Fed Raising Interest Rates is Unwelcome and Unnecessary

By Thomas Palley Cross-posted from the AFL-CIO economy blog.  Wednesday’s decision by the Federal Reserve to raise interest rates is unwelcome and unnecessary. As admitted in its statement, investment remains soft, growth is only moderate and inflation expectations are little changed. Moreover, the economy confronts financial headwinds from the recent jump in long-term interest rates … More Fed Raising Interest Rates is Unwelcome and Unnecessary

CALL FOR PAPERS: Special issue on ‘Monetary policy and negative interest rates’ Review of Keynesian Economics

In light of increased unemployment, the absence of strong economic growth and the threat of deflation in many countries, the recent financial crisis led many to expect a shift in monetary policy. Central banks were at the forefront of these changes, by shunning ‘conventional’ policies in favour of so-called unconventional ones. After experimenting with Quantitative … More CALL FOR PAPERS: Special issue on ‘Monetary policy and negative interest rates’ Review of Keynesian Economics

New Paper by Tony Aspromourgos: Keynes, Public Debt and the Complex of Interest Rates

By Tony Aspromourgos, The role of public debt in Keynes’s economic policy thinking is a question of considerable interest – most obviously, because deficits and debt have always been a prominent and important motif of debates around Keynesian economics. In a pair of companion articles I have sought to reconstruct Keynes’s views on public debt, … More New Paper by Tony Aspromourgos: Keynes, Public Debt and the Complex of Interest Rates