The Washington Independent

Posts Tagged monetary policy

Ideas swirling for consumer debt relief

By | 10.03.11 | 2:17 pm

Two writers for Reuters penned a piece today proposing a program of debt forgiveness for U.S. consumers. Arguing the national economy is sluggish due to high household debt — roughly 90 percent of GDP, a decline of 100 percent since the economic downturn began — financial institutions should negotiate More…

Anti-stimulus Federal Reserve leaders were appointed by boards dominated by business executives

By | 09.22.11 | 5:20 pm

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…

Fed is pessimistic about economic growth, will attempt stimulus through ‘operation twist’

By | 09.21.11 | 4:15 pm

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.

Bernanke Signals That the Fed Might Take Action

By | 10.15.10 | 9:30 am

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…

Bernanke to Congress: Address the Debt

By | 10.05.10 | 2:26 pm

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…

The Fed’s Dissenting Hawk

By | 09.24.10 | 11:00 am

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…

Bernanke on the Housing Bubble

By | 09.02.10 | 6:01 pm

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…

The Federal Reserve’s Communications Strategy

By | 08.27.10 | 1:39 pm

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.

Fed Announces Moderate Policy Change to Boost Recovery

By | 08.10.10 | 3:46 pm

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…

Federal Reserve Meets, Unlikely to Change Policy Course

By | 08.10.10 | 9:48 am

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…