by Henry Oliner | Sep 30, 2019 | Economics
The bailout of the overnight repo market by the NY Fed has raised a lot of questions. Why was the financial market unable to respond without Fed help? What caused such an unpredictable surge in demand that caused rates to double overnight? Such conditions are ripe for...
by Henry Oliner | Dec 16, 2017 | Economics
Phill Gramm and Thomas Saving write A Booming Economy Will Challenge the Fed in the WSJ I recommend reading it entirely, but you may encounter a paywall. The authors articulate a concern I have expressed that an expanding economy with put upward pressure on interest...
by Henry Oliner | Dec 16, 2016 | Business, Economics
from Steve Forbes, The Fed Needs A New Leader–And New Policies, Too: Yellen openly and unapologetically made clear that our central bank still hews to the discredited theory that prosperity causes inflation. “The economy is operating relatively close to full...
by Henry Oliner | Nov 20, 2016 | Economics
The Man Who Knew by Sebastian Mallaby is an excellent biography of Alan Greenspan, but it may have greater value in understanding the power and limitations of the Federal Reserve itself. Greenspan has been accused of being an ideologue by some and a betrayer of free...
by Henry Oliner | Oct 4, 2016 | Economics
from Steve Forbes at Forbes Magazine, Reckoning for Biggest Wrecker of U.S. Economy: Economies aren’t machines that can be calibrated, like automobiles. They are billions of people making decisions numerous times a day. The idea that central planners, whether they’re...
