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NY Fed’s Dudley: Expanded Monetary Base was to Transfer Long-Term Risk from Private Sector


UPDATED 22 May 09:15 The New York Federal Reserve President made some suprising comments at a talk at the Japan Society.  Among other things, he revealed that the Fed balance sheet expanded as a by-product of transferring private long-term risk

Posted in Japan, Monetary Policy, New York Fed Tagged with: , , , ,

Yes, Chronically Low Interest Rates Can Harm Recovery

Federal Reserveedited

             Fed Chairman Ben Bernanke’s testimony Tuesday before the Senate Finance Committee, where he reiterated his view that the Fed needed to continue record-low interest rates, reminded me why doctors are required to swear the

Posted in Economics, Federal Reserve, Interest Rates, Interest Rates, Our Blog Tagged with: , , , , ,