The Big Day for the Fed
On January 25th, 2012, in addition to its regular statement from the Federal Open Market Committee, the Federal Reserve published for the first time two additional... Read »
The Fed’s Sunshine Is Blinding Me
Federal Reserve Chairman Ben Bernanke believes government functions best in sunshine, when decision-making is transparent and predictable. I usually applaud this... Read »
The Fed, Stocks & Chimichurri
The Fed has extended its low-interest-rate forecast to 2014. In addition, it indicated a continuing commitment to extend the maturity of the Fed’s portfolio. ... Read »
The Fed will Keep Rates at “Exceptionally Low Levels” Through Late 2014
The Press Release describing the decisions of the Fed’s monetary policy committee decisions was released this morning, and it is very similar to the press... Read »
Personal Income Growth in America Now Only a Memory
Another startling statistic that gave me pause: government benefits are now required for nearly half of Americans. In the latest census data, covering the period... Read »
The New Communications Strategy of the Fed
Today the FOMC will embark upon its new communications strategy, by which it will release information on the interest-rate path, consistent with achieving its dual... Read »
Confusing Gradual Bankruptcy with Economic Recovery
We have a wintry landscape here in Baltimore…or what is left of one. But forget the weather, happy days are here again. At least, that is what you might think... Read »
What We Do with the Debt Matters
Here is a follow up to my previous blog entry on the meaning of gross debt. Paul Krugman thinks that I went too far when I argued that there is no need to worry... Read »
The IMF Downgrades Global Growth But Sees No Fallout For The US
Does the International Monetary Fund’s diminished outlook for the global economy lay the groundwork for thinking that recession risk is elevated for the U.S.?... Read »
Capital Gains Taxes Are Going Up
The top tax rate on long-term capital gains is currently 15%. That’s why Mitt Romney is spending so much time talking about his tax returns. That revelation has... Read »






