Even the farsighted Founding Fathers could not have foreseen this -- the Fed is now on Twitter! Just think of the possibilities -- one fine Friday any Fed functionary could foment a world crisis in 140 characters or less! It could be as simple as a typo.
There is little doubt that the global financial crisis posed "unusual and exigent" circumstances that had to be met with a huge response by the Fed (and Treasury). It is not clear, however, that the response actually mounted was legal. It was certainly not transparent.
It should not be difficult for the New York Times editorial writers to treat Ron Paul as a profound and principled contributor to a much-needed national debate on the limits of federal power instead of attempting to marginalize his views beyond recognition.
Maybe you thought, "a $200,000 mortgage? For only $2 each month? That sounds impossible." Well, it is possible. It's just not possible for you. For Bank of America, yes. For Citigroup, yes. For Wells Fargo, yes. For you, no.
A GAO investigation into the Fed documents Wall Street bailouts that dwarf the $700 billion TARP, and everything else you've heard about. All this is something new, very new. The Fed was allowed to pick winners and losers.
The Federal Reserve is trying to do their part with more easing of interest rates, but absent more action on the fiscal side, like the measures in the president's jobs plan, I don't expect anyone much to take advantage of lower rates.
Because of a rigid ideological commitment to "get Washington off the public's back," House of Representative Republicans tend to have a counter productive, narrow view of the appropriate role for federal government.
The dollar's hegemony has become increasingly fiscally and monetarily unsustainable to the U.S. itself, and will come to an end either by a forceful market correction or a gradual reconstruction of global reserve currency system.
Just when you thought our politics couldn't get any weirder, Texas Governor Rick Perry may have just threatened to beat up Federal Reserve Chairman Ben Bernanke for suggesting another round of quantitative easing.
There are two clear losers with the Fed's newest decision: the dollar and savers. The promise to keep interest rates low for two more years ensures continued weakness of the dollar against strong foreign currencies and gold.
President Obama has agreed to effectively remove the elected federal government from the battle to restore economic health and instead left us to the tender mercies of the banker-dominated Federal Reserve, which, like the folks at S&P, helped get us into this mess.