Tim Iacono submits: Not that anybody probably cares, with all the many other more important world events in the news such as the disaster in Japan, the bloodshed in North Africa, the unrest in the Middle East, the resurgence of the credit crisis in Europe, and the myriad of festering problems in the U.S., but Fed Chief Ben Bernanke’s first interest rate cut
Tim Iacono submits: Well, at least someone in the mainstream financial media has an idea about why Fed chief Ben Bernanke’s comments about gold last week were at the same time so fascinating and so alarming.
By Gary Gordon: During Alan Greenspan’s tenure at the helm of the Federal Reserve (1987-2006), the investment community created a phrase to capture the former chairman’s wordiness. “Fed Speak” aptly described the long-winded ambiguity in his statements. In fact, it is likely that Mr.
When representatives of American power encounter officials in less rich countries, they are prone to suggest that any failure to reach the highest standards of living is due in part to weak political governance in general and the failure of effective oversight in particular. Current and former US Treasury officials frequently remark this or that government “lacks the political will” to exercise responsible economic policy or even replace a powerful official who has clearly become a problem.
The American Economics Association is meeting in Atlanta, where Simon says it is frigid. I went to an early-January conference in Atlanta once. There was a quarter-inch of snow, the roads turned to ice, and everything closed. All flights were canceled, so I and some friends ended up taking the train to Washington, DC, which had gotten two feet of snow, and eventually to New York.