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NYT Columnist Krugman sends zinger to Fed
Jun 24th, 2013 by Warren Swil

Is FOMC caving

to pressure from

extremist deficit hawks?

The website of the House Budget Committee’s FY 2013 budget plan calling for massive deficit reduction.

THE NEW YORK TIMES COLUMNIST Prof. Paul Krugman, a faculty member at Princeton University, sent a barbed message to the Federal Reserve Bank’s Board of Governors in his column this morning.
The headline was flawless: Et Tu, Bernanke?
Remember Brutus? And Ceasar!
Krugman wrote: “Lately, Fed officials have been issuing increasingly strong hints that rather than doing more, they want to do less, that they are eager to start “tapering,” returning to normal monetary policy….
“… [M]y guess is that what’s really happening is … Fed officials are, consciously or not, responding to political pressure.”
Indeed!


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MARKETPLACE on NPR nails stock market plunge story – updated!

STOCK MARKET PLUNGES AFTER FED MEETING
The Marketplace show hosted by Kai Ryssdal on NPR stations lead its broadcast Thursday with the 353-point plunge in the Dow, and its relationship to the meeting the day before at the Federal Reserve.
“Wall Street dropped hard yesterday, harder today … and don’t even get me started on bonds, people….” Ryssdal said.
Hearing this, anyone In the (K)now would have done what I did. Find out here.


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Hedge fund managers fight the Fed – and lose

Hedge fund managers and certain segments of the economics profession have been screaming “danger” about the expansionary monetary policies of the Federal Reserve Bank – that runaway inflation and the collapse of U.S. government debt are just around the corner.
But, as Jesse Eisinger so brilliantly put it in Thursday’s The New York Times: “They fought the Fed and the Fed won.”


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