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    The Fed, Other Central Banks Prepare for the Firestorm

    The Fed has shocked us once again, and it’s probably right. There’s a firestorm on the horizon. It starts in Europe, but it threatens the U.S. economy just as surely, and the Fed is getting ready. The most fundamental role of any central bank is to deal with a financial … More

    Obama Confirms Fears About New Financial Regulator

    The newly created Consumer Financial Protection Bureau (CFPB) took a step forward today to getting its first director, as the Senate Banking Committee voted 12–10 to confirm Richard Cordray in the post. Even before the vote, however, President Obama raised the stakes. Referring to Bank of America’s decision to impose … More

    Supply and Demand, Part II: The Money Supply

    My recent post explained why President Obama’s newly proposed $447 billion spending package aimed at boosting total demand is doomed to fail. Some commenters offered a challenge to that assertion. The basis for assessing the spending package: Economic growth is determined by the supply side of the economy, beginning with … More

    Restoring Economic Growth with a Stable Dollar

    The world is in economic crisis. Quite understandably, much attention has been given to cutting runaway government spending, a fundamental cause of the crisis. Much less attention has been given to the fundamental defects of the monetary system. These defects are at the heart of the economic collapse. Both budgetary … More

    Heritage Radio: Member Questions, U.S. Credit Downgrade, Poverty

    This week’s Heritage Libertad Radio program – half in English, half in Spanish – covered the recent S & P downgrade, including a discussion with economist JD Foster; a discussion on the recent report on poverty with expert Robert Rector; and a segment answering member questions. Among them: How does … More

    Top 10 Reads: August 10, 2011

    Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Russian ‘reset’ malfunction – Ariel Cohen How Obama can get re-elected: Act like Reagan – Neil Reynolds After $65 billion, Fannie and Freddie want more of your money – Abby W. … 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

    Video: JPMorgan's Dimon Takes on Fed Chairman Bernanke

    The U.S. economy continues to drag, but why’s the recovery going so slowly? The 13.9 million unemployed Americans aren’t the only ones who want to know. Yesterday, following a speech by Federal Reserve chairman Ben Bernanke (who described the economic recovery as “frustratingly slow”), JP Morgan Chase CEO Jamie Dimon … More

    One Clap for House Effort to Curb New Financial Bureau’s Power

    A House subcommittee on Wednesday approved legislation to modify the new Consumer Financial Protection Bureau (CFPB). Spawned by the vast Dodd–Frank financial regulation statute, the CFPB (as originally structured) enjoys sweeping powers over all manner of consumer credit—without adequate accountability. Yesterday’s action is a welcome start to taming the CFPB, … More

    Another Recession, Already?

    When economists forecast the economy, they tend to draw straight lines. They figure out where we are and where we’re going, and they plot a line. In fact, neither contractions nor expansions are ever smooth. For various anomalous reasons in the economy and in the data, reported GDP movements are … More