Many Adults Would Struggle to Find $400 in an emergency, the Fed Finds
From today’s New York Times: Four in 10 American adults wouldn’t be able to cover an unexpected $400 expense with cash, savings or a credit-card charge that could be quickly…
With Summers out, Yellen is now favored to lead the Federal Reserve
In the last month, a groundswell of opposition from economists and the public alike has led to positive development. After a major announcement last week by 3 key Democratic Senators…
Nobel laureate criticizes Summers for deregulation leading to recession
Nobel laureate economist Joseph Stiglitz makes a case for Janet Yellen to head the Federal Reserve, and criticizes Larry Summers, who is President Obama’s alleged first choice, for his support…
Summers opposed as pick for Fed Chair by Editorial Board of the NYT
The editorial board of the New York Times makes a clear and convincing case that Lawrence Summers should not be nominated as the Chair of the Federal Reserve. I couldn’t…
Fed Chair calls out Congress for fiscal policy frustrating recovery
FED Chair Ben Bernanke is widely believed to be stepping down at the end of his second term in January. Today he appeared before Congress to give his last biannual…
Discord on the Fed over stimulus signals lack of direction for recovery
Recent public disclosures of the minutes from the Federal Reserve’s board meetings indicate a growing rift between proponents of a gradual withdrawal of the Fed’s stimulus policy of “quantitative easing”…
Fed warnings on economic recovery accentuate stark political choices
In the minutes from its June meeting several Fed policymakers warned that the economy could worsen due to a number of factors, including Congressional failure to avert tax hikes and…
FED to continue twist, without shout
The economic recovery has become even more sluggish, particularly in the labor market where hiring in both the private and public sectors has slowed to a near standstill. Weak job…
FED stands ready, but does not make a change
In a closely watched speech in Jackson Hole, WY this morning, FED Chairman Ben Bernanke tried to boost investor confidence without announcing a new round of anticipated “quantitative easing” (QE).…