News
Bloomberg | Fed Policy Makers Signal Abrupt End to Bond Purchases in June
Federal Reserve policy makers are signaling they favor an abrupt end to $600 billion in Treasury purchases in June, jettisoning their prior strategy of gradually pulling back on intervention in bond markets.
Fox News | Utah Considers Return to Gold, Silver Coins
It's been nearly 80 years since the U.S. stopped using gold coins as legal currency, and nearly 40 since the world abandoned the gold standard, but the precious metal could be making a comeback in the United States -- beginning in Utah.
Bloomberg | Gross Says Inflation Matters More Than Bernanke Indicates
Rising oil prices may cut U.S. gross domestic product by a quarter to half a percentage point, Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene.
Econ Comments
Fortune | Global stagflation is here to stay
Don't believe the overly bullish global growth estimates. There's plenty of evidence that growth will slow and inflation will continue to accelerate, even if commodities back off their highs.
Barron's | What's the Fed's Playbook for the Second Half?
Pimco's Gross sees tightening once Fed purchases end. Avoiding the fumbled handoff.
NY Sun | The Eclipse of Ben Bernanke
When, in the Constitution, [the founders] delegated to the Congress the power to coin money, they did so in the same sentence in which they also delegated to Congress the power to fix the standard of weights and measures.
RCM | Eichengreen is Wrong About the Dollar
The idea that we can make our trade deficit go away - and that we need to - simply by devaluing the dollar is something that sounds good in theory but has yet to work in the real world.
Blogs
Forbes: Bill Flax | You Call It Inflation, I Call It Theft
The proponents of consumption-based stimuli overlook the essentiality of saving.
EconLog | Two Basic Macro Questions
...there is a very large Fed attribution error--people attribute to monetary policy far too much power.
