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Discussions of the lessons learned from the financial crisis generally turn, in part, to the behavior of American households. Experts have been quick to point out that saving was unsustainably low...
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Last week, the House Financial Services Committee approved legislation that would bring the Home Affordable Modification Program (HAMP) to an end. HAMP aims to reduce the mortgage payments of...
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The U.S. Census Bureau reported yesterday housing starts – the number of privately owned new housing units for which construction began -- rose 4 percent in November, a seemingly cheery development...
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The economy “continued to improve, on balance” in October and November according to the Federal Reserve’s ‘beige book’ released today—a far more positive tone than previous reports this year. “...
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Last Friday’s labor market report was better than expected and provided comfort to some who feared the U.S. economy was heading into a double dip. The news also took some pressure off the Federal...
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The New York Times ran a piece earlier this week entitled “Housing Fades As a Means to Build Wealth, Analysts Say”. The article documents the fallacy in the once widely-held belief that ever-rising...
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Last week I discussed how monetary policy has softened the economic slump that resulted from the financial crisis and the underlying structural problems in the economy. Going forward, the key...
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Skeptics who question the effectiveness of monetary policy come in two types. Some argue that the Fed’s extensive efforts to bolster the economy over the past couple of years simply have not worked....
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Today’s employment report did not impress a lot of people, but it provided at least some reassurance that economic recovery continues. As expected, total U.S. payrolls fell in June because 225,000...
