The Federal Reserve still would like to do more, but not right now.
Author Archives: James_Hamilton
More on those secret Federal Reserve loans to banks
The claim that the Federal Reserve extended trillions of dollars in secret loans to banks continues to be spread. Here at Econbrowser we will continue to try to correct some of the misunderstanding that is out there.
Advice for the academic job market
For new econ Ph.D.’s about to look for a job, the University of Wisconsin has provided a short video of what you might expect when you give your first talk presenting your research to the faculty.
$7.77 trillion in secret Federal Reserve loans to banks?
I have been looking into the claim recently made by any number of internet sites (for example, here’s one of the many hundreds, if you insist on a link) that the Federal Reserve made $7.77 trillion in secret loans to banks. The claim is outrageously inaccurate, as I explain below.
Current economic conditions
The U.S. economy experienced disappointingly weak growth in the third quarter. Data coming in during the last week suggest that the fourth quarter is starting out a little better. But it doesn’t look to me as much better as some accounts in the financial press might lead you to believe.
Central banks augment currency swap capabilities
The U.S. Federal Reserve, European Central Bank, and central banks of Canada, England, Japan, and Switzerland today announced a coordinated monetary action that could provide added assistance to interbank lending in the event of a further deterioration in global financial markets. Here I offer some thoughts on what the action signifies.
Worries continue
If you’re prone to worry about where the economy’s headed, last week’s developments weren’t very reassuring.
Taxing the 1%
Trying to prevent an increase in tax rates on the richest 1% of Americans looks to me like a losing strategy for the Republicans.
Implications of the recent rise in oil prices
The price of West Texas Intermediate has risen almost $10 a barrel since the start of September, and briefly bumped back above $100 a barrel this week. Here’s why I think that development may not be as worrisome for the U.S. economy as it might sound.
Links for 2011-11-15
Quick summaries of a few items of interest.