News
Fox News | Documents show Bernanke thought economy could pull off 'soft landing' from falling home prices
Ben Bernanke presided over his first meeting as Federal Reserve chairman in March 2006 believing the nation's economy could pull off a "soft landing" from falling home prices. Three months later, Bernanke had begun to grasp that he and others had underestimated the risk housing posed to the economy.
National Journal | QUICK TAKE: Papers Differ Over Who in Fed Was Most Vocal About Brewing Crisis
Transcripts of closed-door Federal Reserve meetings in 2006 reveal the extent to which central bank officials failed to anticipate the 2008 financial crisis, multiple news sources reported on Friday.
WSJ | Euro Zone Leaves Rates Unchanged
Central Bank Chief Cites 'Stabilization' in Business Activity.
Econ Comments and Analysis
Bloomberg | Draghi Says Crisis Strategy Is Working as ECB Fights Threat From Turmoil
The ECB’s massive injection of cash into the financial system last month is beginning to lubricate seized credit markets and there are “tentative signs” of economic stabilization in the euro area, Draghi said in Frankfurt yesterday.
RCM | Central Banks Have Us In a Monetary Trap
As much as there is a perception of disjointed confusion to all these "emergency" measures, including the ad hoc and disconnected timing to them, there is a definite element of commonality running through them, an unmistakable theme. Central monetary authorities are, in essence, running through a kind of pre-scripted economic playbook.
CNN: Money | The lure to leave the euro may prove irresistible
Greece, Italy, and the other embattled euro zone nations may need to start looking out for themselves and consider leaving the euro. Better to be Argentina than Latvia.
Blogs
Minyanville | Central Bank of Chile Unexpectedly Cuts Interest Rate to 5% on Slowdown in Domestic, Global Growth
Chile's Central Bank has cut the interest rate to 5%, thanks to domestic cooling and unstable international markets, both of which offset high inflation.
