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Tuesday, October 25, 2011

Monetary

News                                                                                                                             
WSJ | Fed Official Backs New Growth Push
A top Federal Reserve official suggested Monday that the central bank could take further action to try to boost economic growth, including more securities purchases.
NY Times | In Cautious Times, Banks Flooded With Cash
Bankers have an odd-sounding problem these days: they are awash in cash.

Econ Comments                                                                                                             
NY Times | The Beauty of Institutions
When humankind fails, the best institutions save it from the brink. The forging of the European Union is up there with the U.S. Constitution as an act of creative genius.
Washington Times | RAHN: Abolish central banks
Monopoly on money means a never-ending cycle of boom and bust.
Washington Times | FEULNER: Focusing on the Fed
It’s time to ask hard questions about the central bank’s role.