News
Bloomberg | U.S. Economy Slack Justifies Stimulus, Top Fed Staff Papers Show
The Federal Reserve’s policy of seeking to drive down the U.S. unemployment rate is effective, and the level of slack in the economy justifies an accommodative stance, according to two separate papers by top Fed officials.
Econ Comments & Analysis
Real Clear Markets | The Fed Would Be Wise To Exit Sooner Rather Than Later
October was dramatic indeed, the list of events includes: the government shutdown, and its crescendo, rollout of the Obamacare website, the official nomination of Janet Yellen, continuing resolution, publication of delayed data releases by BLS and other furloughed government agencies, and finally the Fed statement.
CATO | The Fed at 100
Ron Paul’s two runs for the Republican presidential nomination made “End the Fed” into a political slogan. Reportedly it was the line receiving the greatest applause at all his rallies, no matter the group. It was also the title of a book he authored. It is a sign of the times that the Fed is held in low esteem in its centennial year, more among the public than in academia.
AEI | An easy fix to Dodd-Frank's credit ratings rule
Should banking regulations ever have forced the use of bond credit ratings from certain ratings agencies for investment decisions and risk-based capital requirements? No. Mandatory use of credit ratings was a big regulatory mistake. It fostered a government-sponsored credit ratings cartel. It created a concentrated point of possible failure, generating systemic risk, which did indeed fail in the bubble (along with other things).
