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Forget the fiscal cliff: U.S. has other possible economic threats looming - The Washington Post
Keywords:
Goldfarb says everyone is focussed on the "fiscal cliff," yet there are other issues which when put together could lead to a drop of 1 percentage point in growth and add a million people to the jobless. The temporary payroll tax cut for 160 million workers was setup in Dec. 2010. The payroll tax which funds Social Security is 4.2% since then, down from 6.2%, adding about $1000 for the average family to spend. The unemployment insurance benefits which expire for millions of people will also have an impact. As will the $60 billion in spending cuts on domestic and defense spending under an agreement made in the summer of 2012.
Robert Shiller on unemployment and the failure of the U.S. Congressional Supercommittee in 2011.
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01/16/2009
The U.S. faces difficult choices in 2012-2013- efforts to close the deficit by letting the Bush tax cuts and payroll tax cuts expire and making spending reductions will lead to low growth. Not doing this will lead to growth with much higher deficits and unsustainable debt levels.
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The probabilities of another round of quantitative easing or QE III in the U.S.
06/02/2011
Probabilities for a QE 3 in June 2011 are low, with inflation expected over the next 5 years at 2.8%, as suggested by TIPS. The Fed's thinking as reflected in comments by presidents of Fed regional banks is that there will be growth, even if it is "frustratingly slow at times." The Fed could act if a deflationary trend sets in. The extraordinary amount of liquidity- with about $2 trillion of bond purchases by the Fed since the 2008 crisis -acts as a counter weight to the housing slump, and to weak data for jobs and manufacturing.
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Fed Holds Steady as Economy Slows
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06/15/2011
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Fed Pledges Action Until Economy Shows Gains
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QE II, QE III and the housing industry in the U.S.
09/17/2012
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Fed Faces Hurdles in Bid to Aid Housing
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Housing Market Displays New Vigor as Prices Rise
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Forget the fiscal cliff: U.S. has other possible economic threats looming - The Washington Post
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01/27/2009
With 40% of the unemployed in the U.S. shown as long term unemployed, mismatch in skills and other structural problems with unemployment, the U.S. Federal Reserve policies of Fed chairman Bernanke are geared to addressing this problem.
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Bernanke Plays Down Link Between Jobless Rate, Fed Moves
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Economy May Be Getting Its Wings Clipped
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Expectations for the U.S. economy in 2013 under current policies
09/28/2012
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Forget the fiscal cliff: U.S. has other possible economic threats looming - The Washington Post
Washington Post 10/14/2012
Economy Poised to Nudge Ahead in 2013
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U.S. Federal Reserve and policies to counteract the effects of the "fiscal cliff" on GDP and economic growth in 2013
08/22/2012
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Bernanke Plays Down Link Between Jobless Rate, Fed Moves
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In Surprise, Fed Decides to Maintain Pace of Stimulus
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06/15/2011
Negotiations for consensus and communication with markets under Fed chairman Bernanke.
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Bernanke Takes On Critics of Fed Policy
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Forget the fiscal cliff: U.S. has other possible economic threats looming - The Washington Post
Washington Post 10/14/2012
Wall Street Journal 12/13/2012
Impact of the U.S. Federal Reserve's QE III policy on other countries
06/15/2011
Grouped Articles
India's Central Banker Lobbies Fed
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Bernanke Takes On Critics of Fed Policy
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U.S. Federal Reserve chairman Bernanke's defense of QE III
06/15/2011
Bernanke's defense of the Federal Reserve's QE I, QE II, and QE III. focusses on keeping interest rates down because higher interest rates would increase borrowing costs of the government. In the eurozone capital markets are setting interest rates for Germany, France, Italy and Spain. The Fed is using its monetary policies to set rates low to keep borrowing costs on U.S. debt down. It also keeps economic growth from dropping to a point where it reduces government revenues and worsens the deficit. This buys time for Congress and a newly elected administration to come together on a plan for the deficit and generating growth.
Grouped Articles
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Janet Yellen and Fed Predecessors Find Common Ground Onstage
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Bernanke Takes On Critics of Fed Policy
Wall Street Journal 10/01/2012
Forget the fiscal cliff: U.S. has other possible economic threats looming - The Washington Post
Washington Post 10/14/2012
The U.S. Congressional Budget Office (CBO) estimates of the impact of the "fiscal cliff" in 2013
08/22/2012
Grouped Articles
CBO | The Budget and Economic Outlook: 2014 to 2024
Unknown 02/05/2014
Budget Impasse Invites Recession Risk, Report Says
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Forget the fiscal cliff: U.S. has other possible economic threats looming - The Washington Post
Washington Post 10/14/2012
Firms Hit Brakes Before Fiscal Cliff
Wall Street Journal 10/25/2012
The Cliff Is a Hard Place to Compromise
New York Times 11/10/2012
Grover Norquist: Washington Enemy No. 1
Wall Street Journal 11/23/2012
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