The attempt to make the CFPB unconstitutional has grave consequences.
Federal Reserve
Posted inAmerica and the World
IMF and World Bank Predict Tolerable Crises
Rich economies expect to be largely unaffected by debt distress and looming defaults in developing countries.
Posted inTAP
Bernanke’s Odd Nobel Prize
Today on TAP: As a close student of the Great Depression, he knew enough to prevent a repeat of it—but forgot the lessons about the need for tougher regulation of the financial system.
Posted inEconomic Policy
The Selling of Jerome Powell
Those who favored Powell’s renomination to the Federal Reserve insisted that he would never do precisely what he’s doing now.
Posted inTAP
Recovery Is Not Quite Dead
Today on TAP: This will only whet the Fed’s appetite for more punishment.
Posted inTAP
Stock Market Cheers Bad Economic News
Today on TAP: In hopes that maybe the deepening recession will change Fed policy. No such luck.
Posted inTAP
Why Credit Suisse Is Imperiled
Today on TAP: A crisis of confidence at Switzerland’s second-largest bank shows the dangers of Federal Reserve–driven chaos.
Posted inAmerica and the World
U.S. Declines to Blunt Pain as It Exports Inflation to Poor Countries
The Treasury is resisting calls to provide emergency liquidity for emerging markets facing a strong dollar.
Posted inMoney, Politics, and Power
Griftrix
The implosion of a $16.5 billion Citrix Systems debt deal reveals how private equity firms always manage to wriggle out of trouble.
Posted inTAP
A Global Recession Induced by Central Bankers
Today on TAP: Tight money spreads from Washington to Frankfurt to the Global South, needlessly increasing hardship.