Word: feds
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Dates: during 2000-2009
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...Current Fed chairman Ben Bernanke has had to explain himself on Capitol Hill a lot more often than that. As Bernanke waited to give his semiannual Humphrey-Hawkins testimony before the House Financial Services Committee on the morning of July 21, Alabama Republican Spencer Bachus thanked him for his "willingness to make yourself available on countless numbers of occasions." Since February, the Fed chairman has been called to testify about Bank of America's takeover of Merrill Lynch, the government's bailout of AIG, the federal budget deficit, the Fed's various new lending programs and the economic outlook...
...brother, also called Malachy. "Insane outbreaks of laughter saved us." McCourt once said that as a child he dreamed of being a prison inmate in the U.S., for the food and warmth. Instead he became a hospital inmate: he caught typhoid at age 10 and spent three months well fed in a well-heated hospital. The hospital also had a well-stocked library. It was there that he read his first lines of Shakespeare and began a lifetime as a devoted reader...
...around the data - and yet we routinely drop such nuance when we talk about economic variables in public conversation. "One of the things that gets lost is the fact that there are ways of trying to assess errors in forecasts," says Robert Eisenbeis, a former researcher at the Atlanta Fed who is now chief monetary economist at the money-management firm Cumberland Advisors. "It's possible to think about these forecasts not as 'GDP is going to be 0.6% this year' but as 'GDP is going to be 0.6% plus or minus something.' What's relevant is how big that...
Even with averaging, though, forecasts can still be wildly disappointing - as the Philadelphia Fed's Survey of Professional Forecasters shows. In mid-February, the economists collectively predicted a second-quarter unemployment rate of 8.3%. The difference between that and the actual figure, 9.3%, translates into 1.5 million more people unemployed...
...morning, is still declining, though the pace of decline is the slowest in eight months, adding another green shoot to the optimists' garden. A further boost to investor confidence came from just released minutes of the June meeting of the Federal Open Market Committee. The minutes revealed that most Fed officials believe the 18-month old recession is nearing...