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econbrowser.com - 3/19/2009

Quantitative easing

— econbrowser.com — The U.S. Federal Reserve yesterday finally took the step many of us had been urging for some... time. Let's start with the Fed's summary of current conditions : Information received since the Federal Open Market Committee met in January indicates ... (more) Quantitative easing

Government

Federal Reserve

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8

econbrowser.com - 3/28/2009

Money creation and the Fed

— econbrowser.com — A lot of people have seen this picture of the recent behavior of the monetary base and... wondered what it means. Figure 1. Adjusted monetary base. Source: FRED . To understand the explosion in the monetary base since September, ... (more) Money creation and the Fed

Government

Federal Reserve

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4

alephblog.com - 3/19/2009

The March FOMC Statement

— alephblog.com — Below you will see my summary of the FOMC Statement and how it changed. Before I give... you that, let me summarize what I think the changes are, the market impact, and whether I think it will work. The Changes The Fed will expand its balance sheet massively, buying another $750 billion of ... (more) The March FOMC Statement

Government

Risk Management

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Federal Reserve and the Treasury Joint Statement
Across the Curve — ... The Federal Reserve and the Treasury issued a joint statement at 430PM New York time about the role of the Federal Reserve in the ongoing credit crisis. ...

Fed Watch: Fed-Treasury Accord
Economist's View — ... : The Fed and Treasury released a joint statement yesterday afternoon that was lost amid the official release of the Geithner Plan (hat tip ...

Lawlessness Begets Lawlessness
The Market Ticker — Nice 7% rally yesterday eh? A few minutes after the close, we got this: WASHINGTON (MarketWatch) -- The Treasury and the Federal Reserve released a joint statement Monday that spells out the different responsibilities of the two agencies in dealing with the financial crisis. In the most noteworthy part of the ...

Careful with that language
macroblog — ... I don't think anyone should be dismissive of that concern, which makes item 3 of yesterday's joint statement from the Treasury and Federal Reserve particularly noteworthy: ...

Messing With The Markets
Daily Markets — ... ) you can guarantee they are going to compensate themselves.  The problem was in the inconsistent handling of the AIG situation and the lack of regulation in the first place. Moving Forward The Federal Reserve and Treasury made a joint statement Monday that would further Geithner’s push for a financial ’superregulator.’  The superregulator concept raising an interesting issue.  Clearly too big to fail is too bi g (inhibiting natural capitalistic failures as the gov’t is forced to step in).  Yet restricting these companies’ growth is difficult to rationalize in a ...

Money creation and the Fed
Econbrowser — ... Last Monday's joint statement by the Treasury and the Fed indicated that the plan is for the worst of the Fed's assets (reported as "Maiden Lane" and part of the "AIG" sums in Figure 4) to be taken over by the Treasury, and Plosser for one wants the Treasury to take all the non-Treasury assets off the Fed's balance sheet. But as the Fed has declared its intention to ...

The Daily Digest for Tuesday
InvivoAnalytics.com — Oh, the irony. [image] Economist Paul Krugman laments in America is Tarnished that, “Ten years ago the cover of Time magazine featured Robert Rubin, then Treasury secretary, Alan Greenspan, then chairman of the Federal Reserve, and Lawrence Summers, then deputy Treasury secretary. . . . in 1999 the United States was the unquestioned leader of the global crisis response. That leadership role was only partly based on American wealth; it also, to an important degree, reflected America’s stature as a role model. The United States, everyone thought, was the country that knew how to do finance right. How times have changed.” Well, maybe not. After all, ...

Snapping ropes and breaking bricks
macroblog — ... The "policy instruments" I have in mind, of course, are the pullulating new facilities that have Jim Hamilton worried. But it is worth emphasizing that many of these facilities are motivated by "unusual and exigent circumstances," a point emphasized in the recent Treasury-Federal Reserve statement (which is ...

Interactions between Monetary and Fiscal Policy
The Big Picture — ... Board of Governors of the Federal Reserve System and U.S. Department of the Treasury (2009), “The Role of the Federal Reserve in Preserving Financial and Monetary Stability: Joint Statement by the Department of the Treasury and the Federal Reserve,” joint press release, March 23. ...

Concerns about the Fed's New Balance Sheet
Econbrowser — ... unusual actions in combating financial instability and recession to come under intense scrutiny. However, increased attention to, and occasional criticism of, our activities should not lead to a fundamental change in our place within our democracy. And I believe it will not; the essential role for an independent monetary policy authority pursuing economic growth and price stability remains widely appreciated and the Federal Reserve has played that role well over the years. The recent joint statement of the Treasury and the Federal Reserve included an agreement to pursue further ...