News
WSJ | Bernanke Is Unlikely to Promise New Action by the Fed
Fed Chairman Ben Bernanke is unlikely to use his speech Friday at the Federal Reserve's annual Jackson Hole, Wyo., conclave to unveil new efforts to bolster the U.S. economy—despite financial markets' lingering hopes that he will.
Econ Comments
Washington Post | Inflation is not the answer
It’s a sign of desperation that the latest cure being suggested for the ailing economy is higher inflation. In the 1970s and early 1980s, inflation was a national curse. Now, it’s being advanced as an antidote to high unemployment and meager economic growth.
AEI | The Dollar
The US economy may be in bad shape, but not as bad as Japan or Europe.
Financial Times | Bernanke must not push QE3 at Jackson Hole
Ben Bernanke, the chairman of the US Federal Reserve, is in a really tough spot. With other policymakers essentially missing in action, many hope that he will provide a remedy for America’s increasingly deep-rooted economic problems at Jackson Hole on Friday.
Bloomberg | As Fed Meets, Two Lessons from 30 Years at Jackson Hole: Echoes
I attended the first monetary-policy symposium in August 1982, and I plan to be there for the 30th meeting this week. I expect that the Tetons will still be there, but virtually everything else will be different. And there are lessons in those differences.
Bloomberg | Dollar Decline Benefits U.S. Economy as Presaged by Feldstein
“A lower dollar means more exports, and it also means a shift from consuming imported products to consuming goods and services that we produce in the United States,” said Harvard University economics professor Martin Feldstein in a telephone interview.
Blogs
WSJ: Real Time Economics | CBO: Dollar’s Value to Decline Moderately Over the Next Decade
The Congressional Budget Office said it anticipates that the trade-weighted exchange value of the U.S. dollar will decline “at a moderate pace” over the next 10 years.
Reason Foundation | The Fed's QE Makes Life Difficult
The market and pundits are now begging for another round of quantitative easing, and most likely, Bernanke will once again comply - after all, the only way quantitative easing can support markets is through continuous pumping of money into the system. Politicians will praise his genius, all while 80 percent of their constituents suffer under the Bernanke Fed's actions.
