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NY Times: Divergent Fed Views
Calculated Risk —
From the Edmund Andrews at the NY Times: Rift Emerges in Fed Over When to Tighten Money Fissures are developing among policy makers at the Federal Reserve as they debate how and when to start raising the benchmark interest rate from its current level just above zero. ... One hint of the discord came Tuesday, in a speech by Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City. Though he stopped short of calling for immediate rate increases, Mr. Hoenig made it clear that he was getting impatient. “My experience tells me that we ...
Rift at the Fed?
Across the Curve —
The New York Times is running a story about a rift at the Federal Reserve regarding the delicate matter of raising interest rates.
I believe that one day next week the Federal Reserve will release the minutes of the last FOMC conclave. That should prove interesting as will have a chance to see if a split is deceloping.
Open Mouth Operations
self-evident —
Calculated Risk draws our attention to a NY Times piece tonight:
Fissures are developing among policy makers at the Federal Reserve as they debate how and when to start raising the benchmark interest rate from its current level just above zero.
What is unusual is not that there are disagreements on the Federal Reserve Board, but that these disagreements are being aired publicly. In the past two weeks, no fewer than half a dozen FRB members have made public statements about the “exit strategy” for the Fed’s ...
Beware the dollar hawks
Paul Krugman —
... , the buzz about the dollar — the growing clamor to do something about its decline — is coming from a number of people. And it has me worried, because it’s part of the groundswell of demands that we begin an exit strategy from loose monetary policy now now now, even though nothing in the actual economic situation warrants such action. Ed Andrews’s article on dissension at the Fed was deeply disturbing when you bear in mind that Fed presidents historically ...
The Fed's attempt to assuage inflation fears that don't need assuaging
Angry Bear —
... 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: ...
