David Beckworth
David Beckworth's Latest Articles | 182
Is It Time for the Eurozone to Get Rid of Germany?
Back in April 2010 when it first seemed the Eurozone was about to crack up, I did a post on the lessons of the Eurozone crisis. I argued then that the main lessons... Read »
Maybe FDR Should Get More Blame
I have mentioned many times here how the decision of FDR and his Treasury to devalue the dollar and not sterilize gold inflows sparked a robust recovery from 1933-1936.... Read »
How to Make Central Banks More Accountable for Passive Tightening
Yesterday we learned that despite the ongoing spate of bad economic news in both the Eurozone and the United States, monetary authorities in both places have decided... Read »
The Fed Gets Schooled Again on Central Banking: the Swiss National Bank Edition
I have continually stressed the need for the Fed to (1) publicly and forcefully announce a level target and to (2) back up such an announcement with a commitment... Read »
The Other Side of Household Balance Sheets
A popular explanation for the ongoing economic slump is that the United States is in the midst of a balance sheet recession. This view holds that the vast amount... Read »
Central Banks Still Have Much Ammunition
Ambrose Evans-Pritchard writes there is still much monetary policy can do to support the economy: [W]ith fiscal policy exhausted, the burden must fall on monetary... Read »
It’s Getting Ugly
Michael Darda sees trouble in the decline of long-term yields and attributes it to a negative velocity shock: The U.S. 30-year “long bond” yield has collapsed... Read »
The FOMC Decides on Monetary Stimulus That is Fraught With Uncertainty and Danger
My initial reaction to the FOMC decision this week was disappointment. That has not changed, but after reading other observations and thinking about it some more... Read »
Will the FOMC Repeat the Mistake of September, 2008?
I hope not. As you may recall, the FOMC met a day after Lehman collapsed on September 16, 2008 and decided against lowering the federal funds rates. Yes, the Fed... Read »
The Market Meltdown Highlighted the Fed’s Failures
The market meltdown yesterday and the cumulative market losses of the past few weeks have showcased two important failures of the Fed. First, the Fed has yet to... Read »






