Influential Regional Fed President Concedes Need for Monetary Action Against Unemployment

By: Friday September 21, 2012 6:15 am

I don’t know whether this is a positive sign about policymakers recognizing the depth of our economic problems, or a negative sign about the depth of our economic problems. But the President of the Minneapolis Federal Reserve, Narayana Kocherlakota, set a target unemployment rate he would like to see before the Fed raises the federal [...]

Europe Scrambles to Hold Together Currency, Ruling Governments

By: Tuesday June 15, 2010 12:37 pm

Via Yves Smith, the French financial group AXA finds the rescue package for the eurozone insufficient and only a way to buy time before the eventual fundamental changes play out. Ms Zemek [head of global fixed income at AXA] said the rescue had bought a “maximum” of 18 months respite before deeper structural damage hits [...]

EU Will Create “Stabilization Fund”

By: Saturday May 8, 2010 8:50 am

The last couple weekends in Europe feel like a lot of weekends in the US did circa mid-2008, where giant deals like Bear Stearns or WaMu would get worked out and announced late on Sunday. The latest is that the EU will set up an emergency fund to deal with the burgeoning sovereign debt crisis. [...]

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