Monthly Archives: August 2012

Two years ago, in the JH 2010 version Bernanke concluded: The Federal Reserve is already supporting the economic recovery by maintaining an extraordinarily accommodative monetary policy, using multiple tools. Should further action prove necessary, policy options are available to provide … Continue reading →

After reading the introduction to the just released book edited by John Taylor et al, I noticed the words money and monetary policy are conspicuously missing: Government Policies and the Delayed Economic Recovery examines the reasons for the weak recovery from … Continue reading →

This is a sample of the high-level discussion in late July 2008: Following the collapse of Fannie Mae (FNM) and Freddie Mac (FRE), Ben Bernanke’s Congressional testimony last week had Fed watchers predicting interest rates would remain flat, or possibly … Continue reading →

Michael Sivy writes at Time: The curious capitalist: In addition to a host of warnings, last Wednesday’s Congressional Budget Office report did contain a little bit of good news. The economy will grow slightly faster in the second half of … Continue reading →

In a post yesterday, Scott Sumner writes: Bernanke claims money has been “extraordinarily accommodative,” based on the low interest rates and fast money supply growth.  Thus he simply walks away from his 2003 definition of the stance of monetary policy.  And … Continue reading →

In a post today Jim Hamilton comments on the Fed´s balance sheet. On the Fed´s emergency lending: Some have criticized the Fed’s emergency lending on the grounds that the Fed took all these extraordinary actions and yet the economy still … Continue reading →

Glenn Hubbard says: “You have to give Ben Bernanke and the Fed high marks for much of their actions,” Columbia economist R. Glenn Hubbard told Reuters TV on Tuesday, referring to the central bank’s actions during the 2008 financial crisis. … Continue reading →

The story begins in 1961 because that´s when economics came of age and economists an indispensable input into the formulation of executive policy decisions. According to Arthur Okun (1970), an active participant, first as staff member and later Chairman of … Continue reading →

Jon Hilsenrath reports: Federal Reserve Chairman Ben Bernanke, in a letter responding to questions posed by U.S. Rep. Darrell Issa (R., Calif.), chairman of the House oversight committee, defended actions the Fed has taken to support the economy and said … Continue reading →

James Pethokoukis puts it well: I understand why some conservatives are fond of the idea of abandoning fiat money and returning to the gold standard, especially after the Great Recession and ongoing euro crisis — not to mention fears the … Continue reading →