All Commentary
Wednesday, August 24, 2011

Markets Will Look for Hints in Bernanke’s Words

“When the Federal Reserve chairman speaks at an annual gathering in Jackson Hole, Wyo., this Friday, markets will be searching for something, anything, that indicates whether more stimulus is on the way.

It was just a year ago, after all, that the economy was in almost exactly the same position: pitifully slow job and output growth, fears about another financial shock from Europe’s debt crisis, warnings of a double-dip recession.” (New York Times)

Constant intervention and regime uncertainty have reduced the economy to this.

FEE Timely Classic

Transforming America: The Bush-Obama Stimulus Programs” by Randall Holcombe