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Fed Policy, Revenues, Help Relieve U.S. Budget Pressure: CBO

The Federal Reserve has helped put the federal budget on a more sustainable path by holding interest rates very low and making big payments to the U.S. Treasury, according to a new report from the Congressional Budget Office.
The CBO said Wednesday the federal budget deficit over the next decade will be smaller than previously forecast as the government continues to benefit from low borrowing costs. The Fed has held short-term interest rates near zero since late 2008 and is buying bonds to lower long-term rates.

Source: http://blogs.wsj.com/economics/2014/08/27/fed-policy-revenues-help-relieve-u-s-budget-pressure-cbo/?mod=WSJBlog

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
Sign up for the newsletter: http://on.wsj.com/grandcentralsignup.
“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

Peter Diamond Thinks the Beveridge Curve Might Not Tell Us Much of Anything

One of the most popular and unusual charts in labor market economics is the Beveridge Curve,  which tracks the relationship between job openings and the unemployment rate. The curve shows that, in general, as the unemployment rate rises the number of job openings falls, and vice versa.

Source: http://blogs.wsj.com/economics/2014/08/26/peter-diamond-thinks-the-beveridge-curve-might-not-tell-us-much-of-anything/?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

More Economists See Fed Policy As Too Loose

Economists overwhelmingly expect the Federal Reserve to hold off raising short-term interest rates until at least 2015. But nearly a third say doing so would mean the central bank waited too long, a new survey found.

Source: http://blogs.wsj.com/economics/2014/08/25/more-economists-see-fed-policy-as-too-loose/?mod=WSJBlog

Fed’s Lockhart: Unemployment Rate Overstates Degree of Job Market Progress

The Federal Reserve can likely wait until the middle of 2015 to begin raising interest rates from rock-bottom lows, given a job market that still shows signs of weakness and inflation that remains below central bank’s 2% target, Atlanta Fed President Dennis Lockhart said.

Source: http://blogs.wsj.com/economics/2014/08/22/feds-lockhart-unemployment-rate-overstates-degree-of-job-market-progress/?mod=marketbeat
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