Patience

Patience David R. Kotok Cumberland, January 28, 2015   Patience, noun. 1. the quality of being patient, as the bearing of provocation, annoyance, misfortune, or pain, without complaint, loss of temper, irritation, or the like. 2. an ability or willingness to suppress restlessness or annoyance when confronted with delay: “to have patience with a slow…Read More

How Unconventional Are Large-Scale Asset Purchases?

How Unconventional Are Large-Scale Asset Purchases? Carlo Rosa and Andrea Tambalotti Liberty Street Economics, March 03, 2014     The large-scale asset purchases (LSAPs) undertaken by the Fed starting in late November 2008 are widely considered to be a form of “unconventional” monetary policy. Although these interventions are certainly …

Professional Forecasters and the June 2013 FOMC Meeting

Preparing for Takeoff? Professional Forecasters and the June 2013 FOMC Meeting Richard Crump, Stefano Eusepi, and Emanuel Moench     Following the June 18-19 Federal Open Market Committee (FOMC) meeting different measures of short-term interest rates increased notably. In the chart below, we plot two such measures: the two-year Treasury yie…