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Wednesday, April 27, 2011

Fed Credibility on Line with QE2

“The end is in sight for the Federal Reserve’s much-debated program of buying $600 billion in Treasury bonds to prop up the faltering economy, with the central bank’s policymakers likely to announce Wednesday that it will expire at the end of June. The big question now: Did it work?… Because the payoff from the Fed’s actions has been more about what didn’t happen than what did, and the economy is still quite weak, the action put the credibility of the Fed at risk.” (Washington Post)

Why is our fate in the hands of a few bureaucrats?

FEE Timely Classic
“Quantitative Uneasiness” by Ivan Pongracic Jr.