The Financial Times, as is often the case, carried a story on hedge fund risks that was not covered in the Wall Street Journal or the New York Times. Titled “Regulators concerned at hedge fund collateral,” it discusses how an international group of financial regulators is working with some of the biggest Wall Street firms […]
Read more...In a January 17 speech, Federal Reserve governor Frederic Mishkin reiterated the Fed’s view, that its job does not extend to intervening in possible bubbles. By contrast, Ian MacFarlane, who recently retired as head of Australia’s Reserve Bank, and successfully intervened in that country’s housing bubble, feels that the current policy framework does not recognize […]
Read more...The Financial Times has had three stories on loose credit conditions in three press days: one on Friday the 12th, two on Monday the 15th, all worried in tone. Apologies for getting this to you on a delayed basis, but the FT website was not cooperating from Friday evening through Monday (colleagues had the same […]
Read more...Greg Mankiw, Harvard economics professor, worries about the fact that Chairman of the House Banking Committee, Barney Frank, has decided to add a day to the semi-annual Federal Reserve testimony to give economists and labor experts a chance to have their say. Having other witnesses is a new step, and Mankiw sees it as a […]
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