'Twas the night of Black Friday, And all through the Malls, The shoppers were stirring, Over-crowding the halls.
It is long past time for Vice Chair Janet Yellen, the nominee for Federal Reserve chair, and Chairman Ben Bernanke to describe the Federal Reserve stimulus hoax and the time bomb the Fed created.
After pointing out one story which was strangely ignored in the pile-on in the media this week, it seems the profits for the company contracted to build the Obamacare site are way up. How nice for them, eh? Sigh.
Of the likely candidates to lead the Fed, Janet Yellen was almost certainly the best of them. But that list was overly restricted by limitations - in both economic imagination and political courage.
Janet Yellen, Karnit Flug, and Christine Lagarde's are women AND in top economic leadership roles. How did that happen? Don't get confused, women aren...
Obama's expected nomination of Summers was a perfect example of that critical flaw. Repeated appointments of inadequate individuals with questionable résumés -- whether out of loyalty or cronyism -- leaves the government vulnerable to recurrent failure.
Yellen is the first woman nominated to be chair of the Federal Reserve, but she's just the latest in a notable line of women who President Obama has nominated or appointed to the highest roles of government.
If we need any more evidence that Janet Yellen should be the next Federal Reserve Chairperson, it was the decision by the Fed Governors to continue th...
Between deficit spending and dollars created on the Fed's balance sheet, we estimate $8 trillion has been infused into the U.S. economy over the past ...
I've found her analysis of the problems in the recent and current economy uniquely clear and persuasive. It's not over 'til it's over, and it hasn't started yet, but I suspect she'll be approved by the Senate.
This week should remove any doubt about whether markets are highly dependent on the Fed. They sure are. Indeed, you could not have constructed better conditions for a controlled experiment. Yet, ironically, the medium-term investment stakes are now higher.
Bernanke attempted to answer that question today at his post-FOMC press conference. He said economic growth has slowed. But another reason may be that Janet Yellen is now Bernanke's heir apparent as Fed Chairman.
The stock and bond markets should not be the only ones rejoicing at Larry Summers's withdrawal from consideration to run the Federal Reserve. The nation's workers should, too. Janet Yellen, the remaining frontrunner for the position, is no wimp on inflation.
If this government finally wants to send a signal to Main Street that it is no longer in the embrace in the tentacles of Wall Street, there is one person who won her spurs in spirited confrontation with Wall Street's power brokers and can wear their enmity as a badge of honor.
Looking backwards at this debacle, it's clear that Obama's economic team did not serve him well, either substantively or tactically. Summers as chair of the Fed was always going to be a lightning rod, because of his temperament, his sketchy record as president of Harvard, his close association with the deregulation that invited the financial collapse, and the high-profile consulting gigs on Wall Street that he took since leaving government in 2010. Tactically, what unfolded in August and September was bizarre. Instead of the administration vetting Summers for hidden confirmation problems, deciding that he was an acceptable risk, and Obama announcing the appointment, what we got was a slow drip of leaks that Summers was the president's first choice. But that only served to rally Summers' opposition. It would have been much more difficult for opposition within the Democratic Party to fester if Obama had simply announced his choice.