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Fighting a Crisis of Confidence
Many people have been comparing the current economic crisis that we’re facing to that of the Great Depression. While we are seeing some similarities between the Depression and the economic crisis of today, they are largely a different beast. In fact I’d like to argue that while the Great Depression seemed to have been largely…
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Fed Cuts Rates to 1%
Many of you may have heard by now that the Federal Reserve cut their key fed-funds rate to 1%, bringing it in line with the lowest level that it’s ever been at. Interestingly enough the last time that the rate was at 1% was within this decade – from June of 2003 until June of…
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Finally! No New Rate Cut!
Ben Bernanke and the Fed decided today to leave their federal funds rate at its current level of 2%. They’re finally starting to worry about inflation and seem to think that there is much more upside risk (by inflation of course) than downside risk (recession and a slowing economy) at this point. I’m inclined to…