1. Bernanke gave a testimony y’day before the Committee on the Budget, U.S. House of Representatives. Here is the summary and economists’ reactions. Bernanke seems to have also shown interest in some fiscal stimulus,though hasn’t indicated what type.
However, Econbrowser has an alternative view
2. After Possner, Lacker, Bernanke, 2 more join the “rising inflation is a concern” – Fisher (of Dallas Fed) and Sandra Pianalto (of Cleveland Fed). Despite this we are mostly sure to see rate cuts in next FOMC meeting on 29-30 Jan.
3. A nice humour by WSJ Blog – Bernanke as CEO.
4. Rodrik points to an article on how Ireland achieves its growth.
5. MR pointsto this article on WhyIndia lags behind China?
6. JRV points to the latest US Supreme court decision.
7. Ajay Shah points cut rates now.
8. TCA proposes a solution for PHDs which must be applied immediately.
9. Martin Wolf has an excellent article on restraining bankers’ pay. It is high time to do something abt the crazy salaries and severence pays. I often wonder why would someone work when he knows his non-performance pay is going to be so high.