As a correspondent for two business news networks (CNN and Bloomberg), I had to listen to almost every public utterance of Chairman Greenspan and his successor, Ben Bernanke.
I am reading "Daniel Patrick Moynihan, A Portrait in Letters of an American Visionary" edited by Steven Weisman. It is a good title because Moynihan was indeed a visionary.
It's late spring, and the Chicken Littles are back. They don't fly but they do cluck.
Have Fed officials, including Chairs Ben Bernanke and Janet Yellen, continued to destroy the source FOMC transcripts following the Greenspan Fed officials who voted to destroy them in 1995?
Do we just fasten our seatbelts for a bumpy ride, or is there a way to smooth the path ahead? In this interview, Alan Taylor discusses his findings and suggests ways to safeguard the financial system.
Perhaps the disconnect between what the economy seems to be doing and the way people feel about it is that many don't necessarily agree that our economic condition and our overall happiness are the same thing.
Federal Reserve Board Chair Janet Yellen made waves in her Congressional testimony last week when she argued that social media and biotech stocks were over-valued. She also said that the price of junk bonds was out of line with historic experience. By making these assertions in a highly visible public forum, Yellen was using the power of the Fed's megaphone to stem the growth of incipient bubbles. This is an approach that some of us have advocated for close to twenty years.
We have you to thank, Dr. Greenspan, for those "opportunities for avarice" that resulted from of your unbridled enthusiasm for such policies at that time. It also brought on the Great Recession and record deficit we have today.
We are learning just how much mortgage fraud was committed by 18 national and international banks and other financial entities that the Federal Housin...
I believe that the Fed has overreached in its monetary policy not just in response to the latest crisis, but pretty consistently over the 15-20 years. In an effort to lessen the effects of (inevitable) economic downturns, the Fed (and other central banks) has caused extreme financial distortions and dislocations.
The actual performance of NAFTA versus the promises made shows its abject failure. Further worsening the case for the TPP is that the process in negotiating the trade deal is highly secretive, and the public doesn't like what little it is hearing.
Arguing against free-market conventional wisdom, a group of business leaders calling themselves 'Smart Capitalists for American Prosperity' is lobbying Congress and the administration to increase the federal minimum wage to $10.10 per hour.
Once upon a time in a century far, far away, the U.S. economy was perceived by one and all as in a "Goldilocks" state: not too cold, not too hot, just right."
In a review of Joshua Greene's Moral Tribes: Emotion, Reason and the Gap Between Us and Them in The Atlantic (...
For all the Yellen-watching going on, it is important to remember that the changeover is likely to be pretty subtle, especially at first.
"It's like seeing where it all began... and it continues to this day," exclaims author Jennifer George. "Rube was cartooning at the dawn of the indust...