Archive for the ‘fed’ tag
The Professor as Policy Maker
To watch the rise and fall of Alan Greenspan’s stock with the public is nothing short of spectacular. The former Federal Reserve chairman was revered as a savant gracing us with his unparalleled intellect that could keep the economy running strong. Then, in the lightening fast manner that only public opinion is capable of, he was roundly condemned for not doing [...]
The Fed Cuts Rate
The Federal Reserve cut the benchmark rate by a half point, in what is surely more confirmation of the unfriendly economic environment. Full release below:
The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent.
The pace of economic activity appears to have slowed markedly, [...]
