…

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    “The Fed’s Anti-Inflation Exit Strategy Will Fail”

    “Federal Reserve Chairman Ben Bernanke has explained his exit strategy to prevent future inflation. The Fed recently began to pay interest to banks on the reserves they hold in their vaults. Using this new tool, it claims the ability to get banks to keep the money instead of lending it out, thus containing the money…

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    A History of the Federal Reserve: 1913-1951

    “A history of the Federal Reserve is a history of the decisions made and the ideas that prompted them. The chapters that follow allow the participants to explain their action and the reasons for them, in their own words. These decisions produced very different results: a steep postwar recession in 1929-21, a period of stability…

  • •

    Interview With George Selgin

    “I use the term to mean laissez-faire banking — banking without any special government regulations or restrictions. Like free trade, it’s an ideal concept. It doesn’t refer to any specific or actual banking system, although some, like Scotland’s in the early 19th century, came close. My own ideal version of free banking would have no…

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    Bernanke is Time’s Person of the Year

    Bernanke is Time’s Person of the Year Steve Horwitz The Austrian Economists

  • •

    The Rationale of Central Banking and the Free Banking Alternative

    “In the present century centralised banking systems have come to be regarded as the usual concomitant, if not one of the conditions of the attainment of an advanced stage of economic development. The belief in the desirability of central bank organisation is universal. Recently also there have been attempts to widen the unit of control…

  • •

    The Yo-Yo Tactic: Stop and Go Economics

    In an op-ed for the Wall Street Journal, Fed Chairman Ben Bernanke commented on his “exit strategy”. There is a large amount of money floating around in the economy, and the Fed is finally starting to worry about it. Thus far, banks have held back the flow by keeping high reserves, but as Bernanke says in his…

  • •

    It’s October 1931

    “We are now more than two years into the Great Recession, which began in December 2007. In the Great Depression, this was the point where the Fed decided to raise interest rates to keep the dollar from depreciating (after Britain left the gold standard.) Mr. Bullard of the St. Louis Fed wants to see “at…

  • •

    “Shughart: Bernanke agonistes”

    “Mr. Bernanke has become something of a lightning rod for critics on the left, who think his response to the financial crisis that triggered the recession has been too timid, and for those on the right, who charge that the Fed has been overly aggressive and will be unable to unwind its easy-money policy and…

  • •

    “The Fed’s Anti-Inflation Exit Strategy Will Fail”

    “Federal Reserve Chairman Ben Bernanke has explained his exit strategy to prevent future inflation. The Fed recently began to pay interest to banks on the reserves they hold in their vaults. Using this new tool, it claims the ability to get banks to keep the money instead of lending it out, thus containing the money…

  • •

    A History of the Federal Reserve: 1913-1951

    “A history of the Federal Reserve is a history of the decisions made and the ideas that prompted them. The chapters that follow allow the participants to explain their action and the reasons for them, in their own words. These decisions produced very different results: a steep postwar recession in 1929-21, a period of stability…

  • •

    Interview With George Selgin

    “I use the term to mean laissez-faire banking — banking without any special government regulations or restrictions. Like free trade, it’s an ideal concept. It doesn’t refer to any specific or actual banking system, although some, like Scotland’s in the early 19th century, came close. My own ideal version of free banking would have no…

  • •

    Bernanke is Time’s Person of the Year

    Bernanke is Time’s Person of the Year Steve Horwitz The Austrian Economists

  • •

    The Rationale of Central Banking and the Free Banking Alternative

    “In the present century centralised banking systems have come to be regarded as the usual concomitant, if not one of the conditions of the attainment of an advanced stage of economic development. The belief in the desirability of central bank organisation is universal. Recently also there have been attempts to widen the unit of control…