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Edward Harrison

Edward Harrison's Public Library

  • The following may be considered to be compatible with the internal market:
  • aid to promote the execution of an important project of common European interest or to remedy a serious disturbance in the economy of a Member State;

  • My order book is abysmal. I've had a couple of vendors go into bankruptcy and a few more that are precariously sitting on the edge of bankruptcy.

  • The S&P 500 is showing a 12% gain over this time last year, aided by the sell-off in the late summer of 2015 from the yuan devaluation. But there are no asterisks in this game. The numbers are the numbers.

  • In some ways, monetary accommodation is actually exacerbating the problems the central banks are trying to address. For example, many people, especially senior citizens with inadequate retirement funds, are driven to save more, while zombie companies are kept alive perpetuating a misallocation of capital, and retarding new investment opportunities. The lesson to draw from this week's meetings is that central banks are not equipped on their own to deliver the economic changes we crave.

  • over the course of 2016 we’ve seen no apparent progress toward the 2% inflation target. If anything, the inflation rate in January was closer to the Fed’s goal than in July.

  • There is no indication that the Fed is targeting a higher level of inflation as an overshoot. Rather, they want to be sure we are moving back toward the 2.0% level as they look to the jobs picture in adjusting policy.

  • "The UK is a must to avoid. Its gilts are resting on a bed of nitroglycerine," he said."High debt with the potential to devalue its currency present high risks for bond investors."
Jul 18, 16

"The establishment reacts to floating voters by patronising them and if they indicate that they may vote for a candidate such as Le Pen, they are lampooned as being racist, out of touch or backward.
However, in this article, I am going to show you the economic evidence that is driving the guy in the middle, not just in France but everywhere in the West to the extremes.
The first thing to know is that the plight of the middle in France is real."

  • n sum, our brains are NOT hard-wired for non-confirmatory evidence. We are not rewarded for seeking non-confirming data. Therefore, we generally seek confirmatory evidence after we have made any decision.

  • And this is exactly how bond vigilantes work in a sovereign currency area. The implicit understanding is that inflation spirals out of control and the bond vigilantes front run the central bank’s move to counteract this inflation.

  • unless the European Council, in agreement with the Member State concerned, unanimously decides to extend this period.

  • we cannot rule out the possibility expressed by some prominent economists that the slow productivity growth seen in recent years will continue into the future
  • More generally, in the current environment of sluggish growth, low inflation, and already very accommodative monetary policy in many advanced economies, investor perceptions of and appetite for risk can change abruptly.
  • the Committee expects that the federal funds rate is likely to remain, for some time, below the levels that are expected to prevail in the longer run because headwinds--which include restraint on U.S. economic activity from economic and financial developments abroad, subdued household formation, and meager productivity growth--mean that the interest rate needed to keep the economy operating near its potential is low by historical standards.

  • Whatever the British say or feel, there will be a price to pay, if only to prevent further attempts to exit the E.U.

  • I think the fact that Esther George did not descent is telling you that there is an acknowledgement among members of the committee that the United States is probably headed toward a recession

  • I see the value in making small and gradual adjustments to the fed funds rate as the data improve and confirm my positive baseline outlook for the U.S. And this is my base-case view of appropriate policy. On the other hand, if I think outside of the baseline, I also think that a reasonable case can be made for holding off increasing the funds rate until core inflation actually gets to 2 percent on a sustainable basis.

  • Information received since the Federal Open Market Committee met in April indicates that the pace of improvement in the labor market has slowed

  • It's not going too far to say we are watching a showdown between Fed Chairman Ben Bernanke and bond investors, otherwise known as the financial markets. When in doubt, bet on the markets
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