NYT Says More Worker Suffering Needed to Bring Inflation Down
The New York Times is here to tell you that inflation is still a problem, and more suffering for the working class is the solution.
‘She Intended Not to Ignore Things Related to Climate, as There Is Pressure to Do’
“Oil and gas has, for a long time, pressured financial regulators, pressured bank regulators, to adopt essentially biased rules.”
Shireen Al-Adeimi on Yemen, David Arkush on Fed Climate Veto
Yemen is not a rhetorical device. It’s a country of human beings in crisis.
‘The Fed Is a Political Institution That Pretends Not to Be Political’
“The public, because it’s not very well-represented by their elected representatives, is kept distanced from those arguments, and therefore doesn’t even know they’re going on, much less have a voice in them.”
Federal Reserve ‘Independence’ Means It’s Free to Serve the Financial Industry
While the New York Times is right to warn about filling the Fed with people with no understanding of economics, it is wrong to imagine that we have in general been well-served by the Fed in recent decades, or that it is necessarily independent in the way we would want.
The Case Against Raising Interest Rates Is Simple, Despite WaPo’s Efforts to Confuse It
The question here is pretty simple, in spite of Robert Samuelson’s efforts to sow confusion. There is very little plausible benefit from raising interest rates and slowing the economy at a point where the economy is far below its potential by almost any measure.
David Stockman’s American Economic Horror Story
Former Reagan budget director David Stockman is outraged–outraged I tell you!–by the Federal Reserve increasing the money supply. In a lengthy op-ed on the front page of the New York Times Sunday Review (3/31/13), he condemns “the mad money printers at the Federal Reserve” with their “egregious flood of phony money” and “a radical, uncharted […]
Now We’re Told the Fed Could Do More—But Not Why They Don’t
The fact that the Federal Reserve could be doing much more to stimulate the economy—but so far has chosen not to do so—is finally getting some prominent corporate media attention. The New York Times wrote today (7/15/10), referring to Fed chair Ben Bernanke: As Mr. Bernanke pointed out in a speech in 2002, when he […]
Presenting the Fed as Financial Philosopher Kings
AP‘s story (1/28/10) on Ben Bernanke’s reconfirmation as chair of the Federal Reserve states plainly what is more usually the unstated assumption in corporate media coverage of the Fed: The battle over Bernanke’s confirmation has been a test of central bank independence, a crucial element if the Fed is to carry out unpopular but economically […]
