Monetary Policy
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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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“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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“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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“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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“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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“Greenspan vs. Geithner in ‘weak dollar’ debate”
“Alan Greenspan, former chairman of the Federal Reserve, and U.S. Treasury Secretary Timothy Geithner locked horns Thursday over whether the Obama administration is supporting a weak dollar to bolster the economy. Greenspan, in an op-ed piece in the Financial Times, claimed that the U.S. government is deliberately weakening the dollar, while Geithner asserted in an…
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“Mission Impossible: Rescuing the Dollar”
“In Dubai last week, actor Tom Cruise ran around the outside of the world’s tallest building suspended by a cable 2,700 feet in the air while shooting a scene for his fourth Mission Impossible film. The stunt was Cruise’s “most dangerous yet,”reported London’s Daily Mail. Also last week, the Federal Reserve announced it would create another $600…
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“Has the Fed Been a Failure?” – Selgin, Lastrapes and White
“As the one-hundredth anniversary of the 1913 Federal Reserve Act approaches, we assess whether the nation’s experiment with the Federal Reserve has been a success or a failure. Drawing on a wide range of empirical research, we find the following: 1) The Fed’s full history (1914 to present) has been characterized by more rather than…
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“Leading Chinese credit rating agency downgrades USA government bonds”
“One of China’s leading credit rating agencies has downgraded United States of America government debt in response to what it sees as deliberate devaluation of the dollar by quantitative easing and other means. If China, now the second biggest economy in the world, stops buying US government bonds this could have a very negative effect…
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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…
-
“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…
-
“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,…
-
“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.…
-
“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…
-
“Greenspan vs. Geithner in ‘weak dollar’ debate”
“Alan Greenspan, former chairman of the Federal Reserve, and U.S. Treasury Secretary Timothy Geithner locked horns Thursday over whether the Obama administration is supporting a weak dollar to bolster the economy. Greenspan, in an op-ed piece in the Financial Times, claimed that the U.S. government is deliberately weakening the dollar, while Geithner asserted in an…
-
“Mission Impossible: Rescuing the Dollar”
“In Dubai last week, actor Tom Cruise ran around the outside of the world’s tallest building suspended by a cable 2,700 feet in the air while shooting a scene for his fourth Mission Impossible film. The stunt was Cruise’s “most dangerous yet,”reported London’s Daily Mail. Also last week, the Federal Reserve announced it would create another $600…
-
“Has the Fed Been a Failure?” – Selgin, Lastrapes and White
“As the one-hundredth anniversary of the 1913 Federal Reserve Act approaches, we assess whether the nation’s experiment with the Federal Reserve has been a success or a failure. Drawing on a wide range of empirical research, we find the following: 1) The Fed’s full history (1914 to present) has been characterized by more rather than…
-
“Leading Chinese credit rating agency downgrades USA government bonds”
“One of China’s leading credit rating agencies has downgraded United States of America government debt in response to what it sees as deliberate devaluation of the dollar by quantitative easing and other means. If China, now the second biggest economy in the world, stops buying US government bonds this could have a very negative effect…
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