Evaluating QEII: A Rationale to Exit
Fortunately, QEII has not jarred market expectations; mark that up to the lingering low inflation – a typical cyclical pattern following recession. Now, with economic performance clearly improving and...
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Charles Plosser's Keynote Speech at the SOMC Symposium
Click here for a printer-friendly version of Professor Plosser's remarks.EXITShadow Open Market CommitteeMarch 25, 2011New York, New YorkCharles I. PlosserPresident and Chief Executive OfficerFederal...
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Low Interest Rates Conceal A Bigger National Debt
Former White House economist Larry Lindsey took to The Wall Street Journal’s op-ed page today to show how the nation’s debt is actually much worse than most experts think. As interest rates start to...
View ArticleThe Debt Ceiling and Households
Many analysts have emphasized the possibly disastrous consequences of the U.S. failing to raise its debt ceiling. Without the safe harbor of AAA-rated Treasury debt to serve as the common currency in...
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Huge Problems with Worse Answers
As e21 has argued consistently since 2009, bailouts are a function of the inherent fragility of the financial system and would be unlikely to come to an end until the size of the required bailout...
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The Perils of Treasury's New Talking Points on TARP
Click here for a printer-friendly version of this article.The policy debate regarding the merits of TARP has taken an interesting turn in recent weeks with the Treasury Department’s claim that the...
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The Fed's Unwinnable War on Unemployment
The Federal Open Market Committee decided to continue its maturity extension program (aka “Operation Twist’) through the end of the year. While this decision represents a victory, of sorts, for...
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Barclays Says U.S. Treasury Bonds Accurately Measure Risk of Student Loan...
Barclays is the latest entity to perpetuate the myth that the federal government can earn higher returns on investments than private businesses because it finances them with U.S. Treasury debt. An...
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Senate Confirmation of the Fed Chair
Interest in the Fed Chair’s succession is now on par with that of the Chief Justice of the U.S. Supreme Court. A public and Congress, capable of consideration of constitutional questions with regard to...
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Five Questions for Yellen
With President Obama’s nomination of Janet Yellen for Chairman of the Federal Reserve, interest in the Ben Bernanke succession is on par with that of the Chief Justice of the U.S. Supreme Court. A...
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How the Fed is Hurting Seniors
Seniors, wake up and call Janet Yellen. With an increase in interest rates next year, as Chair Yellen implied in her press conference on Wednesday, she can restore your savings accounts to relevance....
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Questions for Ben
Any inflation worries?How does the Fed generate such profits?Is the Fed a SIV?At today’s press conference, Fed Chairman Ben Bernanke will surely be asked whether he’s worried about inflation. The Fed...
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The White House’s Deceptive Primer
In an effort to make their FY 2012 budget simultaneously look as responsible as possible while lacking any meaningful spending discipline, the White House has seized on the concept of “primary...
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The Consequences of Rosy Interest Rate Assumptions
The latest chart from the Mercatus Center’s Veronique de Rugy provides an excellent visualization for a theme we explored in a recent commentary. She looks at the high costs of interest payments on the...
View ArticleEvaluating QEII: A Rationale to Exit
Fortunately, QEII has not jarred market expectations; mark that up to the lingering low inflation – a typical cyclical pattern following recession. Now, with economic performance clearly improving and...
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Inflation Vacation
Teaser: Price increases are happening all around us, but you wouldn't know that from government-calculated inflation numbers.This article originally appeared on National Review Online.A lot of people...
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Mr. Market Withholds His Approval
Teaser: Every year, economists put pen to paper and make projections for the next 12 months. In addition to forecasts for real GDP growth, inflation and consumer spending, they look into their crystal...
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Rate Hike Fears Are Unwarranted
Teaser: How often have we heard the phrase “if the Fed hikes rates too early, the economic recovery will be derailed”? It’s ingrained into the Fed’s mindset and statements like it appear frequently in...
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Ignoring the Yield Curve May Be Dangerous to Your Health
Teaser: Economists clearly have too much time on their hands. "Fed watcher" is no longer part of the job description now that the Federal Reserve provides guidance on what it plans to do. A reliance on...
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Avoiding Optimism Might Be the Medicine the Fed Needs
Teaser: Federal Reserve Vice–Chairman Stanley Fischer’s speech at the 2015 U.S. Monetary Policy Forum in New York centered on the Fed’s asset purchase program and future policy normalization based on...
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