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Persistently Low Rates Carry Risk of Negative Side Effect
Keywords:
A delicate balancing act for the Federal Reserve to withdraw support that puts a dark cloud over the economy..
10/01/2009
Incrementally withdrawing support where and when possible will be a tough act for the Fed, after the Fed has committed $1 trillion so far as support to debt securtization markets that breathe life into the USA economy. Shiller says these markets are dead, we are stuck, and no one knows what will happen if they are hobbled for corporate real estate, mortgages, auto loans.
Grouped Articles
Wall Street Journal 08/01/2013
Fed Must Consider the World and All U.S. Employment
Wall Street Journal 04/09/2015
How the Fed Can Avoid the Next Bubble
Wall Street Journal 10/06/2009
Paralysis in the Debt Markets Is Deepening the Credit Drought
New York Times 10/07/2009
New Order: No Money, No Problem
Wall Street Journal 10/07/2009
Fed Frets About Commercial Real Estate
Wall Street Journal 10/07/2009
Expert opinion on Federal Reserve policy in 2011-2013
08/12/2010
The Federal Reserve's Open Market Committee voted in August 2011 to keep exceptionally low rates till 2013, with three fed governors dissenting. The high market volatility in August 2011 and the Fed's decision to let the government and Congress shoulder more of the responsibility for the economy. The limited capabilities of the Fed after QE II.
Grouped Articles
Martin Feldstein: The Federal Reserve's Policy Dead End
Wall Street Journal 05/09/2013
How QE 2 Could Drift Off Course
Wall Street Journal 08/12/2010
Yellen Says Restraining the Fed’s Oversight Would Be a ‘Grave Mistake’
New York Times 07/16/2014
Fed to Markets: Fly Solo, for Now
Wall Street Journal 08/10/2011
Wall Street Journal 08/26/2011
Wall Street Journal 08/31/2011
Liquidity Trap in Japan and the U.S.
03/17/2008
With the demand curve for money horizontal further increases in the money supply do little to lower interest rates, or as in the current situation where the interest rates in the US are virtually at zero so that further increases in the money supply do little to stimulate the economy. As unemployment is growing and the financial sector weak, Bernanke and the Fed see other ways in which quantitative easing helps a recovery. Here Chritopher Woods compares today's situation in America to that of postbubble Japan. He says America is already in a liquidity trap. And the regulatory forbearance to cleanup the banking mess is similiar to that in postbubble Japan when it took the government years to get up the will and strength to straighten out the mess including breaking up the banks that are too big to fail.
Grouped Articles
Is the U.S. Economy Turning Japanese?
Wall Street Journal 10/27/2009
Economist 10/15/2009
Economist 12/30/2009
Fed’s Bullard Raises Policy Concerns
Wall Street Journal 07/29/2010
Opinions Are Split on Fed Policy Move
Wall Street Journal 11/01/2010
Ben S. Bernanke - What the Fed did and why: supporting the recovery and sustaining price stability
Washington Post 11/04/2010
Philadelphia Federal Reserve bank president Charles Plosser and other expert criticism of Fed chairman Bernanke's monetary policy.
01/04/2010
Plosser says the Fed cannot create jobs or retrain a workforce. In the short term the Fed can act against disinflation, says Plosser, but in the long term Fed policy such as the one being pursued by Bernanke can backfire and lead to more instability in the economy. The Dallas Fed President, Richard Fisher, expresses similiar views.
Grouped Articles
Martin Feldstein: The Federal Reserve's Policy Dead End
Wall Street Journal 05/09/2013
Once Again, the Fed Shies Away From the Exit Door
Wall Street Journal 07/11/2013
Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
Bravo for Bernanke and the QE Era
Wall Street Journal 01/20/2014
Wall Street Journal 01/18/2011
Wall Street Journal 02/09/2011
Allan Meltzer's program for the economy and advice to the Fed and policymakers in 2011-2012
08/11/2011
Allan Meltzer on the dangers of a loose monetary policy and the need for an early exit strategy.
Grouped Articles
Once Again, the Fed Shies Away From the Exit Door
Wall Street Journal 07/11/2013
Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
The Folly of Economic Short-Termism
Wall Street Journal 08/11/2011
This Time, Maybe the U.S. Is Japan
Wall Street Journal 08/13/2011
Kansas City Fed President Defies Conventional Wisdom
New York Times 08/13/2011
From World War II, Economic Lessons for Today
New York Times 08/13/2011
European Central Bank interest rates adjustments 2011-2013
03/04/2011
ECB interest rate adjustments and monetary policy.
