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Grand Central: The ECB’s New Math: 5+5=QE

The Wall Street Journal’s Daily Report on Global Central Banks for Wednesday, August 27, 2014
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“September and October of 2008 was the worst financial crisis in global history, including the Great Depression.” –Ben Bernanke

Source: http://blogs.wsj.com/economics/2014/08/27/grand-central-the-ecbs-new-math-55qe/?mod=WSJBlog

Odds and Ends as Jackson Hole Notebook Closes

The Federal Reserve’s annual Jackson Hole economics symposium, sponsored by the Kansas City Fed, is in the record books. Fed Chairwoman Janet Yellen and European Central Bank President Mario Draghi captured the headlines. But lots happened outside of their prepared texts. Here’s a rundown of odds and ends we picked up but which got buried in stories or left out altogether.
1. Added to Yellen’s dashboard:

Source: http://blogs.wsj.com/economics/2014/08/25/odds-and-ends-as-jackson-hole-notebook-closes/?mod=WSJBlog

ECB Economists Find Benefits in ‘Fiscal Devaluation’

One of the thorniest issues facing the euro zone is how members of the 18-country currency bloc can improve competitiveness and exports without having a national currency that can be devalued.
In a paper published by the European Central Bank, a trio of economists have come up with a way: “fiscal devaluation.”

Source: http://blogs.wsj.com/economics/2014/08/22/ecb-economists-find-benefits-in-fiscal-devaluation/?mod=WSJBlog

Despite Retreat, Fed to Keep Bond Buys in Policy Toolkit

The Federal Reserve is on track to end its historic bond-buying program in October, but that won’t mean the disappearance of a central banking tool that proved controversial inside and outside the institution.
Though deeply divisive on Wall Street and in Congress and academia, many top Fed officials believe their bond buying helped stabilize markets during the crisis and support economic growth afterward. This means the policy-known to some as quantitative easing or QE—could be dusted off in the future in the event of another economic calamity.

Source: http://blogs.wsj.com/economics/2014/08/21/despite-retreat-fed-to-keep-bond-buys-in-policy-toolkit/?mod=WSJBlog

What’s on the Docket for Global Central Banks This Year?

Central-banking fans have a new tool to help them plan the rest of the year.
The Journal has created an interactive Global Central Banks Calendar, a database of coming releases by major central banks including the Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan.

Source: http://blogs.wsj.com/economics/2014/08/19/whats-on-the-docket-for-global-central-banks-this-year/?mod=WSJBlog
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