How much ammo is left in that fed funds gun?
Iraq Burn Rate > $12 billion per month?
That’s what’s implied by the graphic in today’s NYT article, based on CBO data.
Not a bailout
How shall we describe what happened this weekend with Bear Stearns? The first big casualty of the credit crisis, yes. Bailout, no.
March madness
No, I’m not talking about the credit markets– I’ll take those up in my next post, I promise. But first I need to discuss something really important, namely, the men’s college basketball tournament.
Limits to Expenditure Switching? Monetary Policy, Intervention, and Tradability
Currently, net exports are one of the few bright spots in the US economy. As Krugman points out, this is the one area where monetary policy is proving effective: by driving down the value of the dollar, expenditure switching is being induced.
President Bush Discusses Economy
THE PRESIDENT: Mr. Secretary, thank you very much for coming by today to talk about the economic situation — we’ll be meeting later on this afternoon with the President’s Task Force on Financial Markets.
TSLF
Last week the Fed announced yet another new measure to deal with the ongoing problems in credit markets in the form of a just-created
Term Securities Lending Facility, which we’re apparently invited to refer to affectionately as a TSLF.
“Harvard’s Feldstein Says U.S. Economy in Recession”
Looking even more like a recession
The Census Bureau announced yesterday that the seasonally adjusted nominal dollar value of retail and food services sales fell by 0.6% between January and February, the worst monthly performance since June’s -0.8% value.
“Bush Would Like a Stronger Dollar”
That’s the title of a post in today’s WSJ RealTime Economics:
President George W. Bush said in an interview today with Nightly Business Report that the dollar’s fall to record lows against the euro is not a good thing and he “absolutely” wants a stronger dollar. Excerpts: