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    The Fed Inflation-Unemployment Trade-Off: Outlasting the Energizer Bunny

    George Selgin has a new post on the Free Banking Blog that highlights the economic quandary the Fed now has the U.S. in. The post uses subtle sarcasm to make an excellent point, but many readers may miss Selgin’s main idea. Selgin starts by discussing the current policy debate surrounding … More

    The Fed’s Monetary Policy Matters, Too

    It’s easy to get distracted with news like the guessing game of who will replace Ben Bernanke. But the more important issue is: What is the U.S. doing with its monetary policy and why? What we’ve learned about monetary policy since the Fed was created is surely more important than … More

    Next Fed Chairman: Independence Is Paramount

    Larry Summers withdrew his name from consideration for the next chairmanship of the Federal Reserve. The office currently occupied by Ben Bernanke wields enormous power over short-run economic changes. Poor decisions at the Fed can cause recessions or boost markets briefly. For that reason, the most important feature of the … More

    Bernanke’s Defense of Fed Policies Neither Comforting nor Convincing

    Do the risks from the Federal Reserve’s trillion-dollar annual stimulus program justify the rewards? That was the central question at Tuesday’s Senate Banking Committee hearing featuring Fed chairman Ben Bernanke. Bernanke worked hard to defend the Fed’s quantitative easing policy, but he appears to oversell the rewards by a mile … More

    Morning Bell: "Default" Is a Red Herring in Debt Ceiling Debate

    Yesterday, President Obama accused his opposition in Congress of threatening to “default” on America’s loans in order to make a political point. I am not going to have a monthly or every three months conversation about whether or not we pay our bills because that in and of itself does … More

    QE4: Another Big Step Down a Dangerous Road

    The Federal Reserve Board today announced the introduction of yet another hyper-aggressive monetary policy, dubbed “QE4” by some for the fourth round of quantitative easing. Three times a dud, fourth time a charm? Not likely. The Fed’s concerns for the economy are well-founded. The economy continues to struggle badly under … More

    Morning Bell: How Taxmageddon Will Impact You

    “I’ve said that this is a make-or-break moment for the middle class, and I believe it,” President Obama told an Ohio crowd yesterday. Indeed it is—because in a sluggish economy, American taxpayers are about to be clobbered by the largest tax increase in history. Starting January 1, 2013, Americans will … More

    Bernanke’s Message to Congress: Your Turn for Good Economic Policy

    The stock market rose Wednesday in anticipation of Federal Reserve Board Chairman Ben Bernanke’s remarks Thursday. Traders sold Treasury bonds and bought stocks, hoping Bernanke would announce a new monetary stimulus. They were sorely disappointed. Speaking to the Joint Economic Committee of Congress, Bernanke emphasized that the Fed has America’s … More

    Morning Bell: Stopping the Largest Tax Hike in History

    The largest tax hike in history is due to strike the United States on January 1, 2013. Known as “Taxmageddon,” it would impose $494 billion in higher taxes on the American people in the first year. So terrible would be its impact that yesterday Fed Chairman Ben Bernanke warned Senate … More

    Fed Chairman Bernanke Projects Continued Slow Growth in Economy

    It’s a continued slow pace of recovery for the U.S. economy, Federal Reserve Chairman Ben Bernanke said in testimony today before the House Financial Services Committee. MarketWatch reports: At the moment, Fed officials see a recovery that “will likely remain moderate,” Bernanke said, with the unemployment rate falling “only gradually.” Inflation is … More