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Friday, June 22, 2012

Monetary

News                                                                                                                             
WSJ | Anna Schwartz
Most often, Anna Schwartz, who died Thursday at age 96, was included in sentences as co-author with Milton Friedman of the magisterial economic study "A Monetary History of the United States, 1867-1960." That would suffice for the epitaph of nearly any economist. It does not for Anna Schwartz.
Market Watch | Lacker explains dissent after new Fed Twist plan
Richmond Fed President Jeffrey Lacker on Friday issued a statement explaining why he was the only one out of 12 Federal Open Market Committee members who voted against a policy to extend a bond swap program by $267 billion.

Econ Comments & Analysis                                                                                            
Real Clear Politics | Snapshots of Dysfunction In a Fiat Money World
In a world awash with digital fiat money, this constant need for liquidity measures is sometimes hard to reconcile with the sheer amount of digital monetary units created in the months since October 2008.  But real liquidity is far more than quantity.