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.
Author Archives: James_Hamilton
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.
Greece, Italy, and financial stability
The drama began in Greece. Where is it going to end?
Decisions, decisions
The U.S. State Department received the application from TransCanada for permission to build the Keystone XL Pipeline Extension over 3 years ago. Today, the White House made a firm decision not to decide just yet, with the State Department indicating that an actual decision is at least another year away.
Nice to see the President is focused like a laser on how to get Americans back to work.
Shovel ready
Some infrastructure spending is more stimulative than others.
Autos, housing, and the business cycle
Here I offer some observations on what’s been holding back the recovery.