Jeffrey P. Snider: Unfortunately An ‘Official’ End To The Rising Dollar Isn’t More
TIC data confirms that “reflation” captured more than just pricing sentiment. It appears to have occurred in bank balance sheet activity, and related official…
Benn Steil: PBoC Spins China’s Bad-Loan Data
In a recent speech at Bloomberg’s headquarters in New York, People’s Bank of China Deputy Governor Yi Gang reassured his audience on the level…
Benn Steil: RMB Globalization, Once “Unstoppable,” Heads Into Reverse
“The globalisation of the [Chinese RMB] seems remorseless and unstoppable,” the Economist pronounced in April 2014. A year later, a research-grant foundation asked me…
Auditing the Fed Is Now More Important than Ever
By Jonathan Newman Last week, the House Committee on Oversight and Government Reform approved a bill submitted by Thomas Massie (R-KY) to allow Congress to…
‘Nowhere To Go But Up’ Survives Because The Fed Refuses To Be Honest About Its Assessment of the Output Gap
by Jeffrey P. Snider The Federal Reserve under Ben Bernanke committed several unforgivable mistakes during his tumultuous tenure, but cumulatively they could be easily…
Yellen’s Balance Sheet Baloney
By George Selgin Of the many questions reporters asked Janet Yellen on Wednesday, at her press conference following the FOMC’s decision to raise the Fed’s policy…
Zero Hedge: Two Fed Presidents Warn Markets Getting “Frothy”, Valuations “May Come Down”
In what was the clearest sign to date that the Fed is targeting the stock market bubble with its rate hikes (recall two weeks…
For Keynesians and Austrians, “Uncertainty” Means Two Different Things
By G. P. Manish and Felicia Cowley Keynesian economics has witnessed a remarkable resurgence since the crisis of 2008. The inability of mainstream economics to predict or…
Jeffrey P. Snider: Further Unanchoring Is Not Strictly About Inflation
According to Alan Greenspan in a speech delivered at Stanford University in September 1997, monetary policy in the United States had been shed of…
Can Yellen Keep the Boom Going?
By Brendan Brown Yellen, like notorious previous Fed chiefs including Strong, Martin, and Greenspan, can now claim success in having prolonged and strengthened an asset…