News
Bloomberg | Secret Fed Loans Gave Banks $13 Billion
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.
USA Today | Cost of items in '12 Days of Christmas' now top $100K
The price of partridges, pear trees and turtle doves has spiked this year, pushing the cost of every item mentioned in the carol "The Twelve Days of Christmas" above $100,000 for the first time.
Econ Comments
Fox Business | The Fed to Europe’s Rescue?
Whether Germany’s Angela Merkel decides to be Germany’s new Iron Chancellor or Merkel in the Middle may be beside the point, as the bond markets continue to deliver a negative verdict on the Eurozone crisis, with EU yields sticking stubbornly high and borrowing costs soaring.
WSJ | Europe's Currency Road to Nowhere
The euro has punished Southern Europe the way China's currency has hurt the United States.
Bloomberg | ECB Fails to Attract Sufficient Bids to Mop Up Liquidity From Buying Bonds
The European Central Bank failed to fully offset the extra liquidity created by its bond purchases for the first time in seven months, a sign of mounting tensions among euro-area banks.
AEI: American | Elastic Currency, With a Vengeance
An extraordinary government triangle now consists of the Fed, the Treasury, and the GSEs.
Blogs
WSJ: Real Time Economics | Failure to Extend Tax Cut Could Push Fed to Do QE3
Failure to extend the payroll-tax cut by year’s end could push the Federal Reserve into a third round of quantitative easing, says Barclays Capital chief U.S. economist Dean Maki.
