“While some clarification of its price-stability mandate might help, the central bank is already required to keep credit growth in check. Its full legal mandate is as follows: “The Board […]
“While some clarification of its price-stability mandate might help, the central bank is already required to keep credit growth in check. Its full legal mandate is as follows: “The Board […]
“The Federal Reserve, and the Congress, are both playing a high-stakes game of risk. Essentially, the one is betting that it can spend its way out of our recession and […]
“The world has changed since the Federal Reserve decided in November to purchase an additional $600 billion of U.S. Treasury bonds to give the U.S. economy a lift. The U.S. […]
“If I were to default on my debts, the world would see that even trained economists who spend little on their appearance can’t make ends meet. Imagine the global panic, […]
“Most economists think the Fed is unlikely to drastically alter its policy direction, though some of the new members could nudge policy toward more restraint and less activism. Two of […]
“Few economists expect the jobless rate to fall below 9 percent in 2011; the Fed itself projects a range between 8.9 percent and 9.1 percent. That’s why Alice Rivlin, a […]
“The Fed has been buying bonds since early 2009. When a private investor buys bonds, the investor uses cash or sells some existing asset to raise cash and uses that […]
“The Federal Reserve may need to slow or stop its purchases of U.S. Treasuries in response to an accelerating U.S. economy next year, Philadelphia Fed President Charles Plosser said. “If […]
“In layman’s terms, we can think of a swap line as a standing guarantee of U.S. dollar liquidity. If you (as a central banker) ever need greenbacks in a pinch, […]
We are pleased to note that last year’s Sound Money Essay Contest winner, Nicolas Cachanosky, was able to get his winning essay published in New Perspectives on Political Economy! Congratulations […]