Morning Edition engaged in ritualistic praise of Stanley Fischer, in discussing his prospects for approval as President Obama's pick to be vice-chair of the Federal Reserve Board. It accurately reported that economists on both the left...Show More Summary
In choosing to be called "chair" -- not "chairwoman" -- of the Federal Reserve, Janet Yellen shows that leadership should be genderless
A raft of data out Thursday added to the evidence that China’s economy is losing speed early in 2014, a realization that in recent days has sent markets tumbling around the world and slammed prices of key commodities.
Evan Soltas has responded to me and others who don't quite see us as bumping up against full employment and capacity constraints any time soon. Fortunately, he clearly lays out his argument so it is easy to see the error in his ways....Show More Summary
A couple days ago I added a feed to David Stockman's "Contra Corner" on the right hand side of this blog. As of today, his site is officially "live".Stockman's First Two Live Posts The Ukraine, The War Party and the Pentagon’s SwampShow More Summary
Investors are slowly but surely adjusting to a world where markets and becoming more uncorrelated and (macro)risks are now local instead of global. We are now living in a bottom-up world and global macroeconomists with a Cassandra bent are set to become an endangered species. Show More Summary
I was in New York on Friday attending the U.S. Monetary Policy Forum. One of the sessions was on how central banks could better communicate their plans for using unconventional monetary policy. Federal Reserve Bank of Chicago President Charles Evans presented some very interesting ideas. Evans argued that the most important element for effective communication […]
Congratulations to Tom Lawler for winning another "Crystal Ball" award (most accurate 2- and 3-year forecasts ending in 2013 for panel of forecasters). Also I've another great site to the right sidebar: House of Debt by Atif Mian and...Show More Summary
The Federal Reserve official who was instrumental in guiding the central bank to provide detailed verbal guidance on the potential timing of interest rate increases says the time has arrived to change this system.
Ranches and farms are often full of animals and equipment but no watchful eyes -- and criminals have taken note
Employees accuse McDonald's and franchisees of failing to pay for overtime, forcing them to work off the clock and other labor law violations
The European Central Bank shouldn't react to daily changes in exchange rates, Governing Council member Jens Weidmann said Thursday.
From FNC: FNC Index: Home Prices of Normal Sales Up 0.4% in JanuaryThe latest FNC Residential Price Index™ (RPI) shows U.S. home prices have gotten off to a positive start in 2014, rising a modest 0.4% in January. The index, constructed...Show More Summary
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The top brass at the IMF is pushing governments to address a widening gap between the rich and the poor. The fund released a paper Thursday about how governments could address income inequality.
Most economists surveyed by The Wall Street Journal think the Federal Reserve won’t raise interest rates before June 2015 despite a falling unemployment rate and improving economy.
The Bank of England has published a lovely clear article (by Michael McLeay, Amar Radia and Ryland Thomas) on "Money Creation in the Modern Economy". Thanks to JKH for the tip-off. (Here is JKH's blog post). But I disagree with...
From DataQuick: Bay Area Home Sales Slowest Since 2008Bay Area home buyers were kept scrambling last month as a continued lack of inventory contributed heavily to a six-year low in sales....A total of 4,963 new and resale houses and condos sold in the nine-county Bay Area last month. Show More Summary
Water scarcity is one of the most urgent food security issues facing countries in the Middle East and North Africa, with fresh water availability in the region expected to plunge by 50% by 2050, according to the United Nations.
The Oracle of Omaha hopes to tap into Miami's growing advertising market