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“To many observers, the Federal Reserve’s extraordinary policy actions during the recent crisis averted a financial Armageddon and curtailed the depth and duration of the recession (Rudebusch 2009). To combat panic and dislocation in financial markets, …
READ MORE“The Federal Reserve is widely expected to leave rates unchanged at its policy-setting meeting today, but low inflation and continued uncertainty about the recovery has economists pushing their forecasts for the eventual rate increase even further into …
READ MORE“Inflation worries the general public much more than it does the economics profession, and economists remain perplexed as to exactly why. The costs that concern economists are inflation’s deadweight loss. But that is only a part of the losses that conc …
READ MORE“Judy Shelton is an economist who has written 15 pieces for the Wall Street Journal over the past two years. She is the author of several books including Money Meltdown in 1994 and The Coming Soviet Crash in 1989. In addition, she is on the board of th …
READ MORE“There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at …
READ MORE“No news isn’t always good news. When Federal Reserve officials meet this week, almost two months will have passed since their last policy-setting conclave, the longest such stretch of the year. And it has been a pretty woeful period for financial mark …
READ MORE“The current flap over the sustainability of Greece’s membership in the European Economic and Monetary Union (EMU) is reminiscent, in many ways, of the events leading up to the collapse of the Bretton Woods system—another ultimately untenable currency …
READ MORE“Anna Schwartz must be the oldest active revolutionary on earth. Born in 1915 in New York, she can still be found nearly every day at her office in the National Bureau of Economic Research on Fifth Avenue, where she has been tirelessly gathering data s …
READ MORE“Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold stand …
READ MORE“In a recent article in the Cato Journal dealing with the transparency of Federal Reserve monetary policy, Federal Open Market Committee (FOMC) Chairman Ben Bernanke provided an authoritative account of current Federal Reserve strategy (Cato Journal, v …
READ MOREChile has rebounded strongly from the global recession, in spite of the devastating earth quake that hit early in 2010. In response to the financial crisis, the monetary authorities cut its key lending rate from 8.25 per cent in September 2008 all the …
READ MORE“For 97 years the 12 regional banks of the Federal Reserve system have operated relatively free of political interference from Washington. The looming financial reform bill threatens that independence, not least through an effort to impose new presiden …
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