When the Federal Reserve’s three basic monetary policy tools did not work, it created quantitative easing to up economic growth and decrease unemployment.
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…
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…
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…
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…
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…
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…
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
