Economist Bob Wenzel, who writes the excellent blog, Economic Policy Journal, was invited by the Fed to give a talk at the NY Federal Reserve Bank on April 25, 2012. He is an Austrian School economist and delivered a great speech on why they are doing everything wrong. Wenzel holds back [...]
In the wake of recent market volatility and the Federal Reserve’s Open Market Committee meeting on April 24-25, calls for another round of Fed easing, ”QE3,” have again been stoked. It is worth sorting out the pros and cons of such a move for both the U.S. economy and financial markets.
For those of you who have the patience to watch Ben Bernanke give a lecture at George Washington University on the origins of the Fed and the role of the Fed in “curing” the Great Depression and the lead up to the current crisis, here are the two lectures for your pleasure. We will be [...]
You know when they start talking about a politician’s legacy that he is toast. I think that’s what happens when you think you can run the economy and fail. The lesson being that you can’t successfully “run” the economy from the top down. Ben Bernanke has still not learned that.
Bernanke will probably be fired [...]
I wish to thank Keith Weiner and Mike Shedlock for their discussion on fractional reserve banking (FRB). For what it’s worth, Mish, I don’t think that Keith got it wrong or that he had intended to write a definitive article on the topic. I appreciate the fact that you have written about duration mismatch over [...]
Yet another CGI cartoon from XtraNormal. (I’ve got to do one of these.) This is a pretty good explanation of quantitative easing. I have no real quibbles with it other than their take on price inflation, which has been flat to declining–even according to ShadowStats:
Since it is difficult to know what prices really [...]
This Cato report on Federal Reserve employee pay is interesting because it shows the significant differences between government and private company compensation practices. I urge you to read the article; it’s not long.
One could argue that they have all these really bright economists working away in the Federal Reserve system which would raise the [...]
Here are the Obama Administration’s three nominees to the Federal Reserve Board:
Janet Yellen, 63 President, Federal Reserve Bank of San Francisco Prior Positions: Professor, University of California, Berkeley; Chair , White House Council of Economic Advisers; Governor, Federal Reserve Board Education: Yale , Ph.D. (Economics); Brown , B.A. (Economics) Academic Interests: Unemployment and labor [...]
By Jeff Harding.
[Updated October 1, 2009]
I try to balance my day by reading well known optimist and pessimist economists. My two favorites are Brian Wesbury of First Trust in Chicago as my “Mr. Sunshine” and Dave Rosenberg as my “Joe Btfsplk*” (the name “Dr. Doom” was already taken by Nouriel Roubini). I know [...]