Practical analysis for investment professionals

central banking


Poll: What Do You Think Will Be the Most Likely Impact of QE3?

In a poll conducted earlier this week in the CFA Institute Financial NewsBrief, we asked subscribers what they thought would be the most likely impact of QE3.

What do you think will… READ MORE ›

Book Review: Financing Failure: A Century of Bailouts

In this comprehensive historical analysis of several decades’ worth of decisions to bail out troubled banking firms, the author suggests that the 2008–09 interventions were ill conceived and inadequately justified. He argues that misguided government policies were largely responsible for the financial crises that necessitated such bailouts.

Why the Current Account Deficit Helps Explain the Economics of QE3

Yesterday, U.S. Federal Reserve Chairman Ben Bernanke removed all doubt about whether or not the Fed would proceed with QE3. What will be the impact? A careful study of the long-running U.S. current account deficit provides some answers.

Pushing on a String

Federal Reserve policy has substantial effects that are important for investors to understand, and future policy direction may be different than expected. 

Being riskless (by that I mean holding government securities) simply doesn’t pay anymore, and markets are starting to… READ MORE ›

Against Quantitative Easing by the European Central Bank

According to Jerry H. Tempelman, CFA, a more permanent solution to the European sovereign debt crisis will have to come not from the ECB but from the governments and citizens of its constituent countries.

Take 15: Wall Street Revalued

Andrew Smithers discusses why the U.S. equity market is currently overvalued and argues that central banks should be encouraging a reduction in debt levels and quality growth over time, rather than rapid growth now.



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