Fed

Well-practiced in staring contests.That game of chicken going on between OPEC and American oil producers? Well, it’s not like anyone asked, but rest assured that Janet Yellen won’t be the first to blink. Read more »

Because if there is, there’s not a hell of a lot she can do about it. Read more »

You can call James Bullard a naïve optimist. Go ahead, do it. You’d almost certainly be right, but he doesn’t care. He knows that everything’s going to work out perfectly, and that means that the people who actually get a say on these things—and who are saying he’s crazy—will come around and say, “Hey, that James Bullard really is a great guy. And all of the improbably wonderful things he said would happen did happen. Let’s give him the recognition he deserves with an interest-rate hike for Christmas.” Read more »

  • 04 Jun 2014 at 2:04 PM

Richard Fisher Feeling Like His Old Self Again

Following his brief flirtation with sticking by QE3, which he previously called the “ruination of our economy and lifestyle,” the Dallas Fed president is back to wanting to see it sprinting into the sunset as soon as possible, which apparently means October. Read more »

  • 23 May 2014 at 9:30 AM

Mysterious Woman Tells NYU Kids About Central Banking

Standing at the podium at Yankee Stadium for NYU’s commencement Wednesday, Janet Yellen was inspired. Not by the 27 championships and history of greatness and fantastic, unceasing ability to print money, which is, by right, her job. Instead, the first woman to head a major central bank looked at the 66% of the time Babe Ruth and Lou Gehrig didn’t get a hit, to ignominious choke-jobs in decade-old playoff series, perhaps even to the travails on Steve Cohen’s new drinking buddy, dug deep, and told the 22 year-olds to get ready for failure. Read more »

The fake currency is still not the Fed’s problem, which is perhaps why the central bank can look upon it—from a safe distance—with a benign, almost encouraging eye. Those whose jurisdiction encompasses the sort of crimes that the Fed says can just as easily be committed with its own money are less so inclined. Read more »

  • 20 May 2014 at 1:33 PM

George W. Bush Didn’t Know Some Things

Hardly news, yes. And hardly surprising that one of the things he didn’t know was what a TED spread is. But he overcame his natural hostility to those who do know such things, and elevated a genial, bearded, middle-aged man named Ben Bernanke to help.

Which he did, albeit not enough to earn his own portrait. Read more »

He’s sitting out the next couple of years of FOMC meetings, where at some point Janet Yellen & co. will decide to raise interest rates for the first time in eight years and counting. But St. Louis Fed President James Bullard has a feeling—admittedly not one widely shared—that things are just going so great that the inevitable is just seven to 10 months away. Read more »