Felix Salmon

Gesture politics and the Fed mandate

By Felix Salmon
November 17, 2010

The proposal from Bob Corker and Mike Pence to abolish the dual mandate is pure gesture politics. It probably won’t even become a bill; if it does become a bill it won’t become law; and even if it does become law it won’t actually change what the Fed does.

The politics of QE2

By Felix Salmon
November 16, 2010

Allan Sloan has a good point today: by implementing QE2, Ben Bernanke has become a politician. It’s an important development: for reasons I don’t fully understand, the debate over QE2 has divided along party-political lines, with the Republicans lining up against it and the Democrats attacking them. Globally, too, as we saw in Seoul, the QE2 debate is conducted at summit level, and this time the dividing lines are even starker: it’s essentially the U.S. vs the world.

How QE works

By Felix Salmon
November 4, 2010

Gawker’s John Cook asks me a question about how the Fed’s quantitative easing is supposed to work: