Greenspan’s Silver Anniversary
Now, to the hearing that preceded the Senate confirmation vote on August 11, 1987
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Browsing Tag
monetary policy
Zero rates have created a dangerous risk seeking return mentality
One thing Austrians harp on is the misallocation of resources caused by heavy handed and persistent interest rate market intervention. They are right that the industrial organization and the structure of investment capital priorities is…
The Fed’s zero rate policy is toxic for US household interest income
A key negative side effect of persistently low rates on households is the delay of retirement. This inability of many Americans to retire on their savings because of low rates is keeping them in the workforce, limiting job opportunities for…
Fed, ECB Can Promise, But Can’t Deliver
Like Pavlov's dog, the market is conditioned to rise whenever investors see the possibility of central bank moves toward ease. This is true whether we are talking about the Fed or the ECB. The problem is that we have been gradually moving…
Shiller: Housing Bubble Could Be Forming in Some Areas
Robert Shiller sees telltale signs of new bubbles forming in some of the former bubble markets. He mentions Phoenix and San Francisco as two notables.
Fed Does Nothing, Says Less and Dollar Advances
By Marc Chandler
The Federal Reserve defied expectations and took no new action nor altered its guidance in terms of how long rates will remain exceptionally low (late 2014). The dollar rallied on the news initially, but with the ECB…
Did Draghi act on his own?
Everyone of course assumes that the ECB has put together some type of plan to change its policy course. But did this statement come from the ECB (similar to the announcements of the FOMC) or is Draghi trying to do this on his own? Did the…
Draghi’s plan: Rescue fund to buy bonds on primary and ECB on secondary market
Mario Draghi has a specific plan in mind for how the ECB will be able to arrest the sovereign debt crisis. Two Bloomberg central bank sources told the news agency that ECB President Draghi will have talks with Bundesbank President Jens…
More on the global economic slowdown and the drop in corporate earnings
I want to tie a few threads together regarding the synchronised global slowdown and the related drop in corporate earnings. US firms had been insulated on earnings due to not increasing staff and the global nature of their profiles. With…
Stephen Roach: Fed dangles QE3 ‘crack’ cocaine as ‘raw meat’ for markets
Stephen Roach knows that quantitative easing represents what got us into this mess. But the market is addicted to it like an addict wanting "crack". So, the Fed is going to give the addict what it wants because advocates of easy money are…