Via Reuters:
The U.S. Second Circuit Court of Appeals on Friday ordered the Fed to release details of emergency lending programs it adopted starting in late 2007 to shore up the financial system and forestall a complete meltdown of global financial markets.
Bloomberg LP, the parent of Bloomberg News, and News Corp’s Fox News Network sought details [...]
Full text of the FOMC post meeting statement:
Information received since the Federal Open Market Committee met in January suggests that economic activity has continued to strengthen and that the labor market is stabilizing. Household spending is expanding at a moderate rate but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight [...]
George Selgin has a new paper out titled, Central Banks as Sources of Financial Instability. An exerpt:
The present financial crisis has set in bold relief the Jekyll and Hyde nature of contemporary central banks. It has made apparent both our utter dependence on such banks as instruments for assuring the continuous flow of credit in [...]
If you want to know why the UK economy is in such bad shape, reading this dribble from David G. Blanchflower, former member of the MPC, should be enlightening. He is quite concerned that governments will get a clue and cut spending. Since he reveres Keynes that is seen as tantamount to economic suicide:
March 10 [...]
