Category Archives: Monetary Policy

Is This The Economic Recovery We Want?

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa Wall Street, according to a Bloomberg survey, likes Ben Bernanke. Why would it not? The punishment the Street got for the financial crisis has been a flood of money. The nation’s financiers have … Continue reading

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Reinhart And Rogoff v. Bernanke

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa “The nation’s unemployment rate would probably be nearly a point lower, roughly 6.5 percent, and economic growth almost two points higher this year if Washington had not cut spending and raised taxes as … Continue reading

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A Strange Kind Of Goldilocks

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa US economy is in goldilocks. The three years since 2009 have seen three programs of Quantitative Easing (QE) and each of the years 2010, 2011, and 2012 has logged an annual real growth … Continue reading

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Federal Reserve’s Inflation Target And Post-Crisis Recovery

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa The Federal Reserve is mismanaging the economic recovery. Comparing past recoveries with the current episode, The Wall Street Journal in an opinion article titled Growth Deficit writes that during previous recoveries the US … Continue reading

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You Ain’t Seen Nothin’ Yet: The Financial Crises Yet To Come

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa In a second New York Times article Carmen Reinhart and Kenneth Rogoff (RR) have gracefully acknowledged their error and defended themselves from their critics. At issue was their empirical analysis relating debt and … Continue reading

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Federal Reserve Selectively Releases Federal Open Market Committee (FOMC) Meeting Minutes Early

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa Financial Times reported that the Federal Reserve’s Special Assistant to the Board Members, a Mr Brian Gross, has accidentally released the minutes of the Federal Open Market Committee’s (FOMC) March meeting a day … Continue reading

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How And Why Stocks Are Being Stoked By The Fed

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa Rise in equity prices in US on lower than normal trading volumes and flight from Europe and Japan to the safety of the relatively higher yielding US bond markets, US index funds and … Continue reading

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Forecasting Fed Policy On QE 3

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa The Federal Reserve appears to have telegraphed its thinking on its third round of Quantitative Easing, QE 3, in the recent remarks of Fed Vice Chair Janet Yellen and San Francisco Fed president … Continue reading

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United States: Comment On The March 20 Federal Open Market Committee (FOMC) Statement

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa In this article we reiterate our case for industrial policy during periods when structural unemployment is high as now. We had published a seminal technical paper in these pages on April 12, 2012 … Continue reading

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Manufactured Crises And Change

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa President Obama has denounced brinkmanship in Washington. He does not think manufacturing crises to change the way of things is wise. He is correct because he knows that his presidency is an accidental … Continue reading

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