Tag: "bernanke"

Purity, Obscurity and the Slaves of Defunct Economists

The Fed’s lending and the Treasury’s investments in banks will not cost taxpayers anything. Unfortunately, that can’t be said for the government’s stimulus program to create jobs. That is old fashioned government spending: Money spent, money gone. A large stimulus program was needed to cushion the recession and reduce job losses. But the program outsourced […]

Squawk Box Notice

Chairman Bernanke is testifying before Congress today about the Fed’s exit strategy. CNBC will broadcast this event and I will be part of a discussion panel scrutinizing it. If you’re interested, tune in to Squawk Box from 10am to 11 am (ET) to catch the action.

Monetary Policy: Not Just the Federal Funds Rate

Last week I argued that the “considerable period” language in the FOMC’s post-meeting announcements is not a good idea. It robs the FOMC of flexibility it might need, and it gives the markets too much near term certainty. That does not mean that I think the FOMC should tighten monetary policy immediately. Monetary policy is […]

The FOMC’s Extended Period

________________________________________________________________ “The Committee will maintain the target range for the federal funds rate at 0 to ¼ percent and continues to anticipate that economic conditions . . . are likely to warrant exceptionally low levels of the federal funds rate for an extended period.” – FOMC Press Release 27 January 2010 _________________________________________________________________ “I support your recommendation. […]

The New York Times/CBS Poll and My Advice for the President

The front page of today’s New York Times reports on the results from the latest New York Times/CBS News poll. It is largely about who polls the lowest between President Obama and the Congress, President Obama and the Republicans, and Republicans versus Democrats. It made me wonder whether poll results can go below zero. Here […]

Ben Bernanke and Harry Reid

According to Senator Reid, his support for Chairman Bernanke means the Chairman would have to: “redouble his efforts to ensure families can access the credit they need to buy or keep their home, send their children to college or start a small business.” Such a scandal! Imagine that! (Like, Elaine, am I using too many […]

The Big Bad Banks: The Beatings Will Continue Until Morale Improves

First, we see our government low-balling the expected returns for the Tarp investments in banks so that an additional tax on banks can be justified—including banks that never receive the investments and excluding nonbanks that did. Now proprietary trading is verboten even though there is no evidence that it had anything to do with the […]

Mr. Bernanke and the Taylor Rule

A favorite game at my school was “lets you and him fight” whereby A would tell B that C had been talking trash about him and would often tell C the same thing about B. It was hard for B and C to avoid getting sucked in. I sat beside Gentle Ben Bernanke at the […]

Bashing Bernanke

We had a couple of bullies in my small high school, but I’m told that they grew up into pretty good citizens. Time seems to cure that ugly disease in most people. The main exception is our elected representatives. Something happens to them when they climb up on the dias and see the red light […]

Bernanke Back in the Hot Seat

Here is a CNBC video clip from last night’s Kudlow Report where I defend Ben Bernanke and argue that he should be confirmed for reappointment as Chairman.