Federal Reserve Philosophies – Then And Now

On Monday, February 13, John C. Williams, President and CEO, Federal Reserve Bank of San Francisco, gave a speech titled “The Federal Reserve’s Mandate and Best Practice Monetary Policy.” Although I don’t agree with many aspects of the speech, I found various aspects to be notable.  I would like to highlight one excerpt in particular, … Read moreFederal Reserve Philosophies – Then And Now

George W. Bush’s “Decision Points” Book – Chapter 9 – Notable Aspects

I think it is important to reflect back upon the events preceding and during The Financial Crisis, and the actions taken during those periods, as they have had, and will have, substantial ramifications for our future economic situation. I have found comments made by former President George W. Bush to be interesting and notable, although … Read moreGeorge W. Bush’s “Decision Points” Book – Chapter 9 – Notable Aspects

Milton Friedman On The Fed’s Ability To Control Interest Rates

On February 14 I wrote a post highlighting Milton Friedman’s “Free to Choose” television series of 1980. From time to time I plan on commenting on various material contained therein as much of it is highly relevant to issues we are currently encountering. His following comments are particularly noteworthy given today’s economic environment and intervention … Read moreMilton Friedman On The Fed’s Ability To Control Interest Rates

Alan Greenspan – On “The Stock Market As A Stimulus”

Alan Greenspan gave an interview to The Wall Street Journal on January 7.  I found various parts to be of interest, and in many instances I disagree (partially or fully) with what he says.  I  wrote a February 3 blog post on his comments in the interview concerning the primary purpose of a central bank. … Read moreAlan Greenspan – On “The Stock Market As A Stimulus”

Ben Bernanke’s Speech And Q&A On February 3, 2011

I could comment extensively on Ben Bernanke’s speech and Q&A at the National Press Club yesterday, as I partially and fully disagree on many of the comments he made.  I find it unfortunate that official transcripts of this and previous Q&A sessions are not available.  (speech video and transcript;  Q&A video and partial transcript) One … Read moreBen Bernanke’s Speech And Q&A On February 3, 2011

Quantitative Easing Exit Issues

During QE1 (the first round of The Federal Reserve’s Quantitative Easing) there seemed to be substantial commentary and discussion concerning the exit of such a program. Over the last few months the discussions over the exit strategy seem to have diminished greatly – despite the start of QE2 and speculation of additional QE programs, i.e. … Read moreQuantitative Easing Exit Issues

Nassim Taleb Quote On Bernanke

In the November 22 – November 28 Bloomberg BusinessWeek, p23, Nassim Taleb is quoted as saying the following, which I find interesting: “Bernanke is someone who talks about returns without talking about risk.  It’s identical to a pilot who talks about speed but not about safety.  The measures he is using may work, but should … Read moreNassim Taleb Quote On Bernanke

George W. Bush / Larry Kudlow Interview November 2010

Last Monday, CNBC aired a recent interview (with a transcript) of former President George W. Bush by Larry Kudlow.  The interview focused on George W. Bush’s recently published book (“Decision Points”) and the Financial Crisis of 2008-2009. I found various comments by George W. Bush to be interesting.  In many instances I disagree with what … Read moreGeorge W. Bush / Larry Kudlow Interview November 2010

Ben Bernanke November 6, 2010 Remarks On QE2

On Saturday (November 6) Ben Bernanke took part in a panel discussion.  This was part of The Federal Reserve conference “A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve.” I found these comments, pertaining to QE2, to be highly notable: Ben Bernanke: “There is not really, in my mind, as … Read moreBen Bernanke November 6, 2010 Remarks On QE2

Ben Bernanke On QE2

Ben Bernanke wrote an op-ed in The Washington Post yesterday titled, “What the Fed did and why: supporting the recovery and sustaining price stability.” I could write very extensively about this piece as it is highly notable on several fronts.  For now, I will limit my comments. My analysis indicates that the risks of QE … Read moreBen Bernanke On QE2