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Dr. Peter Morici: The Federal Reserve needs more than a new Communications Strategy
Ben Bernanke has indicated that the Federal Reserve will redouble its efforts to communicate clearly about the outlook for the economy and monetary policy.
Jan 15, 2008, 08:20
The Irish Mind and the Knowledge Economy: Should we bank everything on fuzzy leprechaunic political dreams?
The Irish Mind. An abundant supply of that rare commodity you'll need to bring your business to peak performance, according to IDA Ireland. However, there is a danger that €8.2 billion of Exchequer funds on the Knowledge Economy, will be spent on fuzzy leprechaunic political dreams.
Jan 13, 2008, 15:34
Dr. Peter Morici: Why the US Trade Deficit matters?
On Friday, the US Commerce Department will release data for the November 2007 trade deficit. The consensus estimate is $60 billion, up from $57.8 billion in October. It may be a bit larger or smaller, but either way, it comes to about 5 percent of GDP, That is an enormous drag on national income and growth, and has corrosive consequences for our children’s future.
Jan 9, 2008, 09:34
Dr. Peter Morici: US Recession Watch, the Jobs Report and Fed Policy
The holiday season did not bring a lot of good economic news. Weak retail sales, the flagging fortunes of automakers and declining industrial production have pundits guessing whether the US economy has entered a recession and, if so, how long will it last.
Jan 4, 2008, 03:52
Dr. Peter Morici: Business as Usual: the Energy Bill, Subprime Mess, and Recession Watch
The stock market remains unsettled, as the nation’s economic problems grow. Washington from the White House to Capitol Hill to the Federal Reserve gives us lots of bustle but no truly comforting action.
Dec 21, 2007, 01:50
Dr. Peter Morici: China’s Dragon does not flinch and Bernanke’s Toothless Dog
This week, the big news continues to center around the dollar and the credit crisis. Secretary Henry Paulson returns from China empty handed on the dollar-yuan exchange rate, and Federal Reserve Chairman Ben Bernanke is stunned when an interest rate cut sinks the stock market.
Dec 14, 2007, 06:25
Cabinet decision to defer Irish ministerial pay hikes until 2009 seen as empty gesture after weeks of controversy
The Cabinet's decision on Tuesday to defer a pay award for top Irish politicians for a year has been greeted as an empty gesture after weeks of controversy which saw ministers getting a special pay hike of 14-15%, as well as all retirees; the Dublin City Manager getting a 36% hike and the the Secretary-General of the Taoiseach's Department who has got one of the biggest hikes - 25%.
Dec 12, 2007, 07:29
Dr. Peter Morici: President Bush's Mortgage Program and Rumblings from Europe about the Dollar
This week, the big news may be the shoes that are yet to drop: President Bush's program to help distressed homeowners and halt the free fall in housing and subprime securities markets, and the continued carping from the Europeans about the decline in the dollar.
Dec 7, 2007, 04:24
Dr. Peter Morici: Avoiding a US Recession
Recessions are not inevitable adjustments built into the clockwork of a modern economy.
Nov 28, 2007, 05:31
Christmas Fear and a proposed German Minimum Wage - Prof Hans-Werner Sinn
As Christmas approaches pressure mounts to resolve the minimum wage issue in Germany. The conservatives weaken and agree to a comprehensive minimum wage of €7.50 an hour. This scenario is my Christmas fear.
Nov 27, 2007, 07:00
Nine months after ISEQ record highs, Irish shares likely to underperform other markets for sometime
February 21, 2007, nine months ago today, the ISEQ index rose to an-all time high of 10,041 and the Financial sub-index rose to 18,098.
Nov 21, 2007, 10:44
Dr. Peter Morici: An Emergency Interest Rate Cut? and The Week Ahead: Forecasts for the Weeks of November 26 and December 3 (preliminary)
Tuesday, stock markets were lifted on speculation that Ben Bernanke will call an emergency meeting at the Federal Reserve to further cut interest rates. This would be a remarkable turnaround for Chairman Bernanke.
Nov 20, 2007, 15:48
Germany: How the Upswing Came About - Six Hypotheses - - Prof. Hans-Werner Sinn
In the recent forecast of the economic research institutes, the German upswing will continue next year but will clearly weaken. The soft American economy is casting its long shadows.
Nov 16, 2007, 05:19
Dr. Peter Morici: The Limits of US Federal Reserve Policy
Federal Reserve policymakers and critics labor under false assumptions. Hawks believe tighter credit can stave off inflation. Doves hew to lower rates to mitigate risks of recession.
Nov 12, 2007, 08:53
Dr. Peter Morici: US Stock Prices and the Trade Deficit; Forecasts for the Weeks of November 12 and November 19
Wall Street and American capitalism are suffering a crisis of confidence. Stock markets are in turmoil, because US banks are taking record losses from foolish bets on subprime mortgages, the dollar is tanking against the euro and some other currencies, and oil prices are rocketing.
Nov 9, 2007, 07:15
Dr. Peter Morici: US Economy adds 166,000 employees in October; While ranks of the Self Employed fall: Credit Crisis grows, Bernanke’s credibility suffers
Today, the US Labor Department reported that its survey of employers indicates the economy added 166,000 payroll jobs in October, after posting a 96,000 gain in September.
Nov 2, 2007, 16:29
Dr. Peter Morici: The Fed's Misstep, and Forecasts for the Weeks of November 5 and November 1
The big news this week was not the Federal Reserve’s decision to cut federal funds rate from 4.75 to 4.5 percent, rather the notable event was the Fed's indication it would not likely cut rates further.
Nov 2, 2007, 10:48
Dr. Peter Morici: The Falling US Dollar and the Stubborn US Trade Deficit
Since October 2006, the euro has risen about 13 percent against the dollar but don’t expect dramatic improvements in the US trade deficit until China and other Asian exporters permit their currencies to rise significantly too.
Nov 1, 2007, 05:20
Where is the Outrage? Gombeenism thrives at home while in Paris, OECD staff work on proposals for Irish public service reform
Irish Government Chief Whip Tom Kitt told the RTE Morning Ireland radio programme earlier this week that the expansion of the number of parliamentary committees to twenty-three was necessary to respond to the demands of the modern world. Twenty additional researchers will be employed and only a fool would expect any change in the 1920's era ramshackle system of limited accountability and responsibility. Meanwhile, in Paris, staff of the OECD, the think-tank for 30 governments of mainly industrialised countries including Ireland, are working on proposals for reform of the Irish public service.
Oct 27, 2007, 05:47
Dr. Peter Morici: Why Bernanke should Cut Rates and Forecasts for the Weeks of October 22 and October 29
This week Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson admitted the mortgage crisis and housing slump are more critical than previously assessed. Paulson is prodding major players in the private capital markets to create a safety net for bonds that fund home mortgages and refinance more adjustable rate mortgages (ARMS). The goal is to put a floor under housing prices and save the economy from recession. An interest rate cut from the Federal Reserve would help a lot.
Oct 19, 2007, 05:38