News
CNN Money | Federal Reserve official aims for 6.5% unemployment
Just how far should the unemployment rate fall before the Federal Reserve raises interest rates? Charles Evans, president of the Chicago Fed, wants the central bank to keep the federal funds rate near zero until unemployment falls to 6.5% -- a jobless rate not seen since 2008.
National Journal | Treasury: China Not a Currency Manipulator
The U.S. Treasury Department declined to label China a currency manipulator in a Tuesday report. The agency said in its semiannual report to Congress on international economic and exchange-rate policies of the major U.S. trading partners that none met the criteria necessary to be designated a manipulator, including China.
Econ Comments & Analysis
WSJ | Bernanke's Seoul Brothers
Another monetary-policy domino fell Tuesday when Seoul introduced a new round of capital controls. South Korea's financial regulators will reduce the amount of foreign-exchange forwards that banks can carry on their balance sheets.
Blogs
Economist | Central banking for fun and profit
Central banks earn hefty profits. They own assets with a positive nominal yield and fund themselves by creating either reserves or currency, which yield next to nothing. In most countries, these profits are remitted to the fiscal authority. After all, the central bank is a public institution, so the people should benefit whenever the monetary authority does well.
