With Republicans in Congress unwilling to pass President Obama’s jobs bill, many believe that the Federal Reserve is the only institution left that can lift the economy out of its seemingly perpetual slump.
While much of the discussion around the role of the Fed in improving the economy has centered on the actions of Federal Reserve Chairman Ben Bernanke, the Occupy Wall Street movement will try a different tack today by marching on the country’s regional Federal Reserve banks — pivotal but often More…
After the FOMC, the Federal Reserve policy committee, voted Wednesday to attempt to stimulate the economy by continuing to target low-interest rates while swapping short-term bonds for long-term bonds — in what is known as “Operation Twist” — Republicans in Congress have reacted by accusing the Fed of engaging 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…
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…
The release of the Fed’s 2004 transcripts and my initial post have ginned up a number of posts and stories — including ones by Ryan Grim, Yves Smith, Matt Yglesias, Paul Krugman and Ryan Avent. In his story, Grim pulls out what sounds More…
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