the economy

Fed’s QEII Offers More Risk Than Reward

As the Federal Reserve Federal Open Market Committee (FOMC) meets today, it is widely expected that the Fed will announce a new round of quantitative easing (QE).  The first round began in March 2009, as the Fed started large-scale purchases of Fannie and Freddie debt and MBS.  The next round is expected to focus on purchases of long-dated US Treasuries.

The Case for Auditing the Fed

Recently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. Rep. Ron Paul (R-TX) has introduced a bill calling for an audit of the Fed.

Wednesday Links

  • John McCain channels Dick Cheney: On March 4, McCain introduced a bill that  “would require that anyone anywhere in the world, including American citizens, suspected of involvement in terrorism – including ‘material support’ (otherwise undefined) – can be imprisoned by the military on the authority of the president as commander in chief.”

    John Berry: Angry about Federal Pay

    The head of the federal Office of Personnel Management, John Berry, has become unhinged by a few recent critiques of federal worker pay. Berry is an Obama appointee who apparently views his role as being a one-sided lobbyist for worker interests, rather than a public servant balancing the interests of taxpayers and federal agencies.

    A Campaign Finance Lesson

    The Washington Post offers an instructive campaign finance story this morning. The essence of the story: employees of banks and brokerage houses contributed more to candidate Barack Obama in 2008 than to his rival John McCain. A lot more in fact: such employees gave almost twice as much to the current president at they did to the Arizona senator.

    Son of the Stimulus

    Like the sequel to a horror film, the politicians in Washington just passed another stimulus proposal. Only this time, they’re calling it a “jobs bill” in hopes that a different name will yield a better result.

    But if past performance is any indicator of future results, this is bad news for taxpayers. By every possible measure, the first stimulus was a flop. But don’t take my word for it. Instead, look at what the White House said would happen.

    Subscribe to RSS - the economy