Economic Commentary Archives

Bernanke Says Recession Is Almost Over

Ben Bernanke, Federal Reserve Chairman, expressed confidence that the worst recession since the 1930s is almost over. In a speech before a Brookings...

Steven Yates September 15, 2009

Cash for Clunkers

William P. Hoar September 1, 2009

Item: The National Public Radio news blog, “The Two-Way,” reported on August 7: “The relatively good news that the unemployment rate dropped slightly...

Audit Citigroup? What About the Fed?

William F. Jasper August 31, 2009

News stories on August 19 reported that Neil Barofsky, Special Inspector General (SIG) of the U.S. treasury Department’s $700 billion Troubled Asset Relief...

Auditing the Fed Moves Ahead

August 31, 2009

At a town hall meeting held in his Massachusetts district, House Financial Services Committee Chairman Barney Frank provided a surprising response to a...

Obama’s 10-year Deficit at $9 Trillion

Steven J. DuBord August 24, 2009

The Obama administration is expected to release a report soon estimating that the 10-year budget deficit for the United States will be roughly...

U.S. To Become “Banana Republic,” Says Senator

Steven Yates August 5, 2009

According to Senator Judd Gregg (R-N.H.), the United States is on its way to becoming a “banana republic” within 10 years. ...

Stimulus Scam Redux?

William P. Hoar August 4, 2009

Item: President Barack Obama, reported the Bloomberg news agency for July 11, “said his $787 billion stimulus bill ‘has worked as intended’ as...

U.S. Incomes Fall 1.3 % in June

Steven Yates August 4, 2009

According to the latest figures from the U.S. Department of Commerce, Americans’ personal incomes dropped 1.3 percent in June, the biggest drop in...

Bailed-out Bankers Bag Big Bonuses

Jack Kenny July 31, 2009

Nine financial firms that received a total of $32.6 billion through the government's Troubled Asset Relief Program (TARP) paid their top traders and...

Dollar Values Plunge Worldwide

Thomas R. Eddlem July 29, 2009

Just call it irony. The same day the value of the dollar plunged to a current-year low as measured against six other major...

Bernanke’s Public Relations Offensive

Thomas R. Eddlem July 28, 2009

Federal Reserve Chairman Ben Bernanke must know he’s in trouble. This week he completed a “town hall”-style meeting for PBS television to promote...

CBO to Congress: Spending & Debt “Unsustainable”

Thomas R. Eddlem July 17, 2009

Congressional Budget Office Director Douglas W. Elmendorf gave a fiscal wake-up call to Senate Budget Committee members in testimony on July 16, noting...

Fed Backers Scared by Ron Paul’s Audit Bill

July 16, 2009

Congressman Ron Paul’s H.R. 1207, calling for an audit of the Federal Reserve, has attracted 270 cosponsors in less than five months. The...

Gregg Knocks Obama Deficits

Jack Kenny July 15, 2009

Sen. Judd Gregg, R-NH, knocked the spending plans of the Obama administration Tuesday, one day after the Treasury Department announced the deficit reached...