Tags » Greenspan

Give the Fed a new compass. We´re going in the wrong direction

According to the news:

Friday’s employment report clears the way for the Federal Reserve to raise short-term interest rates by a quarter-percentage point at its Dec.

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NGDP Growth

Greenspan´s last 10 years and Bernanke/Yellen´s first Decade

No visible difference in the behavior of inflation, which remained closer to “target” during Greenspan´s last decade.

There´s a big difference in the behavior of unemployment, much lower during Greenspan´s tenure. 153 more words

Monetary Policy

What I’m reading – Bernanke’s Courage to Act

One of my favourite passages in Ben Bernanke’s memoir of the financial crisis and its aftermath, The Courage to Act, describes how, on the way to the Federal Reserve building to deal with the imploding Bear Stearns, Bernanke takes the time to email his assistant Rita Proctor: “Pls order a couple of muffins and oj for me. 457 more words

Macroeconomy

“Looking for Wally when there are many Wallies”

That well describes the challenges faced by monetary policymakers according to this piece from Bloomberg Business “Are we tight yet? The Fed´s problem in finding the neutral rate… 1,103 more words

NGDP Growth

Greenspan 1966: Fiat Money Steals From The Rich To Give To The Poor

In Alan Greenspan’s famous (famous to us Econ nerds, that is) essay of 1966 entitled Gold And Economic Freedom, the then-young economist, writing with the subtext of condescension, resentment, and hint of conspiracy-theorizing prevalent among (Ayn) Randians, decried America’s departure from the Gold Standard. 2,376 more words

Economic Theory

The Fed Put May Be Over

The big announcement on interest rates last week from the Federal Reserve’s Open Market Committee was a big nothing. That’s right, after all the talk about rate hikes in June and definitely in September, it didn’t come. 546 more words

Market Commentary