With all the talk of “Detroit,” you would think that Michigan would have lost the most employees, as a percentage of same, on the year. After all, the scariest graph of the U.S. MSAs isn’t scary for nothing. But the Regional and State Employment data is out for October (h/t CR), and there’s a different […]
As I am arguing on the same side as Henry Kaufman, and against the kind-hearted Mark Thoma, does the phrase “left-of-center” at the top of this blog have as much Memory Meaning as the Suzanne Vega song from Pretty in Pink? Kaufman: During the Greenspan years (1987-2006), the Fed clearly failed to recognize the significance […]
by Rebecca There is no shortage of speeches by US central bankers these days. The following is an excerpt from a NY Times article that highlights the debate among key Fed officials about the speed and method of stimulus withdrawal once the decision to exit has been made: Mr. Bernanke and other officials want to […]
by Rebecca Ex post, it is obvious that the Fed was way too tight in the second half of 2008. To be sure, the FOMC was actively engaged in its standard easing policies; however, the Fed got the Treasury to aid in its sterilization efforts, and later the Fed fast-tracked the interest on reserves (IOR) […]
Rick Perry famously declared that there was no recession in Texas, even though the only way they balanced the budget was through emergency funding. Rick Perry and the Federal Reserve Bank of Dallas appear not to talk with each other: Texas factory activity showed the first signs of bottoming out in September, according to the […]
by Rebecca Neal Soss and Henry Mo at Credit Suisse published a very interesting article, “Where is full employment in a more volatile macroeconomy?”, where they argue that the natural (long run) rate of unemployment may be shifting (they do this by showing that the Beveridge curve, which plots the the job vacancy rate against […]
Robert Waldmann Brad DeLong just posted a very interesting Draft Henry George lecture. It contains ideas which I haven’t found written down before by Brad or by Krugman. I strongly recommend reading it (for one thing I don’t know how to cut and paste from it). People who have read the draft lecture are invited […]
by divorced one like Bush Well, well, well, seems our Robert will have some more thinking to do. Via C & L to Radamisto who want’s to know if we have ADD or what comes the Bloomberg story that the money from money machine is being restarted. Morgan Stanley plans to repackage a downgraded collateralized […]
Ken Houghton notes the plural in the title, which was written not by me rather by the FRB Atlanta, which sponsored a conference of that name, hosted by David Altig of Macroblog fame (and now an SVP at the Atlanta Fed). Here is the page for presentation links.
Among their editorial suggestions for replacing Tim Geither as head of the New York FRB: Better choices would include …David Malpass, an economist who worked at the Reagan Treasury and long predicted the credit bubble…. Yes, you saw that correctly. David Malpass. Strangely, they don’t describe him as “David Malpass, former Chief Economist for Bear […]