Very interesting piece in today’s NYT on how more inflation would actually be helpful right about now. That’s probably counter-intuitive to a lot of readers so let me elaborate. To be clear, none of us would be calling for faster price growth were it not for the fact that inflation is really low. This chart… Read more
Some articles out today show an interesting dynamic at work regarding the Federal Reserve’s communication with markets. Simply put, by surprising the markets last month, the Fed persuaded them that they really mean it when they say they’re in data-driven mode. Given the weaker-than-expected jobs report, most commentators now expect the Fed to hold off… Read more
Especially in the light of yesterday’s weak jobs report, I keep coming back to the disturbing fact that as soon as the shutdown/debt ceiling debacle was at least temporarily behind us, the political system, without dropping a beat, went right back to deficit reduction mode. The President, to his credit, has always kept jobs and… Read more
I’d like to see Ms. Yellen confirmed quickly, and then get out more in front of some unconventional audiences. Over at the NYT Economix Blog.
Well, that was expected. Janet Yellen will be nominated by the President tomorrow AM as the next chairperson of the Federal Reserve. It’s not over ‘til it’s over, and it hasn’t started yet, but I suspect she’ll be approved by the Senate. (After the Summers mess, you can bet the admin took the temperatures over… Read more