- © Richard S. Grossman and Unsettled Account, 2010-13. Unauthorized use and/or duplication of this material without express and written permission from Richard S. Grossman is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Richard S. Grossman and Unsettled Account with appropriate and specific direction to the original content.
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Tag Archives: Federal Reserve
Will the Brits go negative?
A little over a year ago, I argued that the Federal Reserve should consider charging banks for the privilege of holding their reserves. The reasoning for this is straightforward: charging interest on banks (instead of paying interest, as the Fed … Continue reading
Posted in Financial Crisis, monetary policy
Tagged Bank of England, excess reserves, Federal Reserve, Paul Tucker
1 Comment
Ben Bernanke is a much better economist than John Taylor
Writing in Thursday’s Wall Street Journal, John Taylor takes the Federal Reserve to task for its “interventionist” behavior. Taylor’s main complaint with the Fed’s conduct of monetary policy is that it is unstable and unpredictable (verging on the whimsical!). He … Continue reading
Posted in Financial Crisis, monetary policy
Tagged Alan Greenspan, Ben Bernanke, Federal Reserve, John Taylor, Paul Volcker
1 Comment
Time to go negative!
Since the outbreak of the subprime meltdown, the Federal Reserve has shown itself ready, willing, and able to adopt unconventional monetary policies in order to reverse the downturn ushered in by the financial crisis. Recent Fed innovations have included quantitative … Continue reading
Joe Queenan on core inflation
In a very entertaining piece in this weekend’s Wall Street Journal, Joe Queenen gripes about how economists measure inflation. He starts by lamenting the high cost of everything from gas, to bagels, to coffee. “You can imagine my surprise,” he … Continue reading
Posted in monetary policy
Tagged Ben Bernanke, core inflation, Federal Reserve, inflation, Joe Queenan, oil
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Don’t change the Fed’s mandate
Writing in the Financial Times, Stephen Roach concludes that it is “[t]ime to revamp the Fed’s flawed mandate.” Roach argues that maintaining financial stability should be added to the Fed’s current dual mandate of maximum employment and price stability. Such … Continue reading
