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“Last year the consensus opinion was that we are all Keynesians now. Virtually everyone in the commentariat believed that John Maynard Keynes’s solution for the Great Depression—heavy government spending to resuscitate the economy—was also the answer t …
READ MORE“We may all be Austrians now. Not since the New Deal has Austrian economics enjoyed the political popularity it does now. Austrian economists are awfully popular with the Republican Party, especially its Tea Party wing. Peter Schiff, the Austrian econo …
READ MORE“Although the credibility of the Fed has been questioned for years in some quarters, the first major crack in the wall took place in May, 2009, when Elizabeth Coleman, inspector general of the Federal Reserve, was directly and repeatedly questioned abo …
READ MORE“In 2003, the Federal Reserve Bank lowered the Fed funds rate down to 1.25%. This was the lowest level that the Fed funds rate had been since 1954. Again, the low interest rate gave birth to the housing and credit boom. This rally or boom cycle lasted …
READ MORE“Twenty-four conservative economists and writers have published an open letter calling upon the Federal Reserve to abandon a second round of “quantitative easement” that entails borrowing another $600 billion in U.S. Treasury bonds. “The planned asset …
READ MORE“Inflation, as measured by the IPCA-15 price index, quickened to 0.86 percent in the month through mid-November from the same period a month earlier, the fastest pace in 9 months, the national statistic agency said today. Economists forecast a 0.72 per …
READ MORE“Faced with unusually sharp ideological attacks after its latest bid to stimulate the economy, the Federal Reserve now faces a challenge far removed from the conduct of monetary policy: how to defend itself in a hyperpartisan environment without becomi …
READ MORE“Brazilian economists raised their forecast for inflation this year for the tenth consecutive week, as food costs pressure consumer prices further beyond the government’s target. Consumer prices will rise 5.58 percent this year and 5.15 percent in 2011 …
READ MORE““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 moneta …
READ MORE“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 maximu …
READ MORE“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 …
READ MORE“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 …
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