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
New York Times 09/25/2011
ECB Struggles With Low-Altitude Flying
Wall Street Journal 11/10/2013
Shares Rise on Wall Street and in Europe
New York Times 06/06/2012
Wall Street Journal 03/04/2011
European Central Bank Raises Rates as Expected
New York Times 07/07/2011
Expert opinion on stagflation in the U.S. in 2011-2012
05/24/2011
High inflation and high unemployment in mid 2011. The effects of the Fed's quantitiative easing on emerging markets with the capital inflows into these countries and higher inflation. Other effects of zero interest rates being the lack of interbank lending.
Grouped Articles
Wall Street Journal 05/24/2011
Hiring in U.S. Slowed in May With 54,000 Jobs Added
New York Times 06/03/2011
Wall Street Journal 06/07/2011
Where Rents Go, Will Inflation Follow?
BusinessWeek 06/09/2011
Inflation Jump Undercuts Growth Prospects
Wall Street Journal 08/17/2011
Commodities Boom View Doesn't Budge
Wall Street Journal 08/17/2011
Lawrence Lindsey on how Bernanke's Fed has boxed itself in with no choice but to keep interest rates low and no clear exit strategy
01/04/2010
Economist Lindsey says Fed chairman Bernanke has to keep interest rates low for the U.S. government to be able to cope with the increase in borrowing costs that normal interest rates would bring. The normalized interest rate - the rate at which the U.S. government was able to borrow for the last three decades- is about 5.7%. At that rate the U.S. government would add $800 billion to borrowing costs for 2021, says Lindsey. The U.S. now borrows at about 2.5%
Grouped Articles
Once Again, the Fed Shies Away From the Exit Door
Wall Street Journal 07/11/2013
Wanted: A Boring Leader for the Fed
New York Times 08/20/2013
Reflections by America’s Buddha of Banking
New York Times 01/16/2014
Wall Street Journal 06/15/2011
Fed Darkens Its Outlook but Plans No Changes
Wall Street Journal 06/23/2011
The Deficit Is Worse Than We Think
Wall Street Journal 06/28/2011
Low interest rates and Fed policy in 2010-2012
10/02/2010
Grouped Articles
New York Times 10/16/2014
Enough With the Low Interest Rates!
Wall Street Journal 10/02/2010
Wall Street Journal 10/25/2010
Wall Street Journal 10/26/2010
Opinions Are Split on Fed Policy Move
Wall Street Journal 11/01/2010
Ben S. Bernanke - What the Fed did and why: supporting the recovery and sustaining price stability
Washington Post 11/04/2010
Allan Meltzer's action plan for the economy includes reversing the excessive monetary easing starting now in October 2009 so that it can be done gradually and not hurt the economy through sudden contraction later on.
10/01/2009
Allan Melzer was co-founder an co-chairman of the Shadow Open Market Committee for over two decades, advisor to Presidents Kennedy and Reagan, and one of the foremost experts on the Federal Reserve System. He calls for the U.S. Federal Reserve to adopt an early exit strategy from loose monetary policies.
Grouped Articles
Once Again, the Fed Shies Away From the Exit Door
Wall Street Journal 07/11/2013
Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Is the U.S. Economy Turning Japanese?
Wall Street Journal 10/27/2009
Economist 10/15/2009
Jobs Now, Deficit Reduction Later
BusinessWeek 10/29/2009
Bank of England policies in 2011-2016
01/28/2008
Grouped Articles
Canadian Steps In to Lead Bank of England
New York Times 06/30/2013
In Shift, Bank of England Pledges Low Rates
Wall Street Journal 08/08/2013
Britons Digest Carney's Message
Wall Street Journal 08/09/2013
The Bank of England's Guidance Gamble
Wall Street Journal 08/09/2013
Bank of England Retains Low Interest Rate
New York Times 10/10/2013
BOE to Keep Rates Low Even After Jobless Goal Is Met
Wall Street Journal 01/23/2014
European Central Bank policies in 2010-2012.
02/05/2008
The ECB rate changes and policy in 2010-2012.
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
Shares Rise on Wall Street and in Europe
New York Times 06/06/2012
Europe’s Central Banker Engineers His Economics
New York Times 02/05/2008
2 Major European Banks Keep Record-Low Rates
New York Times 11/04/2010
ECB Seeks Funds for Capital Base
Wall Street Journal 12/17/2010
Rate Rise Signaled for Euro Zone
Wall Street Journal 03/04/2011
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