Daily Archive: Wednesday, June 22, 2011

Bernanke’s press conference

First, the Chairman’s comments along the lines of ‘addressing our long term deficit problem will lower the risk of interest rates spiking’ yet again clearly demonstrated our Fed Chairman remains lost in some kind of fixed exchange rate paradigm, and is steering things accordingly, both directly with Fed policy and indirectly with ...Read More

Innocent fear mongering from St. Louis Fed’s Bullard

This is bad beyond description, as it displays total ignorance of the difference between interest rate determination in fixed vs floating exchange rate regimes, which may be the only thing standing between this disaster of an economy and unimaginable prosperity. Worse is that it goes unchallenged, apart from the still relatively small ...Read More