The Three Million Dollar Baseball Card

Ranging from current sluggers to past players, the market for baseball cards has created prices that are below $2 and more than $3 million.

The $4 Trillion Question

Although quantitative easing flooded the banking system with trillions of dollars, we are still debating how much it lifted the economy.

Some Federal Reserve (Gallows) Humor

In the 2009 transcripts, Federal Reserve humor brings smiles and memories of the dire condition of finance, housing and the GDP.

How Does a Helicopter Drop $4 Trillion?

When the Federal Reserve’s three basic monetary policy tools did not work, it created quantitative easing to up economic growth and decrease unemployment.

Humor in Fed Transcripts

Below, just a reminder of one piece of the Great Recession before looking at the Fed transcripts. Lehman Brothers is the orange line.   With a typical 5-year lag, the transcripts of the 2008 Federal Open Market Committee (FOMC) meetings…

The Money Supply: The New Hundred Dollar Bill

Our story begins in 2010 when the United States announced that it would be issuing a state-of-the-art $100 bill. Designed to thwart counterfeiters, the new bill has 3-D interactive features. When you move it, certain shapes and colors shift. There…

Monetary Policy: The Punch Bowl

Sort of like Max in Maurice Sendak’s, Where the Wild Things Are, the Federal Reserve sometimes says, “And now, let the wild rumpus start.” Then though, Max cries out, “Now stop!” and sends “the wild things to bed without their…

Monetary Policy: QE Insight

At a 2002 conference honoring Milton Friedman on his 90th birthday, then Federal Reserve Governor Ben Bernanke concluded his remarks with… “Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do…

Correlation or Causation: Federal Reserve Humor

I can remember a combination of euphoria and uneasiness as we we had some early signs of the credit crisis during 2007, the stock market peaked in October, and then in December the recession began. With a typical 5-year lag, the transcripts…

QE3 and the Baby Boomers

At the beginning of yesterday’s QE3 press conference, Fed Chairman Ben Bernanke referred to the plight of savers. Similarly, during an August “Conversation With the Chairman,” Dr. Bernanke was asked, “What about the savers?” Both times, Dr. Bernanke had the…