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“Markets Get Ready to Navigate Fed’s Departure” – WSJ
“Senior Fed officials believe they will be able to push up the fed-funds rate, the traditional benchmark for short-term interest rates, but not by the usual means of simply selling relatively small amounts of Treasury securities to soak up bank reserves. Instead, they are looking at a new tool, raising the interest rate that the […]
April 25, 2011
Deficit Spending on the Backs of the Poor
Rejecting any serious cuts to government spending, President Obama stated recently, “Nothing is easier than solving a problem on the backs of people who are poor, for people who are powerless and don’t have lobbyists or don’t have clout.” Exactly. In the context of Obama’s much-discussed budget speech of a few days ago, one would […]
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