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Category Archives: Financial System

Economic Report of the President 2015

“This morning, the Council of Economic Advisers released the 69th-annual Economic Report of the President, which reviews the United States’ accelerating recovery and ways to further support middle-class families as the recovery continues. The economy is recovering from the Great Recession at an increasing pace, growing at an annual rate of 2.8 percent over the pastContinue Reading

Federal Reserve Archival System for Economic Research Adds Thousands of New Digitized Items

Via Katrina Stierholz, Federal Reserve Bank of St. Louis – “additions to FRASER since its relaunch in October 2014 –  FRASER – the Federal Reserve Archival System for Economic Research – has added thousands of new items to its free digital library of economics and banking history and offers a wealth of primary and secondaryContinue Reading

Minutes of the Federal Open Market Committee, January 27-28, 2015

[snipped from the full text] “Staff Review of the Financial Situation – Over the intermeeting period, amid trading that was volatile at times, longer-term sovereign yields in the United States and other advanced economies declined. These moves were attributed in part to a deterioration in market sentiment associated with downward pressure on inflation, increased concernContinue Reading

The (Questionable) Legality of High-Speed “Pinging” and “Front Running” in the Futures Markets

The (Questionable) Legality of High-Speed “Pinging” and “Front Running” in the Futures Markets, by Gregory Scopino. Connecticut Law Review Volume 47 – Issue. February 2015. “Institutional investors complain that high-frequency trading (HFT) firms engage in high-speed “pinging” and “front running” of their orders for trades. By sending out lightning fast “ping” orders for trades thatContinue Reading

CBO’s Economic Forecasting Record: 2015 Update

February 12, 2015 – “For nearly four decades, the Congressional Budget Office has prepared economic forecasts that underlie the agency’s projections for the federal budget and cost estimates for proposed federal legislation. In particular, forecasts of output, inflation, interest rates, and income play a significant role in the agency’s budgetary analysis; for example, projections ofContinue Reading

Household Debt Continues Upward Climb While Student Loan Delinquencies Worse

NY Fed news release: “In its Q4 2014 Household Debt and Credit Report, the Federal Reserve Bank of New York announced that outstanding household debt increased $117 billion from the third quarter. The one percent increase puts total household indebtedness at $11.83 trillion as of December 31, 2014. Total debt has gone up $326 billionContinue Reading

Expenditure Rules: Effective Tools for Sound Fiscal Policy?

IMF Working Paper WP/15/29  – Till Cordes; Tidiane Kinda; Priscilla S. Muthoora; Anke Weber. February 12, 2015. “This paper provides new evidence on the effectiveness of expenditure rules. The analysis is based on a unique dataset covering all countries with national and supranational fiscal rules, including 33 expenditure rules, between 1985 and 2013. It contributesContinue Reading

The Deserving Poor, the Family, and the U.S. Welfare System

“The Eleventh Annual W. J. Usery Distinguished Lecture on the American Workplace, was held on Wednesday, October 8, 2014, at the Andrew Young School of Policy Studies. Robert Moffitt, the Krieger-Eisenhower Professor of Economics, Johns Hopkins University [presented] “The Deserving Poor, the Family, and the U.S. Welfare System.” Professor Moffitt’s research focuses on applied microeconometricsContinue Reading

Why Institutions Matter? The Recent Experience of the United States and the European Union

Shachmurove, Yochanan and Kowalski, Tadeusz, Why Institutions Matter? The Recent Experience of the United States and the European Union (February 11, 2015). Available for download at SSRN: http://ssrn.com/abstract=2563820 “This paper assesses the reactions of the United States and the twelve economies of the European Monetary Union (EMU) to the financial crisis of 2008-2009. The rapidlyContinue Reading

Monetary Policy and the Federal Reserve: Current Policy and Conditions

Monetary Policy and the Federal Reserve: Current Policy and Conditions. Marc Labonte, Specialist in Macroeconomic Policy. February 9, 2015. “The Federal Reserve (the Fed) defines monetary policy as its actions to influence the availability and cost of money and credit. Because the expectations of market participants play an important role in determining prices and economicContinue Reading

Economic and Fiscal Consequences of Improving U.S. Educational Outcomes

The Washington Center for Equitable Growth – report by Robert Lynch: “This study addresses a key challenge confronting the United States—how to promote both widely shared and faster economic growth. It does so by analyzing and describing the effects of raising educational achievement, especially for those not at the top of the economic ladder.The results ofContinue Reading

New GAO Reports – African Growth, Environmental Satellites, Financial Audit, Small Business Contracting

African Growth and Opportunity Act: Eligibility Process and Economic Development in Sub-Saharan Africa, GAO-15-300: Published: Feb 12, 2015. Publicly Released: Feb 12, 2015. Environmental Satellites: Improvements Needed in NOAA’s Mitigation Strategies as It Prepares for Potential Satellite Coverage Gaps, GAO-15-386T: Published: Feb 12, 2015. Publicly Released: Feb 12, 2015. Financial Audit: Federal Deposit Insurance CorporationContinue Reading