Fed Divided Over When to End Stimulus
WASHINGTON — Federal Reserve policymakers are divided over when to end extraordinary measures intended to encourage more borrowing and spending to help stimulate the U.S. economy, according to minutes of the Fed’s last meeting released Wednesday. The minutes of the Fed’s March 19-20 meeting were released at 9 a.m. EDT — five hours earlier than planned — after the Fed inadvertently sent them a day earlier to congressional staffers and lobbyists. The report showed that a few members want to end “relatively soon” a program that is spending $85 billion a month to purchases bonds. Those members say the costs likely outweigh the benefits. A few others saw the risks as increasing quickly and said the purchases would likely need to be reduced “before long.” Many members said an improved job market could lead them to slow purchases within a few months, and a few said economic conditions would likely justify continuing the program until late this year. (MORE: Obama’s Budget Would ...
Stockman fires back at Krugman, critics
Fresh off an explosive essay in the New York Times, a debate with former Obama official Peter Orszag and a torrent of criticism, former Reagan budget director David Stockman says the gold standard gets a bad rap and that the Fed’s low interest rates spur Congress to spend.
Economic Report: Government getting in economy’s way: Beige Book
Fiscal policy and President Obama’s health-care reform is retarding spending and hiring in the private sector, according to the Fed’s latest survey of economic conditions released Wednesday.
Farewell, Loud and Annoying TV Ads: The CALM Act Becomes the Law of the Land
Just when you thought Congress was utterly useless, here comes one of the great bipartisan legislative victories of our time: They turned down the volume on commercials. Since the 1960s, the Federal Communications Commission has been hearing complaints from television viewers that ads are too loud – way too loud. And the only way to fix this aural injustice, apparently, was an act of Congress. And why not? They don’t seem to be doing much else. (MORE: Why Yesterday’s Fed Announcement is a Big Deal) While Madison Avenue may not admit it, it’s clear that many advertising professionals decided that if television ad spots were simply louder than the television shows they surrounded, we just might brush the potato chips off our shirt and pay attention. So for years advertisers took advantage of older sound metering equipment used by broadcast stations to crank ads up to 11. (Wired has a great graph comparing the volume of commercials to television programming, which is almost always ...
Obama and inflation: Will Bernanke weaken the dollar?
Obama's victory means Ben Bernanke will remain as Fed chairman. If you're worried about inflation, here's how to protect yourself
Found more than 1 month ago on channel CBS