FOMC – Page 4 – ricardian ambivalence

Cochrane nails fiscal consequence of SMP

Read John Cochrane’s post on the consequences of quasi-fiscal monetary policy for central bank independence. He nails the ECB’s dilemma:

According to the WSJ’s Hilsenrath, there is little appetite for cutting the Interest on Excess Reserves Rate. There’s no groundswell

The agenda and papers can be found here. You do not have to look hard to see what was going

The Journal’s Hilsenrath is the arbiter of what Bernanke means – and he says that Ben’s Jackson Hole keynote speech:

The WSJ’s Hilsenrath has published his Jackson hole preview this morning. He hints at more stimulus, noting that: Mr. Bernanke

The WSJ’s Hilsenrath says that the meaning of the August FOMC minutes is that the Fed is about to ease

Jon gives the etymology here. In summary, it means that the Fed is very close to acting. When used at

No one has ever made any money having faith in the ECB – and my skepticism was repaid again last

The reaction was mercifully modest given that i got it wrong – a fact i put down to markets being

In a surprise (to me at least) the Fed took no new measures last night. Rather, it signaled that easing

Remember the January FOMC meeting? Try – because I think that it hold the keys to the current FOMC outlook.

The FT’s Robin Harding tips that the Fed will move their low rate pledge out a year to 2015 this