Last month, in what will presumably be one of his last public speeches before he retires this June, New York Fed President William Dudley defended the Fed's current "floor" system of monetary control against the alternative of a corridor arrangement. Because Dudley's is one of the more…
The Federal Reserve Bank of New York has made its decision. On June 18 of this year John Williams, currently serving as the President of the Federal Reserve Bank of San Francisco, will succeed William Dudley as New York Fed President. This decision will have many ramifications…
In a note to my last post, I observed that Liberty Street Economics, the blog of Federal Reserve Bank of New York, promised a follow-up to its post concerning the advantages of the Fed's interest payments on required reserves. The follow up would address the benefits of…
Of course I didn't expect my recent post, listing "Ten Things Every Economist Should Know about the Gold Standard," to stop economists from repeating the same old misinformation. So I'm not surprised to find two of them, writing for a New York Fed blog, repeating recently some …