Consumer Financial Protection

I have been curious about why the new Bureau of Consumer Financial Protection (BCFP), established by the Dodd-Frank financial reform bill, is an independent bureau within the Federal Reserve. While I have not discovered a satisfactory answer, I have learned…

A New Fed?

“Independent” is the first word that comes to mind when I think about the Federal Reserve. Overseeing the supply of money and credit, the Fed is supposed to be an independent Federal agency. I wonder how the following basics of…

A Fourth Monetary Policy Tool

The chasm between economics textbooks and real life has grown larger. It is just tough to keep up. Looking at monetary policy, the most typical tool used by the Federal Reserve takes students so very logically to the Federal Open…

Can Less Become More for the Federal Reserve?

Econ talk lecture (January 11, 2010) http://www.econtalk.org/archives/2010/01/belongia_on_the.html Michael Belongia, University of Mississippi economics professor (and past St Louis Fed ecoonmist) interviewed by Russ Roberts It was a good interview. (a little longer than one hour) I was most impressed by…