federal reserve

Thomas Palley — More Jobs, Still Weak Wage Growth: The Federal Reserve Must Wait

11 March 2015

Thomas Palley has a new op-ed titled More Jobs, Still Weak Wage Growth: The Federal Reserve Must Wait on the AFL-CIO page (here) and on his own web page (here). … The [February employment] report is another in a string of strong employment reports, but it also contains depressingly familiar news about weak wage growth and […]


Thomas Palley — The U.S. Federal Reserve And Shared Prosperity

25 February 2015

Thomas Palley has a new Op-Ed for The Globalist titled The U.S. Federal Reserve and Shared Prosperity in which he argues against ““pre-emptive inflation tightening” that sacrifices wage growth and full employment versus “testing the waters” that gives wage growth and full employment a chance.” He asks the Fed to abandon its 2% inflation target with many compelling […]


Jackson Hole Symposium Starts With The Money Multiplier

23 August 2013

The Jackson Hole Symposium organized by the Federal Reserve Bank of Kansas City has been getting a lot of attention these days. The main reason is that Ben Bernanke announced his intention of doing LSAP (QE) in this symposium a few years back. One would have expected some improvement by economists on monetary matters but […]


Some Aspects Of Central Bank Behaviour

24 October 2012

There was a discussion last week on a social network site on Basil Moore’s book Horizontalists And Verticalists. Someone mentioned he never knew anyone who owned a copy of the book! Lucky me. I was browsing through my copy and came across this – which I thought I should quote on central bank “defensive behaviour”. Actually, […]


The (Almost) Irrelevance Of Reserve Requirements

29 January 2012

Earlier this week, the Reserve Bank of India reduced banks’ reserve requirements by 50bps. It’s called Cash Reserve Ratio and the RBI reduced it from 6.00% to 5.50% with effect from the following week. The Reserve Bank of India is one of the most backward central bank in liquidity management and sometimes panics and changes […]


Alfred Eichner And Federal Reserve Operating Procedures

1 January 2012

Alfred Eichner was a Post-Keynesian economist known for his text Macrodynamics of Advanced Market Economies published 3 years after his death in 1988. He died at the age of 50 in an accident and at the time he was preparing to include an analysis of open economy macroeconomics in his story of how economies work. […]


The Globalization Paradox

27 August 2011

I am reading Dani Rodrik’s The Globalization Paradox and borrowed the title for this post. I am curious as to what Barry Eichengreen has to say in his talk at the Federal Reserve’s annual forum at Jackson Hole, Wyoming. He is the author of the book Exorbitant Privilege: The Rise And Fall Of The Dollar And The […]