Did Janet Yellen,
(1) see any problem in the housing bubble,
(2) anticipate the bursting of the housing bubble; and,
(3) anticipate its implications for the U.S. economy?
The answers are (1) no, (2) no, and (3) no.
The proposed nomination of Lawrence Summers to head the Federal Reserve will determine if economic competence will trump leftist politics.
This is rich. Federal Reserve Chairman Ben Bernanke this week announced Operation Twist, a program to pour hundreds of billions of dollars of Fed money into long-term debt to drive…
The construction industry on Wednesday received a double-whammy of bad news. The government reported that seasonally adjusted housing starts fell to nearly the lowest level on record in February. Meanwhile,…