We are starting to exhaust the keyboard for the shape of the recovery … and reuse letters! Two different views: From Bloomberg: Rosenberg Sees Low-To-No-Growth as Kantor Vows Vigorous Economy (ht jb) “Right now the economy is being held together … Read More
Kind of a weird juxtaposition … From the WSJ: Foreclosures Grow in Housing Market’s Top Tiers About 30% of foreclosures in June involved homes in the top third of local housing values, up from 16% when the foreclosure crisis began … Read More
My post on the G-20’s agenda can be found on the official Pittsburgh Summit blog.
Read more here - One time return to blogging
This will be my last blog post, at least for the foreseeable future. I have accepted a new job , one that will require a certain level of discretion. I am excited by its challenges: ‘Balanced and sustainable” growth is … Read More
A quick chart showing how my estimates (from work I have done with Arpana Pandey of the CFR ) for official holdings of Treasuries and Agencies compares with the FRBNY custodial holdings and the data that the US reports on … Read More
One of the biggest economic and political stories of this decade has been China’s emergence as the world’s biggest creditor country. At least in a ‘flow” sense. China’s current account surplus is now the world’s largest – and its government … Read More
The Fed’s custodial holdings of Treasuries just topped $2 trillion. Custodial holdings of Treasuries rose by $25 billion in July. The overall pace of growth in the Fed’s custodial holdings did slow a bit in July, as some of the … Read More
Qing Wang of Morgan Stanley: “Given China’s high national savings rate, from the perspective of the economy as a whole, there are only three forms in which China can deploy its savings: 1) onshore physical assets; 2) offshore physical assets; … Read More
This post is by Brad Setser and Paul Swartz of the Council on Foreign Relations. No doubt today’s GDP release will attract the lion’s share of the econoblogosphere’s attention. But sometimes it is a good idea to counter-program. Paul Swartz, … Read More
One thing that has puzzled me is that some of the countries that have — implicitly at least — been most critical of the expansion of the Fed’s balance sheet during the crisis long have had much larger balance sheets … Read More