interest rates

The Federal Reserve, the Bank of England and the European Central Bank led a coordinated rate cut effort as the official response to the biggest financial crisis since the Great Depression gathers steam. The official response in Europe and…

Richard Fisher of the Dallas Fed shows that some of the Fed Presidents get it. He is now on record for saying that interest rate cuts won't solve America's credit crisis problems. In fact, interest rate cuts will make them much worse. If…

As Hank Paulson looks to push through his Economic Patriot Act, it bears remembering that just a few months ago he saw Covered Bonds as a potential solution to U.S. problems with declining home prices. They are not the solution. This…

I named my blog "Credit Writedowns" because I anticipated an historic wave of credit writedowns in the global banking system which would lead to a wave of deleveraging, systemic risk, and bank failures -- in short, a massive financial and…

At 9:00 PM EDT, the Federal Reserve posted a statement on its website that it has decided to offer AIG an $85 billion line of credit at a penalty rate in return for all of AIG as collateral. In addition, the Federal Reserve will receive an…

The Fed has not cut interest rates and is still worried about inflation as much as economic growth. I certainly felt the Fed was going to cut and was going to have a more dovish comment than it has. The investor reaction was to send…

The finance and investing website Money Morning has a very provocative piece om Jim Rogers today. Rogers, who has been railing against the bailout of Fannie and Freddie for some time, thinks the Treasury and Federal Reserve will fail in…

ECB governing council member and Dutch National Bank head Nout Wellink said two weeks ago that the ECB was going to stop lenders abusing ECB's credit crisis policy of accepting lower credit quality. The ECB is going to make good on…

The global economy is in the relatively unique but unenviable position of being bullied by both recession and inflation at the same time. This leaves central banks in a bit of bind. The Federal Reserve has thrown all caution to the wind…

The last place in the world you wold expect to hear support of Ben Bernanke is hear. The Bernanke Fed has been as reckless in its attempts to reflate the economy as the Greenspan Fed - probably more so. Nevertheless, when Willem Buiter, a…