All Commentary
Wednesday, August 10, 2011

Its Forecast Dim, Fed Vows to Keep Rates Near Zero

“[The Fed’s] hope is that the showman’s gesture will spur investment and risk-taking by convincing markets that the cost of borrowing will not rise for at least two years.” (New York Times)

Because what the economy needs is some good PR.

FEE Timely Classic

Money and Inflation: What’s Going On in the World?” by Gerald P. O’Driscoll, Jr.