Americans are rightly skeptical of bank nationalization. But we might need to proceed anyway.
The Obama administration's plan seems designed to keep its current footprint on the budget as small as possible.
There are two reforms that could help the Fed avoid inflation when the crisis passes.
The special status of the United States is unlikely to dissipate soon, but it is breeding growing international resentment.
Calls for international financial cooperation are picking up.
America has embarked on one of the boldest ventures in the history of monetary economics.
If the pattern of the past few decades holds true, emerging market economies may be facing a darkening future.
Henry Paulson has been granted broad authority to purchase troubled assets. Now it is time for him to buy, buy, buy.
Treasury Secretary Paulson has asked Congress for $700 billion without a clear description of how it would be disbursed or a mechanism for effective oversight.
The Bush administration is working with Congress to fill in the details of its plan to stabilize the financial markets.
Market participants will be speculating on the next bailout--where will it stop?
Lehman's shadow was not long enough to justify a bailout.
Capital inflow bonanzas are troublesome for advanced economies, in which they are associated with economic crises, and for emerging markets, in which they contribute to economic vulnerability.
Last week's big announcement by Wall Street investment giant Merrill Lynchcontains dark warnings about our economic future.
With Fannie and Freddie, is the government mistaking a "first-generation" crisis for a "second-generation" crisis?
The Federal Reserve, the Treasury, and the Securities and Exchange Commission have taken actions recently that could have profound impact on the nation's financial system.
Regulatory reforms aimed at preventing future housing bubbles should be crafted with caution.
Over the past year, Treasury secretary Henry Paulson and Federal Reserve chairman Ben Bernanke have moved from crisis to crisis, improvising as they go.
Only two months ago, mortgage aid was viewed as unlikely, but the odds now favor it becoming law.
Only two months ago, mortgage aid was viewed as unlikely, but the odds now favor it becoming law.
The problem of rising foodstuff pricesis worsened by a monetary policy in overdrive,exchange-rate chaos, unsound market interventions, and high oil prices.
Participants in the subprime mortgage market had a "Never-Never Land" attitude. Nowthey must clean up the mess.
What are the implications of the Fed's actions on Bear Stearns? Four AEI scholars look closely at the evidence of what went wrong and what is ahead.
The recent actions by the Federal Reserve to save Bear Stearns will leave a lasting imprint on the financial landscape.
Federal Reserve officials have effectively rewritten the rules on the role of a central bank in a market economy.
There are major policy initiatives to counter pressure to appreciate the exchange rate.
U.S. Monetary Policy Forum
February 29, 2008
Market participants do not appreciate the changes made by the Federal Reserve and the Federal Reserve does not like applying difficult lessons from textbooks.
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