With ample lines of credit and a relaxed global monetary policy, AT&T can easily move up and down the ICE food chain with massive acquisitions. Sensing opportunities presented by changing marketplace conditions and threats to legacy business lines, the company has opted to buy market share and expertise. Show More Summary
One thing we know about Central Bank monetary policy: they did lots of it (zero interest rate policy and quantitative easing or QE). The Federal Reserve is an excellent example. If we look at the duration (weighted average life) of global...Show More Summary
Ben Bernanke famously quipped that monetary policy works in practice, but not in theory. This column bridges the gap between practice and theory in assessing how central banks can influence both of them by intervening in asset markets. Show More Summary
A further easing from the Bank of Canada would bring the central bank closer to unconventional monetary policy and the decision on whether to cut rates again is not one to take lightly, Governor Stephen Poloz said on Monday. Taking questions...Show More Summary
This post was written by Krishna Memani, CIO of OppenheimerFunds. As fall begins, and the air gets heavy with anticipation about presidential politics and the direction of US and global monetary policy, here are our four key views on the markets: 1. Show More Summary
Olivier Blanchard (2007): _[Monetary Policy, Labor Markets, and Fiscal Policy]_: "Why is inflation targeting so popular, both among central banks and among academic economists? For two conceptually separate reasons... [Monetary Policy, Labor Markets, and Fiscal Policy]: http://economics.mit.edu/files/2003 >The first is the obvious one. Show More Summary
When the Bank of England cut interest rates to a new record low and unleashed a substantial package of quantitative easing on August 4, the bank said that the majority of its Monetary Policy Committee expected to "support a further cut...Show More Summary
World equity markets were mixed overnight. European stock markets traded not far from unchanged as traders and investors debated whether the European Central Bank will or won't extend its quantitative easing of monetary policy of purchasing bonds. The post Global Equity Markets Mixed; China Yuan Hits 6-Year Low Against U.S. Show More Summary
European Central Bank keeps its ultra-loose monetary policy unchanged, but leaves the door open to more stimulus in December. ||| Frankfurt - The European Central Bank left ultra-loose monetary policy unchanged on Thursday, but keptShow More Summary
Good morning! Here's what you need to know on Friday. The European Central Bank left monetary policy unchanged on Thursday afternoon, when the bank announced the outcome of its October governing council meeting. The bank left all its...Show More Summary
Authored by John Mauldin via MauldinEconomics.com, I would argue that the Great Recession was a result of a massive monetary policy error. The Fed kept rates too low for too long, which—when coupled with lax or no regulation in the mortgage markets—resulted in a housing bubble and a crash. Show More Summary
The European Central Bank leaves the key pieces of its long-running stimulus plan in place, unchanged
The European Central Bank left monetary policy unchanged on Thursday afternoon, when the bank announced the outcome of its October governing council meeting. The bank left all its main rates unchanged, with its key refinancing rate remaining...Show More Summary
The Fed, led by Janet Yellen, is acting as if it will retain its power forever simply because it’s currently the most power player in the game of global monetary policy. The post The Game of Power was originally published at The Wall Street Examiner. Follow the money!
My latest Macro Musings podcast is with Izabella Kaminska. Izabella is part of Financial Times Alphaville, where she has been since 2008. She has written extensively on monetary policy, fiscal policy, financial technology, and is key force behind the Financial Times Festival of Finance. Show More Summary
(October 15, 2016 01:52 PM, by Scott Sumner) Patrick Sullivan directed me to Brad DeLong: Bernanke (2000): Contrary to the claims of at least some Japanese central bankers, monetary policy is far from impotent today in Japan... Why is it not impotent? Because of: what amounts to an... (5 COMMENTS)
The decline in long-term interest rates has nurtured the view of a persistent shift of the natural rate into negative territory. This column argues that existing estimates of the natural rate, based on the New Keynesian model, are likely to be biased downward. Show More Summary
[Unclear and Inadequate Thoughts on Financial Stability and Monetary Policy Once Again](http://delong.typepad.com/delong_long_form/2014/10/unclear-and-inadequate-thoughts-on-fnancial-stability-and-monetary-policy-once-again-the-honest-broker-for-the-week-of-octob.html)
J. Bradford DeLong U.C. Berkeley October 15, 2016 But there is more to monetary policy than just interest rate policy constrained by the zero lower bound. There had been substantial thought back before 2008 about what to do at the zero lower bound. It is not that economists had a...
J. Bradford DeLong U.C. Berkeley October 15, 2016 The consensus for interest rate policy as an aspect of monetary policy back in 2007 was some version of Taylor’s (1993, 1999) interest rate rule (cf. also: Henderson and McKibbin (1993)): the first in time of Taylor’s two contributions to our thinking...