In a recent speech, Atlanta Fed President Dennis P. Lockhart took note of divisions within the Federal Open Market Committee (FOMC) as to whether further quantitative easing (QE) would be effective. When I cited Lockhart’s remarks in a post, a commenter expressed surprise. Yes, said the comment, it is possible to see how some people [...]
Global equity markets surged today on the back of supportive comments from ECB President Mario Draghi. Borrowing from FT Alphaville, who borrowed from Bloomberg: Draghi Says the Euro Is Irreversible Draghi says ECB will do whatever needed to preserve the euro – Draghi Says ECB Ready to Do ‘Whatever It Takes’ to Preserve Euro *DRAGHI: [...]
The two finance personality stories of the day were Timothy Geithner’s appearance before the House Financial Services Committee for a periodic Financial Stability Oversight Council Report, and former Citigroup CEO Sandy Weill’s unexpected conversion to the “smaller banking is better” faith. As Adam Levitin and Dave Dayen recount, Geithner reverted predictably to a combination of [...]
Politics and Economics:
Here is what we know about the global economy given the experiences of the past four years: There is a global insufficiency of demand relative to an immense oversupply of labor and productive capacity. The imbalances between high-wage/current-account-deficit/balance-sheet-indebted nations and lower-wage, surplus nations have produced a glut of savings in the latter, relative to the opportunities [...]
Yet despite what is obviously clear and present danger to the Eurozone project, and, more importantly than the project, but to the economy on which millions depend for their livelihood, there doesn’t seem to be any panic in official circles. No sense that policies need to be fundamentally reassessed. No sense that time is of the essence.
Edward Hugh
Don't Shoot the Messenger
Edward is a macro economist, who specializes in growth and productivity theory, demographic processes and their impact on macro performance, and the underlying dynamics of migration flows. Edward is based in Barcelona, and is currently engaged in research on aging, longevity, fertility and migration, and the impact of all of these on economic growth.
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