A taperphobia epidemic has Wall Street in a panic yet again. “Taperphobia” is an irrational fear of common sense. Symptoms include a falling stock market, soaring bond yields and ongoing…
Define “Forever”
In May, when Fed Chairman Ben Bernanke said that quantitative easing could not continue forever, the stock market tanked and the word “tapering” became the most feared word on Wall…
The Queen of QE
Amidst a government shutdown, a debt-ceiling crisis and other assorted financial turmoil, President Obama this week nominated Janet L. Yellen to chair the Federal Reserve Board. As a Keynesian economist…