News
CNN Money | Fed won't raise rates just to burst bubbles
No doubt about it: The Federal Reserve's record low interest rates over the last few years have led some investors to take on riskier investments in search of higher returns.
Bloomberg | U.S. Ex-Im Chief Optimistic Bank Will Survive
U.S. Export-Import Bank Chairman Fred Hochberg said he’s optimistic that the agency will build enough support to survive lawmakers’ efforts to abolish it this year.
Econ Comments & Analysis
Bloomberg | Yellen Says Financial Instability Shouldn’t Prompt Rate Change
Federal Reserve Chair Janet Yellen said concerns about financial stability shouldn’t prompt a change in current monetary policy while flagging “pockets of increased risk-taking” in the financial system.
Forbes | Peace Through Weakness -- The U.S. And Japan Sputter
The U.S. has set aside the doctrine of “peace through strength,” relying instead on hope and multilateralism. The New York Times captured the consequences of this in its June 23 headline on Iraq: “Reality Overtakes Hope.” That’s just the latest evidence of policy failure.
Real Clear Markets | With Ex-Im, Congress Should Be Pro-Market, Not Pro-Business
There's nothing new about proponents of limited government opposing the often incestuous relationship between government and business. Being "pro-market" is not the same thing as being "pro-business."
Fortune | Yellen: Don't blame the financial crisis on low rates
The Fed chair argued that raising rates during the run up to the crisis would have led to higher unemployment without getting to the core issues facing the financial system.
Mercatus | There Are Better Ways to Help US Exporters Compete Abroad Than the Ex-Im Bank
Proponents of the Ex-Im Bank often argue that its export credit subsidies to foreign buyers “level the playing field” in international trade. Supporters claim that similar activities from foreign export credit agencies (ECAs) like the Compagnie Française d'Assurance pour le Commerce Extérieur in France or the Export-Import Bank of Korea necessitate the defensive actions of the Ex-Im Bank. According to this argument, all American exports would suffer a great deal if the Ex-Im Bank were not able and willing to counteract these foreign subsidies.
