After tightening monetary policy last month for the second time this year, the US central bank is expected to pause for the next few months to monitor developments. The Federal Reserve will leave the benchmark interest rate untouched...Show More Summary
The Federal Reserve is making a big policy error by raising interest rates, and it is doing so because policymakers are wedded to failed economic models that ignore deep underemployment and a weak underlying economic environment. That's...Show More Summary
Authored by MN Gordon via EconomicPrism.com, One of the many downfalls of being the United States Secretary of the Treasury is the requirement to place one’s autograph on the face of the Federal Reserve’s legal tender notes. There, on public display, is an overt record of a critical defect. Show More Summary
A former Oklahoma sheriff's official claims he was forced to 'take the hit' and resign following the shooting of an unarmed black man by a white reserve deputy. Thursday's federal … Click to Continue »
State and federal aid is increasing for North Dakota farmers and ranchers dealing with drought. The federal Agriculture Department has authorized haying and grazing on additional Conservation Reserve Program acres … Click to Continu...
President Trump is reportedly considering naming economic advisor Gary Cohn, former president of Goldman Sachs, to head the Federal Reserve. His appointment would make the Fed the third major world central bank currently led by a former...Show More Summary
The Federal Reserve’s Community Advisory Council (CAC), created two years ago to counter criticism that the central bank was overly dominated by banking and corporate interests, has offered a rather somber assessment of the economy that...Show More Summary
A note from Bill Gross, portfolio manager at Janus Henderson, would hardly be complete without a wild anecdote. His July investment outlook published on Thursday was no different. Gross again criticized the Federal Reserve's decisions to recover the economy from the Great Recession. Show More Summary
The Federal Reserve Bank of Philadelphia said that manufacturing activity continued to expand strongly in July. With that said, the composite index of general business activity decreased from 27.6 in... The post Philly Fed: Manufacturing Continued to Expand Strongly in July appeared first on Shopfloor.
Authored by Brandon Smith via Alt-Market.com, Though stock markets in general are meaningless and indicate nothing in terms of the health of the economy they still function as a form of hypnosis, or a kind of Pavlovian mechanism; a tool that central bankers can use to keep a population servile and salivating at the ring of a bell. Show More Summary
As noted before, the Federal Reserve’s Beige Book collection of local bank district anecdotes are fascinating for all the wrong reasons. What is revealed is not the state of the economy, but rather the state of how policymakers perceive or often wish the economy was at various points. Show More Summary
Flooding last week destroyed all the cash in the vault of a southeastern Wisconsin bank. Fox River State Bank president Keith Polleck won't disclose exactly how much money was ruined, but he says the Federal Reserve will have to replace every dollar, the AP reports. Polleck toells WISN-TV that the...
The Economics of Subsidizing Sports Stadiums by Scott A. Wolla Federal Reserve Bank of St. Louis, May 2017 “The idea that sports is a catalyst for economic development just doesn’t hold water.” —Robert Baade, sports economist Professional sports give people pride and a sense of community. Show More Summary
Federal Reserve officials are great at making forecasts. Unfortunately, their forecasts aren't always very good. That's probably why their forecasts attract so much
The Bank of Japan is finally acknowledging something that Federal Reserve policy makers like San Francisco Fed President John Williams acknowledged months ago, when he published a paper highlighting the growing disconnect between the tightening labor market and consumer prices. Show More Summary
Federal Reserve Chair Janet Yellen speaks during a news conference after a two-day Federal Open Market Committee meeting in Washington in March 2017. Photo by REUTERS/Yuri Gripas Editor’s note: Cutting taxes while beefing up the military. Show More Summary
There's a growing tendency for mainstream economists, including several of those at the Federal Reserve, to dismiss all income disparities as the product of a skills- or education gap, a misleading explanation given weak wage growthShow More Summary
A high employment economy is an effective way to reduce racial discrimination in the labor market.
While in London recently at an exchange with British Academy President Lord Nicholas Stern, Federal Reserve Chair Janet Yellen really let the cat out of the bag. She told Stern that banks are now "very much stronger," with another financial...Show More Summary