News
Bloomberg | Bernanke Urges Republicans to ‘Deal With’ Debt, Lawmaker Says
Federal Reserve Chairman Ben S. Bernanke urged Republicans during a dinner meeting yesterday to find a way to “deal with” the rising U.S. national debt without endorsing a specific plan, lawmakers who attended said.
Econ Comments
Bloomberg | The Fed Rescue Program Too Bizarre to Be True: Michael Lewis
Last week the Federal Reserve bravely released 894 PDF files containing 29,346 pages that detailed its heroic actions during the financial crisis.
Blogs
WSJ: Real Time Economics | Kansas City, Dallas Feds Want Discount Rate to Rise
Ten of the Federal Reserve‘s 12 regional offices last month voted to keep emergency borrowing cheap for banks, judging that the rise in global commodity prices poses a bigger threat to U.S. economic growth than to inflation.
WSJ: Real Time Economics | U.S. Can No Longer Rely on Importing Low Inflation
For years, the U.S. counted on the rest of the world to supply loads of T-shirts, shoes and toys. The U.S. also imported an item not found on any ship’s manifest: low inflation.
