Tag Archives: easing

Dishonesty and Candor in Monetary Policy

In the July 26, 2013 edition of the Bank Credit Analyst,  editor Jim Grant notes that when Ben Bernanke was beginning the second round of “quantitative easing,”  he described it in February 2011 Congressional testimony as equivalent to an interest rate cut. In recent Congressional testimony explaining what might be (or might not be)   a forthcoming “taper” in “quantitative easing,” he suggested that it would not be equivalent to a rate hike.

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If I Were ‘Dictator,’ QE Would End Now, Fed’s Lacker Says

Every politburo has got at least one trouble maker. The Federal Open Markets Committee is no different, Jeff Lacker serves this roll to a limited extent.

In the attached interview Mr. Lacker says a number of interesting things, among them that economic expansion after 2007 is in his opinion a break with an historical trend line (which will continue).

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