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REVEALED: 2 | Rare Historical Photos

Presidential visits to the Fed in the past have been endorsements of its independence—Trump's visit today? Not so much

Previous presidential visits to the Fed symbolized respect for its independence. Trump’s stop comes after repeated attacks on interest rate policy and a public clash over renovation costs, raising fresh concerns about political pressure on the central bank.

Fortune

Former Fed Chairs Ben Bernanke, Janet Yellen Warn Trump's Pressure On Powell Could Lead To 'Inevitably Higher Inflation And Economic Damage'

Former Federal Reserve Chairs Ben Bernanke and Janet Yellen have cautioned that President Donald Trump‘s ongoing pressure on the current Fed chief, Jerome Powell, could have dire long-term consequences for the U.S. economy.

Benzinga

'The Economy Was Roaring' — Suze Orman Breaks Down Why High Oil Prices Don't Always Mean A Market Crash

It's a common belief: when oil prices rise, the stock market takes a hit. Higher fuel costs mean more expensive shipping and manufacturing, which could shrink company profits — right?

Benzinga

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Elon Musk says he and DOGE found 14 'magic money computers'

"If it was a public company, it would be delisted immediately," Musk said of the government.

Fortune

10 Years Later, the Publisher of the World’s Weirdest Video Games Is Doubling Down

Ten years later, the co-founders of Serenity Forge sit down to talk about Doki Doki Literature Club, Roman Sands Re:Build, and others.

Inverse

Bank of England Under Fire From Leader of the Campaign for Fair Finance

Is the Bank of England up to the job of managing the UK's monetary policy? The leader of The Campaign for Fair Finance Dr Roger Gewolb offered me his views of the UK's central bank.

International Business Times UK

Fall in inflation doesn't mean we should cut interest rates, Bank of England's Pill says

Pill also said it would be better for the Bank of England to cut interest rates too late than too early

Evening Standard

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Do better: Bernanke gets strict with Bank of England over handling of inflation crisis

Report by former US Federal Reserve boss reveals faulty economic model and reluctance to admit mistakes

The Guardian - UK

Bank of England told to wise up by former Fed chief Bernanke

Bank’s forecasting has “serious...deficiencies”

Evening Standard

Bank of England forecasts undermined by out-of-date methods, report finds

Former US Fed boss Ben Bernanke criticises failure to admit mistakes and change course

The Guardian - UK

Powerful Lords committee damns Bank of England over inflation forecasts

Report says lack of ‘intellectual diversity’ at senior level and too wide a range of priorities led to errors and fall in public confidence

The Guardian - UK

Inflation: I've been analysing the Bank of England's forecasts over the past two years – here's how they got it wrong

The Bank of England (BoE) has been strongly criticised for failing to predict the surge in inflation. Had it done so, it could have reacted more quickly and prevented inflation from rising as high as 11% in autumn 2022.

The Conversation

Ben Bernanke to lead review into Bank of England forecasting errors

Former Fed chair appointed as Bank faces pressure to explain why economic forecasts have been so wide of mark

The Guardian - UK

Former US Federal Reserve chair to lead Bank of England review on economic forecasts

Ben Bernanke, the former chairman of the U.S. Federal Reserve, will lead a review of the Bank of England’s economic forecasting amid concern that inaccurate predictions about growth and inflation hampered the central bank’s efforts to combat Britain’s cost-of-living crisis

The Independent UK

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Evening Standard

Bank of England calls in Nobel Prize winner and ex-Fed boss Bernanke to find out why its predictions are wrong

As chair of the Federal Reserve during the finanial crisis and a Nobel Prize winner, Ben Bernanke is among the world’s most well-known economists

Zenger

How Buffett’s Late-Night Call To Paulson Saved The Economy

Buffett's idea to inject capital into banks instead of buying assets proved to be a success in the 2008 financial crisis.

Fortune

A veteran market watcher who saw the Fed creating a disaster in 2008 says 'distortions in the economy' today are still the Fed's fault

Jim Grant has been writing the “Interest Rate Observer” every week since 1983—and routinely making prescient predictions.

Bangkok Post

Pheu Thai's giveaway might just work

If one plans to read only one economic analysis article for this year, this is it.

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Tribune News Service

Volcker slayed inflation. Bernanke saved the banks. Can Powell do both?

History remembers Paul Volcker as the slayer of inflation, and Ben Bernanke as the crisis firefighter. Jerome Powell is in danger of having to play both roles at once — or, what may be worse, to choose between them.

The Conversation

Interest rate hikes: The Bank of Canada's 'resolute' fight against inflation could threaten its credibility

The Bank of Canada “resolutely” declared it will fight inflation by raising interest rates. To demonstrate its unwavering commitment to reaching the bank’s two per cent inflation target, today’s eighth consecutive interest rate hike brings the policy rate to 4.5 per cent. The bank expects to hold the rate for…

Fortune

Bitcoin or gold? Beware the ‘malignant tumor,’ says ‘Black Swan’ guru Nassim Nicholas Taleb

"Technology comes and goes, gold stays, at least physically. Once neglected for a brief period, Bitcoin would necessarily collapse.”

The Independent UK

Nobel laureate economist faces sex harassment investigation

A U_S_ university is investigating a Nobel laureate over sexual harassment allegations that his attorney dismissed as “professional rivalry.”

The Conversation

Fed wants inflation to get down to 2% – but why not target 3%? Or 0%?

What’s so special about the number 2? Quite a lot, if you’re a central banker – and that number is followed by a percent sign.

Fortune

Fed Chair Jerome Powell is on a high-stakes mission to tame inflation. Some insiders fear he’ll go too far. Others fear he won’t go far enough

The Federal Reserve chairman has sworn to fight runaway price increases, but Powell's critics fear he’ll cave in to political pressure before he wins the battle.

inkl Originals

The Weekly Wrap for Saturday, 15 October 2022

On Monday the Sveriges Riksbank prize (the Nobel Prize for Economics) was awarded to Ben Bernanke. We can trace the last century of American economics in his life's work. He's often described as the saviour of the last recession. But what about this one?

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