Category Archives: Federal Reserve

Federal Reserve very wisely puts interest rate rises on hold

Posted on March 1, 2019 by haroldchorneyeconomist

The chairman of the Federal Reserve Jerome Powell has very sensibly reviewed the current economic climate including a potentially messy Brexit, slower growth in China and low inflation and low oil prices and decided not to continue its policy of … Continue reading →

Posted in Federal Reserve, monetary policy, natural rate of inflation, natural rate of unemployment, Uncategorized | Leave a comment

The Federal Reserve‘s obsession with imminent inflation – for once I agree with President Trump

Posted on October 17, 2018 by haroldchorneyeconomist

President Donald Trump has done and said many negative things in the policy realm that I strongly disagree with. But on the subject of the Fed policy of restoring higher interest rates because of the supposed threat of inflation,  I … Continue reading →

Posted in Federal Reserve, monetary policy, natural rate of unemployment, treasury view, Uncategorized | Tagged , , | 2 Comments

President Trump selects Jerome Powell as new Fed chair replacing Janet Yellen

Posted on November 3, 2017 by haroldchorneyeconomist

In what may well turn out to be a controversial decision President Trump has broken with precedent and decided not to reappoint Janet Yellen to a second term as Fed chair despite praising her for her excellent work as chair. … Continue reading →

Posted in Federal Reserve, full employment, Keynesian policy, quantitative easing, U.S., urban culture | Leave a comment

Condolences to all those affected by the tragic events in Las Vegas and the terrible hurricanes, the earthquake in Mexico and a suggestion to help repair the damages.

Posted on October 5, 2017 by haroldchorneyeconomist

Many millions of people in the US. have been tragically affected by the terrible hurricanes that swept through Florida, Texas, Louisiana,Puerto Rico, the Caribbean islands and now the horror of a mass shooting in Nevada.Mexico also suffered a tragic loss … Continue reading →

Posted in deficits and debt, Federal Reserve, fiscal policy, funding essential infrastructure, Uncategorized | Tagged , | Leave a comment

After the Crash:Rediscovering Keynes and the origins of quantitative easing (2nd posting)

Posted on September 9, 2016 by haroldchorneyeconomist

By Harold R.Chorney Professor of Political economy, Concordia University Montréal, Québec Preface: More than twenty five years ago I began to write about problems of public finance.( Chorney, 1984) At the time that I began to do so, I never … Continue reading →

Posted in austerity, business cycles, Canada, China and europe, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Hayek, Italian debt crisis, J.M.Keynes, Japanese unemployment, Keynesian multiplier, monetary policy, quantitative easing, quantity theory of money, treasury view, U.K. economy, U.S., Uncategorized | Tagged , , | Leave a comment

Unemployment Rises in Canada, falls in U.S. but weak numbers in both countries suggest possible slow down

Posted on January 11, 2014 by haroldchorneyeconomist

Statistics Canada and the U.S. bureau of labour statistics published their December unemployment numbers and there are signs of potential trouble in both sets of numbers. The unemployment rate rose in Canada to 7.2% and fell in the U.S. to … Continue reading →

Posted in austerity, Canada, Federal Reserve, fiscal policy, full employment, government shut down+debt ceiling U.S., monetary policy, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment

U.S. jobs report January 2013 unemployment 7.9% 157,000 jobs added:clear need for further fiscal stimulus

Posted on February 1, 2013 by haroldchorneyeconomist

The U.S. Bureau of Labour Statistics has released the employment report for January . It shows that unemployment rose slightly to 7.9 %, 157,000 new jobs were added and there were significant upward revisions to employment numbers for last November … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, Federal Reserve, fiscal policy, full employment, monetary policy, quantitative easing, U.S. | Tagged , , | Leave a comment

The fall economic conversation: Hayek versus Keynes, Romney versus Obama, whither the global business cycle ?

Posted on September 18, 2012 by haroldchorneyeconomist

Now that relative calm has  returned to Québec after the provincial election we can focus our attention on the broader economic issues that beset the global economy. The American election although currently focused on foreign policy appears set to return … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, free trade and globalization, full employment, Hayek, treasury view, U.K. economy, U.S., Uncategorized, unemployment | Leave a comment

Poli 610:Macro-economic theory and policy after Keynes and the crash of 2008

Posted on September 6, 2012 by haroldchorneyeconomist

Pol. 610  Macro-economic policy-making after Keynes Concordia University fall, 2012 Prof. H. Chorney tel. 848 2424 ext.2106  e mail Chorney@alcor.concordia.ca Office hours tba This course is an intensive examination of macro-economic policy-making and macro-economic theory in the light of recent … Continue reading →

Posted in austerity, business cycles, Canada, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, free trade and globalization, full employment, Hayek, J.M.Keynes, Keynesian multiplier, labour market clearing, Milton Friedman and NAIRU, monetary policy, natural rate of inflation, quantitative easing, quantity theory of money, Schumpeter, U.K. economy, U.S., Uncategorized, unemployment | Leave a comment

Alvin Hansen, the right amount of money, deficit finance and the search for full employment.

Posted on June 1, 2012 by haroldchorneyeconomist

Alvin  Hansen establishes early in his work, Monetary Theory and Fiscal policy that the power to create money is a force to be reckoned with. In the nineteenth century in the U.S.the private banks at the behest of their business … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, Federal Reserve, fiscal policy, full employment, monetary policy, quantitative easing, quantity theory of money, treasury view, U.S., Uncategorized | Tagged , , , , | 4 Comments