The FOMC, the policy committee of the Federal Reserve, released Wednesday its statement on the economy, restating its pessimism about economic growth while pledging to inject additional money into the economy by purchasing long-term bonds while simultaneously selling off some of the short-term bonds it currently holds.
The Federal Open Market Committee, the guiding policy committee of the Federal Reserve, is gaining increasing attention from lawmakers and politicians on both sides of the aisle. Conservatives like Rep. Ron Paul (R-Texas) have dominated discussion over the Fed, with their accusations of currency devaluation and the “inflation tax.”
The Federal Reserve’s policy committee, the Federal Open Market Committee (FOMC), met today and voted on what course of action they would take with respect to U.S. monetary policy in the coming months. Their statement reflects the commonly-held perception that the recovery from the Great Recession has stagnated:
Wednesday morning’s press conference with Federal Reserve Chair Ben Bernanke was greeted unenthusiastically, as many in the press said the event contained little substance. Still, some news this morning may come as an unwelcome surprise to anyone who went along with Bernanke’s mild optimism. Unemployment figures have taken More…
National Review published an extensive interview with Rep. Ron Paul (R-Tex.) Wednesday. The discussion centered primarily around Paul’s views on monetary policy and the Federal Reserve. Paul has been a longtime opponent of the Fed — he titled his book End the Fed — and was tapped to head the More…
In a long speech this morning in Boston, Federal Reserve Chairman Ben Bernanke implied that the central bank will take additional action to help the economy, in the face of sustained high unemployment rates, below-target inflation and sluggish growth.
As always with the Fed, the statement came in cagey, More…
Some very just desserts on this Columbus Day morning: Peter Diamond, a lauded economist at MIT, won the Nobel Prize, along with Dale T. Mortensen and Christopher A. Pissarides. The three economists won for their examination of “markets with search frictions.” In Diamond’s case, he focused on labor markets More…
Today’s poor jobs report cements the fact that the recovery has stalled out and American workers are facing years, if not a decade, of sluggish wage growth and high unemployment. Therefore, there is new pressure for the Federal Reserve to try new measures to aid the recovery. The Washington More…
Yesterday, Federal Reserve Chairman Ben Bernanke gave a speech to the Rhode Island Public Expenditure Council. He argued that the United States is on an unsustainable fiscal course, and that while he does not advise cutting spending in the next two years, after 2012 Congress needs to get serious More…
BusinessWeek has a great profile of Tom Hoenig, the president of the Federal Reserve Bank of Kansas City. Through the sluggish recovery, the other members of the Federal Open Market Committee have repeatedly voted to keep interest rates at scratch for an “extended period.” But not Hoenig. For More…
rss