The Federal Reserve’s Federal Open Market Committee, which makes key interest-rate decisions, announced it plans to take no action this go-around. The pace of the recovery has slowed, it says. Employers aren’t hiring. Inflation is actually too low, it notes. But for the moment, it will do nothing more More…
This morning, a little, wonky blog post is creating a lot of controversy. Economics of Contempt writes:
Here’s a scary thought: Let’s say the European sovereign debt crisis flares up again, and one or two Euro banks fail. (Not a bank like UBS or Deutsche Bank, but a medium-sized
Today, Ben Bernanke, the head of the Federal Reserve, testified before the Financial Crisis Inquiry Commission on Too Big to Fail banks and the general financial collapse. (Find Bernanke’s prepared testimony in a PDF here.) But he is getting the most attention for a comment on housing, where he More…
One of the major complaints against immigration — both legal and illegal — is that non-Americans take jobs that could be occupied by citizens during a time of high unemployment. But immigrants actually boost incomes and productivity over time, according to a paper released Monday by More…
Speaking in Jackson Hole, Wyo., this morning, Federal Reserve Chairman Ben Bernanke mentioned a number of further steps the central bank could take to ameliorate the dire economic straits the country is in. The second involved changing the Fed’s communications strategy.
Speaking at a major annual economic conference in Jackson Hole, Wyo., Federal Reserve Chairman Ben Bernanke indicated he would be willing to support further measures by the central bank to help the recovery. But he did not preview any new tactics, instead elaborating on previously discussed and mostly moderate options. More…
Today, the Bureau of Economic Analysis reported that the U.S. economy grew at a 1.6 percent annual pace in the second quarter. The report was a second analysis, revising the number down from an initial estimate of 2.4 percent. That is a dismally slow pace of growth, but More…
For months, a debate has raged over whether the Federal Reserve, the country’s central bank, should do more to help the economy — particularly to gin up more employment. At The Washington Post, Neil Irwin builds on a helpful metaphor from The Nation’s Chris Hayes to explain how these More…
In a new Federal Reserve policy statement, the Federal Open Market Committee said that the pace of recovery has slowed. Conditions have deteriorated, unemployment remains high, bank lending has contracted and things will get better at a “more modest” pace than expected. It is the least optimistic statement this More…
This morning, members of the Federal Open Market Committee are meeting to discuss the country’s monetary policy. They are expected to release a report at 2:15 p.m. reiterating the troubles in the economy and stating the Federal Reserve will keep interest rates near zero for an “extended period.” But with More…
rss