Wednesday, October 8, 2008

Reads of the day

A Q&A on the Fed's last actions... of which was to put a floor on the effective funds rate by paying interest on excess reserves. Rebecca Wilder argues that the low effective rates hint at a Fed easing at the next meeting, and given that the floor is at 1.25%, her 75bp easing argument cannot be dismissed.

On TARP and Tbills (a natural follow-up to my last blog entry)

Menzie Chinn summarizes Chapter 4 of the IMF's WEO

James Hamilton and Menzie Chinn of Econbrowser analyze the latest US payrolls data...

...and Alan B. Krueger goes over a recent paper that shows why relying just on payrolls data may not depict an accurate US employment picture.

The latest IMF Global Financial Stability Report

O-rings help understand economics again (see here for the first time)

How modern finance used to work in a picture

More from Greg Mankiw on rising TIPS yields; I think I am buying the deflation argument

A summary table from the New York Fed if you are overwhelmed like me on all the different types of Fed lending to financial institutions.

A guide for novices to the money meltdown- nothing new if you've following what is going on, but a must-read if you just woke up from a coma and want to get up to date fast

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