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Yellen Confirmed by Senate; Set to Become Federal Reserve Chair

Posted on January 9, 2014

Janet Yellen

The U.S. Senate confirmed Janet Yellen, a professor emerita at UC Berkeley’s Haas School of Business, as the first female head of the Federal Reserve on Monday. Yellen, current vice chair of the Fed’s Board of Governors, will replace Ben Bernanke when she takes office on Feb. 1. She was nominated to the position by […]

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Inflation: The Economics of Addiction

Written by Gary North on January 4, 2014

Inflation: of all the dangers to the free market economy, historically and theoretically, the greatest is this one, yet it is one of those subjects that remain wrapped in mystery for the average citizen. This elusive concept must be understood if we are to return to the free market, for without a thorough comprehension of […]

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FED Taper: $900 Billion a Year . . . Guaranteed

Written by Gary North on December 19, 2013

The Federal Reserve will continue to expand the monetary base by $900 billion a year. This is down from $1 trillion a year, or a reduction of 12%. The announcement triggered an increase in the Dow Jones Industrial Average of 293 points. The FOMC released a statement, as it always does. This statement removed all […]

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Federal Reserve Goes on the Defensive

Posted on December 17, 2013

In April 2011, two years shy of its 100th birthday, the Fed held its first press conference in history in response to mounting criticism of its lack of transparency. In other words, the Fed felt that it had to walk out into the sunshine and defend itself. And,no doubt as part of the same public […]

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Ron Paul on the FED’s 100th Birthday

Posted on December 16, 2013

Next week, the Federal Reserve System will celebrate the 100th anniversary of its founding. Resulting from secret negotiations between bankers and politicians at Jekyll Island, the Fed’s creation established a banking cartel and a board of government overseers that has grown ever stronger through the years. One would think this anniversary would elicit some sort […]

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No More Free Checking Accounts, Bankers Threaten

Written by Gary North on November 25, 2013

The Financial Times, a British publication, has run an article saying that two unnamed officials at two unnamed large American banks say that any move by the Federal Reserve System to eliminate the paltry interest rate of no higher than 0.25% on excess reserves will lead banks to start charging for free checking accounts. Excess […]

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Median CPI Up 0.1% in October

Written by Gary North on November 21, 2013

The CPI, or consumer price index, fell 0.1% in October. But the Median CPI is a more reliable guide. It fluctuates less than the CPI. It provides a better picture of consumer price changes. What matters is the trend. The numbers are disputed by a handful of analysts, who say that prices are rising. But […]

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Politics: A Time to Lose, and a Time to Win

Written by Gary North on November 6, 2013

What if Al Smith had won the presidency in 1928? The economic boom that was produced by the Federal Reserve’s expansionist policies in 1925-29 would have ended on schedule. He would have been blamed for the Great Depression in 1930-32. He would have run again in 1932. He would have lost. Franklin Roosevelt would not […]

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