tag:blogger.com,1999:blog-7590806168352381335.post2661962904397625548..comments2023-05-22T07:06:20.045-04:00Comments on Funny Economist - Randall Parker's Completely Serious Macroeconomics Blog: Full Text of FOMC Statement. Monetary Policy is not the problem at this moment in time.Randall Parkerhttp://www.blogger.com/profile/10027493610187640456noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7590806168352381335.post-64999849269820544942011-09-22T13:30:00.914-04:002011-09-22T13:30:00.914-04:00Well I have been very clear regarding the threat o...Well I have been very clear regarding the threat of deflation and what the Fed should do there. And operation Twist or QEIII or QE XXII, at this point in time, if the only effect is to lower the long-term rate by 10 basis points, then on the margin what good will that do? Not much in my book. Our problems now are not monetary in nature. Oh and throw Jesus in there too as "my boy."Randall Parkerhttps://www.blogger.com/profile/10027493610187640456noreply@blogger.comtag:blogger.com,1999:blog-7590806168352381335.post-38798158801222883472011-09-22T12:56:19.545-04:002011-09-22T12:56:19.545-04:00Out of ammo? Not according to S Sumner. Hey Doc, e...Out of ammo? Not according to S Sumner. Hey Doc, even ya' boy JD Hamilton recently asked for an explicit price level growth rate and another round of LSAP. The Fed seems to have given up on the American peeps. You can bet he has a seat waiting for them in the Princeton Econ dept. after his tenure as chairman - while the rest of the country is standing in the unemployment line.Tiger'sWoodnoreply@blogger.comtag:blogger.com,1999:blog-7590806168352381335.post-14685761852614246772011-09-22T11:32:26.859-04:002011-09-22T11:32:26.859-04:00If he said that he misled people. I think he and F...If he said that he misled people. I think he and Fisher and Plosser are of the opinion that the Fed has shot its bullets. I agree.Randall Parkerhttps://www.blogger.com/profile/10027493610187640456noreply@blogger.comtag:blogger.com,1999:blog-7590806168352381335.post-85860218435614660402011-09-22T11:26:09.464-04:002011-09-22T11:26:09.464-04:00This as in what? As in 9.1% unemployment? This doe...This as in what? As in 9.1% unemployment? This doesn't have to be France, does it? <br /><br />If by this you mean operation twist part deux, it wont be as good as it gets b/c the markets and public wont allow it to be all after its (lack of) effects are shown. Bernanke needs to go read some of his own writings regarding Japan. I can not wait until is memoirs are published.<br /><br />BTW, didn't I read that Kocherlakota was done dissenting after the initial "mid-2013" statement?WillWorkForQE3noreply@blogger.comtag:blogger.com,1999:blog-7590806168352381335.post-73774412172122305412011-09-22T11:15:27.015-04:002011-09-22T11:15:27.015-04:00What if this is as good as it gets?What if this is as good as it gets?Randall Parkerhttps://www.blogger.com/profile/10027493610187640456noreply@blogger.comtag:blogger.com,1999:blog-7590806168352381335.post-14400567287201980882011-09-22T09:26:32.252-04:002011-09-22T09:26:32.252-04:00It is quite the disappointment that what will undo...It is quite the disappointment that what will undoubtedly be three straight years of an unemployment rate over 7% isn't considered unusual or exigent.........WillWorkForQE3noreply@blogger.com