Bernanke “Prepared” to Do More for Jobs

By: Tuesday July 17, 2012 8:15 am

After three months of ugly job growth, poor retail sales, missed inflation targets and forecasts of minimal economic growth (most analysts reduced their estimate to around 1.1% for the second quarter of 2012), Ben Bernanke finally announced his willingness to “be prepared” for further steps to boost the economy. The Federal Reserve stands ready to [...]

Can We Trade Ben Bernanke for Mark Zuckerberg?

By: Tuesday July 17, 2012 7:15 am

Mark Zuckerberg, the kid who made himself a billionaire by combining the internet with the well known human traits of loneliness, voyeurism and exhibitionism has now wisely used his fabulous wealth to cut down on his mortgage payments.  He’s managed to cut the interest rate on his multimillion dollar home mortgage to just a few [...]

Bernanke Continually Keeping Powder Dry, Despite Clear Evidence of Economic Slowdown

By: Thursday June 21, 2012 7:38 am

We know that the Federal Reserve kept the status quo on its monetary policies yesterday, extending Operation Twist (selling short-term maturities and buying long-term ones to try and reduce longer-term interest rates) through to the end of the year, but going no further. But the Fed released another set of data yesterday, its updated forecasts [...]

Ben Bernanke’s Office Phone Number Given Out at Netroots Nation Keynote

By: Saturday June 9, 2012 7:43 am

At a keynote address this morning at Netroots Nation, Erica Payne of The Agenda Project gave out Ben Bernanke’s office telephone number, and urged the audience to “call him every day for the next couple weeks,” specifically urging him to get Jamie Dimon to step down from the board of the New York Federal Reserve. [...]

The “Better But Not Good Enough” Economy Conundrum

By: Monday March 26, 2012 8:15 am

Ben Bernanke made a speech today about the economy and the labor market that I’ve seen variously described as too pessimistic and too optimistic. I think both sides are right. You can see that in the first paragraphs: My remarks today will focus on recent and prospective developments in the labor market. We have seen [...]

Fed Sets Explicit 2% Inflation Target

By: Thursday January 26, 2012 2:32 pm

The Federal Reserve did not only vow to maintain a zero interest-rate policy through the end of 2014 (a policy that has its critics, incidentally). They also set an explicit interest rate target for the first time ever, as far as I can tell. The Federal Reserve took the historic step on Wednesday of setting [...]

GAO Report Shows Multiple Conflict of Interest Cases at Fed Regional Banks

By: Wednesday October 19, 2011 12:35 pm

Federal Reserve chair Ben Bernanke acknowledged yesterday that the central bank may need to do a better job dealing with asset bubbles. I think I just heard Dean Baker’s head explode. Specifically, Bernanke said that he would move to use interest rate policy and not just regulatory tools to head off bubbles. “In the decades [...]

Politicizing the Fed: GOP Leaders Warn Bernanke Against Monetary Expansion

By: Wednesday September 21, 2011 6:10 am

In a rare attempt to intervene in the policymaking of an independent agency, the four top Republicans in the House and Senate wrote a letter to Federal Reserve Chair Ben Bernanke, warning him against further steps to use monetary policy to boost the struggling US economy. The group, which included the top two Republicans in [...]

All Eyes on the Fed as Two-Day Meeting Begins

By: Tuesday September 20, 2011 1:15 pm

Agreed with Joe Nocera: if you want to take a look at the decisions that will matter on jobs and the economy for the next 14 months, you can’t look to Congress, or the White House. You have to look to the Federal Reserve, which is holding a two-day meeting to assess all potential avenues [...]

The Fed Warms to More Monetary Easing

By: Friday September 9, 2011 12:18 pm

Realistically, it’s not all that worth discussing the American Jobs Act as a policy matter, because unless the President uses the Super Committee, the plan is fairly DOA. Republicans may cut it to ribbons and pass the parts they like, but that’s about it. And the Super Committee option, which would require the President to [...]

Fed Potentially Warming to Additional Monetary Stimulus

By: Wednesday August 31, 2011 2:15 pm

Yesterday, Chicago Fed President Charles Evans came out in favor of reality, seeing the economy as it is and the Fed with a mandate to provide whatever relief they can: The Federal Reserve should take further easing steps because the economy is “moving sideways” and the labor market is in a recession-like state, said Charles [...]

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