Archive for the ‘Federal Reserve’ Category

Did Bernanke defy GOP?

Wednesday, September 21st, 2011

I am not sure what to make of the letter sent to Fed Chairman Ben Bernanke from the four Republican Congressional leaders expressing their concern over any additional stimulus from the Fed.

Some Democrats have already expressed outrage that the GOP leadership is trying to strong arm the Fed and challenge its independence. Many believe the GOP is simply trying to prevent anything that can help improve the economy before next year’s election. Others may simply believe it is high time that this unelected powerful body is reined in.  

(more…)

Tags: ,
Posted in Federal Reserve | 2 Comments »

Fed frozen in time

Wednesday, August 10th, 2011

The Federal Reserve’s Federal Open Markets Committee (FOMC) shook up the markets with its statement on Tuesday that it would likely keep rates exceptionally low through mid-2013. This prompted three dissenting votes, which may have had more to do with the volatile reaction than the actual announcement. However, the announcement is pretty remarkable.

The Fed is telling us that it will maintain a zero interest rate policy—the same emergency policy that has been with us since December 2008 — for nearly two more years.  (more…)

Tags: , ,
Posted in Credit crisis, Federal Reserve, economy | 1 Comment »

Happy birthday Dodd-Frank

Thursday, July 21st, 2011

Today is the one-year anniversary of the Dodd–Frank Wall Street Reform and Consumer Protection Act. Funny as it only seemed like yesterday that we were trying to understand the various components of the massive legislation as Congress debated it.

There hasn’t been a piece of legislation so debated, maligned and blamed for negative consequences prior to most of the underlying elements of it going into affect since, well since the Obama Heath Care reform, the 2010 Patient Protection and Affordable Care Act, or PPACA.  

(more…)

Tags: , ,
Posted in Credit crisis, Federal Reserve, Regulatory/actions, economy | No Comments »

Questions not asked of Bernanke

Friday, April 29th, 2011

In pointing out the ongoing difficult with the economy, Federal Reserve Board Chairman Ben Bernanke stressed high unemployment and foreclosure rates. The foreclosure rate comment is particularly disturbing in that the Fed had made a point with its various emergency liquidity actions during the crisis that returning a flow of credit to American families and businesses was a priority.

While the Fed made sure the banks got theirs, there has been no sign of diligence from the Fed on the rest. Why didn’t  someone ask Ben specifically what have you done to “restore the flow of credit to American families and businesses” or more specifically, why didn’t you make the largesse you offered the banking sector conditioned on restoring that flow of credit.

(more…)

Tags: , , , ,
Posted in Federal Reserve, Housing, economy | No Comments »