The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $ 612 billion in potential losses for banks in its most severe economic scenario,…
The Federal Open Market Committee’s perceptions are moving closer to reality, but members still believe they can achieve a miracle: stamping out high inflation without pushing the economy into a recession. Before its latest policy announcement on June 15, the policy-setting FOMC projected the federal funds rate would rise to 2% by yearend; Now it…
Read More “Opinion: The Fed’s new outlook shows that it’s still in a fantasy land” »
When economists are prominently associated with a political party and express opinions publicly, that affiliation should be a part of the story. Today a lot of economists are lining up on the recession, no-recession forecast. It shouldn’t be a surprise that their views are correlated with partisanship. We have seen experts in health care and…
