Daily Archives: April 22, 2009

By Ricardo J. Caballero

Ben Bernanke, US Federal Reserve chairman, and Tim Geithner, US Treasury Secretary, have reminded us recently that it is time to start thinking about the financial system of the future. This is important not just for the future itself, but also because doing so helps to narrow the types of policies that are desirable during the current crisis. The measures taken today should not hamper, and ideally should facilitate, the transition into the financial system of the future. Read more

Pinn illustration

Spring has arrived and policymakers see “green shoots”. Barack Obama’s economic adviser, Lawrence Summers, says the “sense of freefall” in the US economy should end in a few months. The president himself spies “glimmers of hope”. Ben Bernanke, chairman of the Federal Reserve, said last week “recently we have seen tentative signs that the sharp decline in economic activity may be slowing, for example, in data on home sales, homebuilding and consumer spending, including sales of new motor vehicles”. Read more