Word: economice
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Stop the presses: the Fed chairman says the recession is over and the recovery has begun! Never mind that, as Bernanke noted, this is by now common opinion among economic forecasters--and has been for weeks. Also never mind that Bernanke's prediction record as Fed chairman hasn't been...
What role does the Federal Reserve have in our current economic downturn? -Brad Thomas, Kalamazoo, Mich. The Federal Reserve is the key element in the formation and collapse of financial bubbles. They're a government unto themselves. They print their own money. So if people have any concern whatsoever about...
Three main lessons present themselves. First, the lightly regulated global financial system that has evolved over the past three decades is dangerously fragile. Second, the U.S. government is capable of keeping a financial panic from snowballing into a complete economic disaster. Third, the government has not yet shown itself to...
Mission accomplished--so far, at least. In the face of a financial shock probably worse than the stock-market crash of 1929, massive government intervention averted a second Great Depression. Yes, we still got the worst economic downturn the U.S. has seen since. But while there are surely lots of...
In the months after Franklin D. Roosevelt took office in 1933, Congress legislated a transformation of the financial sector, establishing a new regime of securities regulation, creating the Federal Deposit Insurance Corporation and segregating commercial banks from Wall Street. It's not obvious that we need such a drastic overhaul...