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.
The correct policy for the Fed is to slowly reduce interest paid to banks on their excess reserves and carefully raise interest targets on the federal funds rate if the growth rate of U.S national income continues to follow the IMF predictions of 2.5 percent this year.
SHANGHAI -- From China's perspective, sustained domestic economic growth seems unlikely within the existing global system -- a challenge that Japan and the other East Asian economies did not encounter during their economic rise. Indeed, the only country that has encountered it is the U.S., when it replaced the U.K. as the world's dominant economic and financial power before World War II; fortunately, that precedent is one of accommodation and a peaceful transition.
It's late spring, and the Chicken Littles are back. They don't fly but they do cluck.
We shouldn't be giving up on monetary policy, which for the past few years has been pretty much the only game in town as far as economic policy goes. Instead, we should be looking for a better balance between monetary and other growth-promoting policies, including fiscal policy.
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?
Hard as it may be for its legion of economic, political and media critics (and even some of its own members) to accept, the most recent bullish jobs report from the Labor Department looks like a ringing endorsement of Federal Reserve policies and perspectives on the economy.
This is something that Germany, instigator of the eurozone's austerity policies, has to learn if it wants to bring Europe out of its Second Great Depression; by supporting policies that will unite Europe into a greater union, rather than cause its disintegration.
We can now say we have the goldilocks economy that prevailed through the 1990's -- not too hot or too cold -- that should boost economic growth for years to come, if Congress can be ignored.
Design changes in Ebola management protocols make it highly probable that the Ebola hazard in America will be successfully contained. In contrast, the hazard of wealth-concentration policies implemented by central banks is not under containment. This problem threatens the very fabric of democratic enterprise.
In good times and bad, home ownership remained a safe bet even when the contours of life changed. Then everything went to hell.
Lehman down, AIG up, Carmen Segarra out and a seemingly well-connected, three-peat winner, Goldman Sachs, motors on...
What do the Federal Reserve, chicken corpses, and umbrellas have in common? More than the usual; find out in our Week to Week news quiz. Here are so...
The Bernanke and Yellen Feds have built a $2.7 monetary time bomb that should not be allowed to explode rapidly. The Fed should sell longer-term Treasury bonds to the public as the Fed reduces the interest they pay on the $2.7 monetary trillion time bomb.
The summer is coming to an end without much success at the movie box office, but one "sequel" has emerged a winner this week although its ultimate fate awaits further developments.
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a massive piece of financial reform legislation that I voted for and was signed by President Obama in 2010. Was it perfect? Of course not. No massive piece of legislation is perfect -- and that's why we constantly work to improve the law.