Historical Echoes: What’s in a Name? The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
The official name for the economics prize is the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Today’s release of the 2012Q2 Quarterly Report on Household Debt and Credit indicates a continuation of the downward trend in household debt, which followed a long period of substantial increases.
The United States has slid into eight recessions in the last fifty years. Each time, the Federal Reserve sought to revive economic activity by reducing interest rates.
Banks increasingly move money around the world.
The European Central Bank recently lowered from 0.25 percent to zero the interest rate it pays on funds that Eurozone banks hold on deposit with it.
As the FOMC continues to shape its communication strategy, perhaps it should consider opera. On August 6, 1979, Paul A. Volcker became chairman of the Federal Reserve Board, and shortly afterward a very short opera was broadcast attempting to explain to the general public the pros and cons of raising interest rates. The opera (11 min.) was masterminded by Robert Krulwich, a creative broadcast journalist who’s still going strong using radio to explain complex scientific and economic concepts to the layman. Although the broadcast is very comical, it isn’t comic opera!
During the height of the 2007-09 financial crisis, intermediation activities across the financial sector collapsed.
This is the first post in a series that details the steps taken by the Fed in its role as lender of last resort during the 2007-09 financial crisis.
O. Henry (William Sydney Porter), one of America’s most beloved short story writers, is famous for ending his stories with a twist.
In our recent post on the state and local sector, we argued that structural problems in state and local budgets were exacerbated by the recession and would likely restrain the sector’s growth for years to come.