All Commentary
Thursday, June 21, 2012

Fed to Continue Pushing Down Long-Term Interest Rates

“In a pattern that has become familiar, the Federal Reserve said on Wednesday that the economy was growing more slowly than it had forecast, in part because its efforts to hasten recovery had proved insufficient. With the economy stumbling into the summer months after the false promise of a relatively strong winter, the Fed announced a modest expansion of its efforts to stimulate growth. . . . The central bank pledged to buy $267 billion in long-term Treasury securities over the next six months as part of a continuing campaign to reduce borrowing costs.” (New York Times)

Hair of the dog.

FEE Timely Classic
“Interest Rates and the Business Cycle” by Glen Tenney