Part one of a two-part series. It took nearly a decade for the Federal Reserve Board to reach its inflation target of 2%. Now that the target has been not…
Back to ZIRP?
During the Obama Administration, the Federal Reserve Board held interest rates close to zero for seven years. The economy stagnated. But now, with the benchmark federal funds rate at 2.25%…
There Is No Normal
The Federal Reserve Board routinely gets it wrong. Given the political nature of its work, the differing opinions of its seven governors and, especially, the subjective economic beliefs that influence…
Addressing a Debt Crisis with More Debt
Last week, we discussed causes of the Great Recession. Today, we look at how it was addressed. The financial crisis was essentially a debt crisis. Mortgagees were unable to pay…
Fed’s Bond Buying Not the Success Some Claim
“When money gets tight, greed turns to fear … “ …