News
Bloomberg | China Cuts Benchmark Rates for Second Time in Month
China cut benchmark interest rates for the second time in a month and allowed banks to offer bigger discounts on their borrowing costs, stepping up efforts to reverse a slowdown in the world’s second-biggest economy.
CNN Money | ECB cuts rates to all-time low
The European Central Bank lowered interest rates Thursday to all-time lows but did not introduce any unconventional moves to stimulate economic activity.
Econ Comments & Analysis
Forbes | Emperor Ben Has No Clothes
The failure of promiscuous money printing and interest rate manipulation to reboot our economy is lost on the Fed.
WSJ | Monetary Policy and the Next Crisis
At its annual meeting of the world's central bankers in Switzerland last week, the Bank for International Settlements—the central bank of central banks—warned about the harmful "side effects" of current monetary policies "in the major advanced economies" where "policy rates remain very low and central bank balance sheets continue to expand."
Forbes | The Decline and Fall of China's Renminbi
The People’s Bank of China, the central bank, decreased its daily reference rate for the renminbi by 0.48% in Q2. That contributed to the Chinese currency suffering its biggest quarterly decline since 2005, when it was unpegged from the U.S. dollar.
Blogs
WSJ | Who Will Pick Up Ron Paul’s Role of Chief Fed Critic?
Nearly one year after Rep. Ron Paul of Texas said he would leave Congress at the end of his 12th term, his successor as the Federal Reserve‘s chief critic has yet to emerge on Capitol Hill.
