Opinions and Editorial

St. Louis Fed’s Bullard Discusses the First Phase of the U.S. Recovery and Beyond

In remarks at a conference in Shanghai, St. Louis Fed President James Bullard discussed the economic recovery underway in the U.S. and around the world, several key U.S. monetary policy issues, and the growing need for better analysis and understanding of asset price bubbles. Bullard presented his remarks, “The First Phase of the U.S. Recovery [...]



What if you got pink bats and a school hall for Christmas?

Economist Joel Waldfogel has for many years argued in favour less gift giving at Christmas. His latest book (just in time for Christmas!) is Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays. Waldfogel maintains that Christmas is an ‘orgy of wealth destruction,’ which he estimates at US$13 billion a year for the United States [...]



Greek tragedy for the world economy

Just when many thought the global financial crisis was over, it re-emerges with a bang. This week, Greece and Spain both had their credit ratings downgraded. Standard & Poor’s changed Spain’s outlook from ‘stable’ to ‘negative.’ For Greece, the news was even worse: Fitch revalued Greece’s creditworthiness to BBB+, just a few steps above junk [...]



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