Hunter Lewis

Latest News

Bloomberg Economist Likes Fed's Rock Bottom Interest Rates

In a recent Bloomberg Views piece, mainstream economist Noah Smith accused his critics of having “brain worms” and even “anti-semitic overtones.” He then mischaracterized what these critics, usually referred to as Austrian economists, were saying so that he could ridicule it. Jul 16, 2014 10:33 AM PT

Negative Interest on Private Bank Accounts Coming to the US?

We just reported about how the European Central Bank has instituted negative interest rates for member banks. This could soon spread to the US and also to consumer accounts. If so, you would find money taken out of your bank account each quarter unless you spend it. Jun 7, 2014 10:37 AM PT

European Central Bank Adopts Negative Interest Rates

Look for this to spread. For now the negative interest rate of -0.1% will only apply to bank reserves held at the central bank. The stated objective is to persuade the banks to reduce their reserves by lending more. Jun 6, 2014 7:17 AM PT

Rand Paul Threatens to Hold Up Fed Board Nominees

Senator Rand Paul (R-KY) has sent a letter to Senate Majority Leader Harry Reid (D-NV) threatening to put a hold on three Federal Reserve board nominees if his proposed Federal Reserve Transparency Act is not brought to a vote with the nominations. May 14, 2014 8:19 AM PT

U.S. Still in a Depression

Does an official 6.3% unemployment rate mean that the economy has finally recovered? No. Whether you call it the Great Recession or the depression it really is, the recovery that supposedly started in June 2009 has not been much of a recovery. May 6, 2014 10:22 AM PT

7 Crazy Ideas Janet Yellen Did Not Mention, but Waiting in the Wings

In her speech at the New York Economic Club on Wednesday, Janet Yellen said it is “quite plausible” the economy will reach full employment in a couple years with just the right amount of inflation, which to her mind means two percent a year. Apr 17, 2014 1:31 PM PT

Inside The Fed--What Janet Yellen Won't Tell You

What is Janet Yellen, new Fed chairman, really worried about? Is it that reported unemployment will stay high, that the economic recovery will never get off the ground, that we will fall back into recession, or that consumer prices will fall, thereby further endangering the huge debts that already zombify the economy? Apr 14, 2014 11:50 AM PT

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