jessescrossroadscafe.blogspot.com - 12/10/2008
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We have been looking for an out-of-the-box move from the Fed, but this was not it.
The big kahuna move would have been for the Treasury and the Fed to make an arrangement in which the Fed is able to purchase Treasury debt directly without subjecting it to an auction in the public market first. ...
econbrowser.com - 12/16/2008
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econbrowser.com —
Today's announcement from the Federal Reserve marks the
end of the road for Plan A (fighting the...
recession by lowering interest rates), and the beginning of ... what? The Fed's announcement begins : The Federal Open Market Committee decided ...
(more)
Quantitative easing
japanjapan.blogspot.com - 12/8/2008
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japanjapan.blogspot.com —
With the US Federal Reserve now adopting what
is widely regarded as some variant of quantitative easing...
(QE), and with the Bank of Japan cutting interest rates amidst economic conditions which BoJ Governor Masaaki Shirakawa describes as "severe", ...
(more)
Did (or Didn't) Japan Just Re-introduce Quantitative Easing?
blogs.wsj.com - 12/17/2008
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blogs.wsj.com —
Federal Reserve held a media conference call after
today’s Federal Open Market Committee meeting, a unusual move...
that allowed reporters to receive some explanations for the Fed’s move today. The Fed’s ground rules allowed news organizations to ...
(more)
Real Time Economics : The Fed Speaks: More on Today's ...
Comments
Blog Reactions
Links 12/10/08
naked capitalism —
... After Wall St. Tremors, Office Vacancy Rates Rise in Manhattan’s Shadow New York Times The Stock Picker's Defeat Wall Street Journal Panel to Criticize Handling of Bailout Wall Street Journal. Oh, this will be so much fun! I hope I find the time to watch C-Span. Should be great theater. The problem, however, is that this will only be theater, since the TARP legislation puts the Treasury Secretary outside the reach of the law. Is the Fed Taking the First Steps to Selective Default and Devaluation? Jesse's Cafe ...
Wednesday morning links
The Mess That Greenspan Made —
... ‘Orgy’ of Nonprime Loans - NY Times Mortgage Troubles Are Moving Downtown - NY Times Week-over-week mortgage filings down 7.1% - MarketWatch Home Prices Post 12.9 Percent Decline in Oct: Report - HousingWire FED/TREASURY/BANKING Bernanke’s GM Rejection Aimed at Re-Establishing Rescue Limits - Bloomberg Fed Weighs Debt Sales of Its Own - Wall Street Journal What Could the Fed Do? - WSJ Economic Blog Is the Fed Taking the First Steps to Selective Default and Devaluation? - Jesse's Cafe US ...
Federal Reserve Bills/Notes/Bonds ?
self-evident —
... money as it wants. But as the credit crisis drags on and the economy suffers from recession, Fed officials are looking broadly for new financial tools.
The WSJ article explains what the Fed is trying to do, but not why. And on that question, there is an awful lot of nonsense in the blogosphere today.
Just for example because I am in a bad mood, the usually excellent Naked Capitalism goes off the deep end:
Jesse takes a very dim view:
But as usual the Fed ...
Twenty-five Facets of the Current Economic Scene
The Aleph Blog —
... to scandal, like illinois, it’s tough to be a state nowdays. Now you have the credit default swap [CDS] market spooking investors in your bonds.
22) So what would it mean for the Fed to issue debt? Is it just an alternative to Treasuries and the Fed’s present relationship with the US Treasury? A way to pay interest to those that participate in the Fed funds market, but can’t leave excess reserves at the Fed? Or, a way to have a sovereign default without a sovereign default?
I’m not sure, but I ...
Related Content
Federal Reserve balance sheet
econbrowser.com 12/22/2008 — Here I survey how we got here, where things currently stand, and what it all means.
Let me begin by reviewing some first principles of what the Fed is all about. How did the cash currently in your wallet get there? You withdrew it from an ATM, ...
The Federal Reserve's balance sheet
econbrowser.com 10/26/2008 — On Thursday, the Federal Reserve issued its weekly H.4.1 report , which provides details of the Fed's balance sheet. Once upon a time, this was one of the least interesting of the government's many releases of data. These days, it's become one of the ...
Balance sheet of the Federal Reserve
econbrowser.com 10/8/2008 — I was astonished when I heard that the Fed is contemplating
increasing the Term Auction Facility to $900 billion. I wanted to take another look at the ever-changing balance sheet of the Fed to see how logistically Bernanke might be able to perform ...
End the Fed
news.goldseek.com 2/5/2009 — Madame Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a ...
Fed Watch: Fed-Treasury Accord
economistsview.typepad.com 3/24/2009 — Tim Duy on the Fed's efforts to maintain its independence: Fed Treasury Accord, by Tim Duy : The Fed and Treasury released a joint statement yesterday afternoon that was lost amid the official release of the Geithner Plan (hat tip Across the Curve ...
Oh No.... (Foreign Debt Bought by The Fed)
market-ticker.denninger.net 10/28/2008 —
And so it begins... and ends ... "Oct. 28 (Bloomberg) -- Korea Development Bank was approved by the Federal Reserve to sell as much as $830 million of commercial paper to the U.S. central bank." That's right - our Federal ...
“Why is the Fed Paying Interest on Excess Reserves?”
macroblog.typepad.com 10/8/2008 — That’s the question that perplexes Alex Tabarrok . But he has a theory (which is endorsed by William Polley ):
“Today the Fed starts to pay interest on reserves. The zero interest on required reserves was an opportunity cost to banks, a tax if you ...
GUEST CONTRIBUTION - William Greider: Dismantle the Fed
prudentinvestor.blogspot.com 7/20/2009 — The calls for shutting down the Federal Reserve are rapidly growing into a chorus. William Greider , author of undeniably the best book about the Fed, " Secrets of the Temple - How the Federal Reserve Runs the Country " chimes in these days too. His book was my first milestone on the never ...
A Call For Greater Accountability For the Fed
nakedcapitalism.com 5/22/2009 —
It's been obvious to anyone who bothered paying attention that the Fed is increasingly acting as an extension of the Administration, without the oversight and disclosure to which the Executive Branch is subject. For instance, only the Federal ...
The Fed: Our Next Troubled Bank?
istockanalyst.com 4/27/2009 — Mike Larson The Federal Reserve is watching the backs of U.S. banks. But sometimes I wonder, “Who’s watching the Fed’s back? Is the Fed our next troubled bank?” You see, all of this garbage paper that’s going bad — the troubled residential mortgage ...
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