Some Tightening!
When the SFP is complete at $200 billion, excess reserves will top today's $1.137 trillion.
When the SFP is complete at $200 billion, excess reserves will top today's $1.137 trillion.
Bernanke promises redoubled ease. The White House promises redoubled "change."
Data continues to confirm that we're only in a recovery, not a real expansion.
It makes recession-end "official," but leaves a slow road back to full employment ahead.
Another smart Obama appointment emphasizing policy continuity.
The "extended period" language will stay -- there's just no reason to drop it.
The Schumer-Graham tariff bill is back, and China will probably blink again.
So many anti-growth long-fuse tax bombs, and so little reaction.
A weak report: employment and unemployment are growing at the same time.
The yuan moves oil, jobs move consumption, and unemployment keeps the Fed on hold.