News
FOX Business | OECD Warns Interest Rates Could Spike when Fed Slows QE3
After flooding U.S. banks with cash to fight an economic crisis, the Federal Reserve must now find a way to slowly tighten the money spigot without dealing a painful shock to businesses and families, the OECD said in a report on Wednesday.
Bloomberg | Fed’s 100-Year Roots Grew From Virginia Congressman
As Carter Glass began to sketch out plans for a central bank in 1913, all the U.S. representative from Virginia had to do was read his mail to know he had nationwide support.
Econ Comments & Analysis
Real Clear Markets | QE: A Guide For the Perplexed
The Fed dominated the news cycle last Wednesday. In the morning, Chairman Bernanke appeared on Capitol Hill to discuss the economy and monetary policy. Then, in the afternoon, the Fed released the Minutes for the FOMC meeting held on April 30 and May 1.
Blogs
Market Watch | Maybe Bernanke is happy with the confusion over Fed policy
In the wake of Fed Chairman Ben Bernanke’s comments that the central bank could take the first step towards slowing down its asset purchase programs in one of its “next few meetings,” Fed watchers are second-guessing their own projections. One top economist thinks that might have been Bernanke’s intention all along.
WSJ | Kansas City Fed Wanted to Raise Discount Rate
Federal Reserve officials said they view the pace of economic expansion as “moderate” and voted to maintain its primary credit rate.
