Janet Yellen

If you want an accurate explanation of quantitative easing, here it is. I am going to describe the basic mechanics and the transmission mechanism to the rest of the economy. To the degree there is official documentation on the mechanics, I…

Here's a morning note from UBS' Andy Lees in London on core inflation that made me think. Andy writes: Opinion – By focussing on core inflation rather than headline inflation, central banks are making a major policy mistake. Because…

 Speech by Janet L. Yellen, Vice Chair of the Federal Reserve, at the University of Chicago Booth School of Business U.S. Monetary Policy Forum, New York, New York - February 25, 2011.  Cross post from Global Economic Intersection. The…

Marc, you have been very quiet. What are you worrying about? Faber: Have you got an hour? You are all wrong. You say you would do this or that if you were policymakers, but nobody says "I wouldn't do a thing. I would let the market…

Who am I? What is Money? The Fed is Here to Help. by Frederick Sheehan Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession…

The Fed’s announcement of a renewed commitment to Quantitative Easing has been well telegraphed and the market’s reaction is likely to be subdued. We are in a “liquidity trap,” where interest rates or trillions in asset purchases may…

This is a quote from a speech Federal Reserve Board Vice Chair Janet Yellen gave yesterday at the Annual Meeting of the National Association for Business Economics in Denver, Colorado (emphasis added): I noted previously--and it is now…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Inflation versus deflation discussions are the rule for columnists,…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession  (McGraw-Hill, 2009). A speech delivered at the Ludwig von Mises Institute Conference:…

The Senate Republicans are making procedural maneuvers to delay the Bernanke confirmation for re-appointment as Fed chair (hat tip Marc Chandler).  There is talk of a filibuster being used as a tactic to squelch his nomination before…