By Ellen Brown, Web of DebtJul 26, 2013
Rather than expanding the money supply, quantitative easing has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. This “failure” has prompted the Bank for International Settlements to urge the Fed to shirk its mandate to pursue full employment, though the sort of QE that could fulfill that mandate has not yet been tried. Dig deeper ( 6 Min. Read )
Tracy Bloom / TruthdigJul 26, 2013
A look at the day's political happenings, including the roll call vote for Justin Amash's failed NSA surveillance amendment and the Republican congressional idea that one GOP senator called "the dumbest" he ever heard. Dig deeper ( 3 Min. Read )
Robert Scheer / TruthdigJul 16, 2013
The guy who tops the list of those responsible for sabotaging the world’s economy is lobbying to be the next chairman of the Federal Reserve. Dig deeper ( 4 Min. Read )
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Peter Z. Scheer / TruthdigJun 20, 2013
The Federal Reserve will continue to buy bonds at a rate of $85 billion a month, but Chairman Ben Bernanke said better economic indicators mean the central bank could end its quantitative easing policy in 2014. Dig deeper ( 1 Min. Read )
Alexander Reed Kelly / TruthdigApr 7, 2013
Former Reagan-era budget director David Stockman is under attack by pundits everywhere for confirming that money for Wall Street and nothing for Main Street stands as an upper-class attack on the American public.Former Reagan-era budget director David Stockman is under attack by pundits everywhere for confirming that money for Wall Street and nothing for Main Street are class warfare at its worst. Dig deeper ( 3 Min. Read )
Robert Scheer / TruthdigApr 2, 2013
For all of the strident attacks on Stockman’s column, I have yet to read a serious critique of his most brazen claim. Dig deeper ( 3 Min. Read )
Tracy Bloom / TruthdigMar 21, 2013
If Bernanke's stance is any indication, Sen. Warren, who was just sworn in this January, is already having a positive impact on Washington. Dig deeper ( 2 Min. Read )
Tracy Bloom / TruthdigFeb 27, 2013
Sen. Elizabeth Warren, D-Mass., a two-time Truthdigger of the Week, demonstrated once again why big banks and Wall Street want to keep their distance from her when she took on Ben Bernanke during his semiannual appearance before the Senate Banking Committee on Tuesday. Dig deeper ( 1 Min. Read )
Robert Reich / TruthdigDec 14, 2012
For the first time, the Federal Reserve has explicitly linked interest rates to unemployment. Rates will remain near zero “at least as long” as unemployment remains above 6.5 percent and if inflation is projected to be no more than 2.5 percent. Dig deeper ( 3 Min. Read )
Staff / TruthdigSep 17, 2012
In his latest takedown of Mitt Romney, the New York Times columnist criticizes the Republican presidential nominee for his stance on the Fed's latest effort to jump-start the economy. Dig deeper ( 1 Min. Read )
Staff / TruthdigAug 5, 2012
In late 2008, Neil Barofsky was appointed the Treasury Department’s investigator of the bank bailouts. In the time since, he has suffered dismissal and deprecation from his colleagues and the corporations they're supposed to regulate.Since he was appointed to investigate the bank bailouts in 2008, Neil Barofsky has suffered dismissal and deprecation from his colleagues and the banks they're supposed to regulate. Dig deeper ( 3 Min. Read )
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