Measuring QE’s Impact

I have written extensively about Quantitative Easing (QE) and Interventions as I believe many aspects of these practices lack recognition and understanding.   My analyses indicate that QE (also referred to as “Large-Scale Asset Purchases” (LSAPs)) in general carries an array of risks, detrimental impacts, and unintended consequences.  It has complex impacts on the economy and markets. Over time, … Read moreMeasuring QE’s Impact

Potential Losses In The Federal Reserve’s Portfolio

I have written extensively on the issue of Quantitative Easing (QE) and Interventions as I believe many aspects of these practices lack recognition and understanding.   Quantitative Easing in general carries an array of risks, detrimental impacts, unintended consequences, and complex impacts on the economy and markets. One such set of dynamics embedded within QE that … Read morePotential Losses In The Federal Reserve’s Portfolio

Notable Statement Concerning Continued Monetary Stimulus

While I don’t necessarily agree with any or all parts of the following statement, released yesterday, from Financial Services Committee Chairman Jeb Hensarling (R-TX), I do think that it is notable, and as such should be recognized. Here is the statement, which is in response to continued monetary stimulus as announced in yesterday’s Federal Reserve FOMC Statement : … Read moreNotable Statement Concerning Continued Monetary Stimulus

Dynamics And Risks Of The Federal Reserve’s Portfolio

In previous posts I have written extensively of the intervention measures taken by the Federal Reserve, including the many risks involved with Quantitative Easing measures.   One of the risks is the resulting size of the Federal Reserve’s portfolio and its inherent susceptibility to large (on a mark-to-market basis, as opposed to accounting basis) losses. … Read moreDynamics And Risks Of The Federal Reserve’s Portfolio

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

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 Impact Of QE2

Recently Alan Greenspan wrote a paper titled “Activism.” (pdf)   While I don’t agree with many of its analyses and conclusions, I am finding it to be an interesting document. On March 4, CNBC interviewed Greenspan.  I found one response by Greenspan to be especially notable.  The question happens at the 42 second mark: interviewer:  … Read moreAlan Greenspan On Impact Of QE2