Federal Reserve

Archive for Federal Reserve

Is Market Monetarism Pining for the Fjords?

Scott Sumner has a new post at EconLog saying that Keynesianism isn’t just resting (in reference to the famous Monty Python “Dead Parrot” sketch). Scott does a great job busting Mike Konczal, who earlier in 2013 had said the year would be a great test for market monetarism vs. Keynesianism. Since the Keynesian warnings about […]

Krugman on the Bubble Economy

I really like these chats Paul Krugman has with Joe Weisenthal, because you can get his news-you-can-use take on something without all the hemming and hawing, and lack of body language, from multiple blog posts. Also, Weisenthal adds to the clarification because he will make sure Krugman gets a chance to clear up any possible […]

Some Sumner Shuffles

I often focus on Krugman Kontradictions, but here at Free Advice we have given examples of Sumner Shuffles. Now Scott is much more slippery than Krugman, so to get a true Sumner Shuffle is difficult. I’ve been checking his blog lately to see what he has to say about the Fed’s “taper” announcement–it was expansionary […]

Stephen Williamson Takes the Stand on QE and Price Inflation

In light of all the attacks on Stephen Williamson–Noah Smith has provided the best summary I’ve seen in his updates at this post–my inner defense attorney instincts have been activated. (Nicky, this is not Nam, this is blogging; there are rules.) So I offer the following testimony. Do with it what you will: Bob Murphy: […]

Potpourri

==> The erudite von Pepe notified me that John Taylor has been blogging about Summers/Krugman as well; here’s a good example. ==> Here’s me with Tom Woods talking on this topic. ==> Speaking of Summers/Krugman, apparently the Onion anticipated their stance. ==> Mark Spitznagel is not on the Bitcoin bandwagon. ==> Danny Sanchez has a […]

Chinese Officials Are Backing Off Dollar Purchases

From Bloomberg: The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation. “It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Yi Gang, a deputy governor at the central bank, […]

Yet More Incontrovertible Evidence That Krugman Believes the Fed Can Create Bubbles

[UPDATE in text.] This is really funny, to see the Krugman defenders in the comments being reduced to such grasping. (In fairness, at least one of the people involved is motivated not by his love for Keynesian policies, but by his love to contradict me.) So let me offer yet even more damning quotations to […]

Yes, Larry Summers Is Saying Central Bank Policy Encourages Bubbles (Which He Thinks Is a Second-Best Solution Because of Secular Stagnation)

OK it took me a bit to understand the point that Keshav (and then Ken B.) were making in response to my Summers/Krugman commentary on bubbles. They (and maybe others, sorry if I’m leaving people out) were saying that yes Summers/Krugman were warning that we would have a string of bubbles, but that no they […]