Federal Reserve Articles

Printing Our Way Out of Debt

12:00 AM, Dec 15, 2012

The fiscal cliff is a diversion, designed by politicians to conceal their inability to come to grips with the fact that they continue to spend too much, and refuse to reform a tax structure that reduces the competitiveness of American companies in world markets. No matter what deal is cut, whether before or after the new year, it will at best nibble at the edges of the trillion-dollar annual deficits that are being piled up.

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More on Obama's Late Night Bluster

3:14 PM, Sep 20, 2012

A perceptive e-mail from a friend from the world of finance:

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Quantitative Easing Hurts the 99 Percent

The Fed's policy is crony capitalism.
8:50 AM, Sep 17, 2012

Last week, Federal Reserve chairman Ben Bernanke announced the central bank would begin another round of quantitative easing, the term of art for the Fed's policy of purchasing securities in an attempt to stimulate the economy.

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Bernanke Sets Job Creation as the Fed's Top Priority

11:00 PM, Sep 14, 2012

So it’s come to this. A former professor of economics turned central banker can keep policymakers and investors on the edge of their seats, waiting for his latest pronouncement. That tells us two things.

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It Isn't Easy to Decide Whether to Ease

11:00 PM, Aug 24, 2012

Federal Reserve Board chairman Ben Bernanke now has two reasons to disappoint those who are hoping he will use his speech next week at the conclave of central bankers in Jackson Hole, Wyoming, to launch the good ship QE3.

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The Economy Is Slowing, but Perhaps Not for Long

11:00 PM, Jul 20, 2012

Slow, slower, and maybe even stop—that’s a quick summary of how Federal Reserve Board chairman Ben Bernanke sees the U.S. economy.

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Help Us Obi-Wan Bernanke

10:31 AM, Jul 17, 2012

Robert Shrum is hoping for an assist from Ben Bernanke. Perhaps, Shrum writes, the chairman will have the courage to pull a John Roberts, launch QE3, and keep a staggering economy sufficiently upright that "Obama may actually be able to run on a decidedly more upbeat path through the fall."

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Sound Dollar Act Seeks Single Mandate for Federal Reserve

4:44 PM, Mar 05, 2012

With the American economy still struggling to recover and its long-term structural strength in question, policymakers and politicians are focusing on the Federal Reserve.

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Twisting in the Wind

Ben Bernanke’s diminishing returns.
Oct 03, 2011

It didn’t take long for the snark attack to begin among the Big Money crowd. Less than 24 hours after the Federal Reserve announced its latest easy-money plan to goose the flaccid U.S economy, investors were already deriding “Operation Twist” as “Operation Fail.” Almost everything that was supposed to go up went down—and vice versa. Global stock markets plunged, oil prices fell, the dollar rose, and inflation expectations tumbled despite the central bank’s decision to swap $400 billion of short-term Treasury bonds for ones of longer duration over the next nine months. It was like Opposite Day on Wall Street.

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Bernanke Takes a Break

11:00 PM, Aug 26, 2011

“Don’t just do something, stand there,” President Ronald Reagan once advised his staff.

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Heavy Hand

1:43 PM, Aug 26, 2011

In the Washington Post, Camden Fine, president and chief executive of the Independent Community Bankers of America, writes, “I was astounded this month when the Federal Reserve announced its intention to keep interest rates at zero percent for at least the next two years. I kept staring at that number, 2013, assuming that it was a mistake.”  He continues, “In my view, the Fed’s policy is nothing more than a backdoor bailout for the Wall Street mega-banks and investment houses; it amounts to the back of the hand for the community banks of this country.”

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Structural Economic Problems More Worrying than Cyclical Ones

11:00 PM, Aug 12, 2011

President Obama blames the recent turmoil in financial markets on floods in Japan and Republicans who won’t raise taxes. Republicans blame roiling markets on the president and Democrats who won’t cut spending. The Europeans blame short-sellers.

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Fear the Fed

7:01 AM, Aug 10, 2011

A businessman and investor for whose judgment I have the highest regard sends this email about yesterday’s Fed announcement:

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A Golden Moment?

It’s not only fiscal policy that lacks a rudder.
11:55 AM, Jul 24, 2011

Judy Shelton makes the case in the new issue of THE WEEKLY STANDARD for the “Gold Standard or Bust.” Sound finances, she points out, require sound money, and sound money, it turns out, seems to require a dollar as good as gold—i.e., a return to a gold standard.

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Happy Hour: 'No One Can Ever Scare Us From Being Norway'

6:00 PM, Jul 22, 2011

Norwegian Prime Minister Jens Stoltenberg: "I have message to the person who attacked us and the people who are behind it: You're not going to destroy us. You're not destroying our democracy and our work for a better world. We're a small country but a very proud country. No one can bomb us to be quiet. No one can shoot us to be quiet. No one can ever scare us from being Norway."

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Happy Hour: USA! USA! USA!

6:00 PM, Jul 13, 2011

The U.S. women's national team will advance to the finals of the women's World Cup.

Federal Reserve chair Ben Bernanke says he's open to another round of quantitative easing.

Meanwhile, the price of gold got a big boost after Bernanke's comments.

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The Daily Grind: Bernanke is Clueless

6:30 AM, Jun 23, 2011

Jennifer Rubin: "For Obama, it’s all about getting out of Afghanistan"

We must repeal the Obamacare plan for Medicare says... Dick Gephardt?

Well, that's reassuring -- Bernanke is clueless.

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Fed: Economic Recovery Slower than Expected

3:12 PM, Jun 22, 2011

A press release from the Federal Reserve indicates "the economic recovery is continuing at a moderate pace, though somewhat more slowly than the Committee had expected." 

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The Sharp Pencil Test

Time for a real growth agenda
Jun 13, 2011

It’s easy to get caught up in the details of the political battle of the day over the nation’s economic and fiscal health—after all, that’s what we do in Washington. Unfortunately, many of our decision-makers and opinion leaders possess the skills required for political infighting in greater abundance than the capacity for thoughtful analysis. Their focus on the fight and on winning the 24-hour news cycle has produced a country that designs policy for tactical political advantage and not for the efficient use of scarce resources.

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Economic Speed Bump or Double Dip Recession?

There are no easy political solutions to our troubling economic outlook.
11:01 PM, Jun 03, 2011

The only question now is whether the slowdown in the economy is what economists at the HSBC bank call “a speed bump” on the road to continued recovery, or the first step down the road to a double-dip recession. No less an expert than former Federal Reserve Board chairman Alan Greenspan answers, “I don’t know” when asked whether it’s speed bump or double dip.

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Study: Weak Dollar and Federal Reserve Responsible for Sky-High Gas Prices

11:00 PM, May 15, 2011

The weakening of the dollar since 2008 has added 56.5 cents to the price of gasoline, the congressional Joint Economic Committee (JEC) has found. The average price of gasoline would be $3.40 per gallon, instead of the current average price nationally of nearly $4, if the dollar hadn’t declined.

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Needed: A Candidate Who Can Argue Political Economy

It all fits together.
1:05 PM, Apr 26, 2011

In an important piece in today's Wall Street Journal, Lew Lehrman explains the connection between monetary and fiscal policy—fiscal policy will almost inevitably tend toward deficits and debt if the monetary authorities are (virtually) unconstrained in financing that debt.

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