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 [...]

Federal Reserve Punts on Further Action to Aid Economy

By: Tuesday December 13, 2011 11:34 am

The Federal Reserve made no changes after its latest FOMC committee, staying the course of a modest monetary easing program and keeping the federal funds rate at a low level, until mid-2013, according to the statement. In the release, the Fed writes that the economy undertook moderate expansion since their last meeting in November, “notwithstanding [...]

Federal Reserve Revised Growth Estimates Show High Unemployment as Far as the Eye Can See

By: Wednesday November 2, 2011 1:02 pm

The Federal Reserve took no new action after its November meetings today, continuing on the same path, using some minor monetary easing and announcing that the federal funds rate will remain at its current level until at least mid-2013. Charles Evans of the Chicago Fed, who has been calling for a bigger intervention to maximize [...]

Even the IMF Wants Fiscal Spending to Boost Global Economies

By: Tuesday October 18, 2011 7:41 am

A USA Today/Gallup poll shows that more people blame government than Wall Street for the state of the economy. I’m sure there’s a subset there that blames government for the economy because they’re captured by Wall Street. At any rate, the numbers are pretty high in both cases: 78% said that Wall Street bears either [...]

Chicago Fed President Charles Evans: Mass Unemployment is a Huge Failure of Fed Policymakers

By: Thursday September 8, 2011 9:00 am

Now that we’ve determined that the economy is destined for a decade or more of depressed growth with no hope, it’s perhaps a small comfort that one important policymaker actually views this as a huge problem which he could play a role in solving. Charles Evans of the Chicago Federal Reserve released a paper yesterday spelling out why high unemployment is a huge failure of Fed policymakers.

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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