Fed Tapering — Shades of 1937?

In the press conference immediately following the December 17-18, 2013 FOMC meeting, Fed Chairman Bernanke indicated that it was the FOMC’s current plan to have terminated Federal Reserve outright securities purchases by the end of 2014, commencing with a $10 billion reduction in securities purchases immediately after the December 2013 FOMC

Why the Fed Doesn’t Need Government Statistics

Official Government Statistics? The Fed Don’t Need No Stinkin’ Government Statistics! by Paul Kasriel, The Econtrarian One of the “casualties” of the federal government shutdown is the suspension of official federal government statistics measuring the performance of the U.S. economy. Numerous economists have commented how this lack of economic information will make the Federal Reserve’s …

Why the Fed No Taper Decision is Actually a Tightening

Even with No Fed Taper, Look for Slower Growth in Nominal Transactions by Paul Kasriel, The Econtrarian The Fed decided on September 18 to maintain its rate of securities purchases at $85 billion per month rather than reducing or “tapering” the amount of its monthly securities purchases as was, for reasons not entirely clear to …

Does the Recent Decline in the Unemployment Rate Reflect An Improving Labor Market?

by Paul Kasriel, The Econtrarian Two weeks ago the BLS reported that the national unemployment rate declined by two-tenths of a percentage point in July vs. June. On the surface, that would seem to be good news for the labor market, right? Not according to the knee-jerk analysis by a lot of jerks on cable …

The 2013 Economic Outlook – Bright Sunshine for the U.S., Periods of Cloud Abroad

by Paul Kasriel, The Econtrarian Author’s Warning: Do not attempt reading the entirety of this commentary without the aid of your stimulant of choice. I apologize for the length of the commentary, but believed it necessary in order to inform new readers of my basic approach to macroeconomics. In future shorter (I promise) commentaries, there …