Archive for April 30th, 2008

Central Bank Watch

Fed Pausing

April 30, 2008

In three respects, the FOMC statement confirms a pause in the rapid-fire reduction of the Federal funds rate to 2.0% from 5.25% as recently as September 17th. Stories in the business press had suggested this would be the case. For one thing, the statement declares for the first time that a “substantial easing” of policy […] More

Larry's Blog

What Recession?

April 30, 2008

Economists have earned a reputation for calling U.S. recessions only after a downturn is well under way and, oftentimes, close to its end. Determined not to reinforce that perception, private and public-sector analysts began using the R-word frequently at the first hint of significant trouble. Even foreign officials have jumped on the recession bandwagon. The […] More