“Recognition”
After all, there was something “new” in Bernanke´s Jackson Hole speech. …This economic healing will take a while, and there may be setbacks along the way. Moreover, we will need to remain alert to...
View ArticleTidbits from Jackson Hole
With “friends like these, who needs “enemies”: A top economist at the Bank for International Settlements, the central bank of central banks, made a veiled criticism on Friday of Ben Bernanke‘s...
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The future is always “rosy”…
No matter what we do “today”. At Macroblog David Altig (head of research at the Atlanta Fed) “twitts” the CBO and the BEA: Key to the CBO’s estimates is a reasonably good outlook for GDP growth after...
View ArticleReading the tea leafs
And then many complain that recovery is being held back by “uncertainty”! This from Randall Kroszner, a fomer Fed Governor: Kroszner’s summary of Bernanke’s speech: “We’re still not sure–so I’m not...
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A “screwed up mind”
In today´s NYT Sunday Review, David Leonhardt writes “Dissecting the Mind of the Fed”: IF you were to conduct a survey of the country’s top economists, you would find a fair number who did not believe...
View Article“Lost”
Amidst doubts and internal disputes. All came out in JH: JACKSON HOLE, Wyo.—After four years of fighting crises and pumping money into the financial system, the world’s central bankers are concluding...
View ArticleObsession, Paranoia & Stupidity
I´ve been using those words with some frequency lately (Benjamin Cole in the comments even more so!). So read the whole James Surowiecki New Yorker article – Europe´s big mistake – to really grasp...
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Ignore monetary policy at your peril
Almost two years ago, Mark Thoma and Krugman did a piece on excess capacity and unemployment. This is their picture (updated). From Thoma: the sooner unemployment returns to normal the better, but we...
View ArticleWhat was this all about?
From the WSJ: One member of the troika who opposed the Federal Reserve‘s recent decision to keep rates at rock bottom levels for two years suggested he won’t be repeating his disagreement at coming...
View ArticleIf only…
…back in 2008/9 Krugman had been as pro monetary policy as he indicates in his comment to the reasons for Fischer´s dissent that appeared in the FOMC Minutes: So, let’s see: Fisher thinks that the...
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