Election 2008

Even Lower Rates Coming?

We may be moving to record low Treasury yields and mortgage rates as bonds rally even further. If and when this move occurs please remember that (1) mortgage rates take as long as two days to move downward from the time Treasury yields move down and (2) because the situation is novel it is difficult

Even Lower Rates Coming?

We may be moving to record low Treasury yields and mortgage rates as bonds rally even further. If and when this move occurs please remember that (1) mortgage rates take as long as two days to move downward from the time Treasury yields move down and (2) because the situation is novel it is difficult

Obama’s Inaugural Address (full text)

Full transcript as prepared for delivery of President Barack Obama’s inaugural remarks on Jan. 20, 2009, at the United States Capitol in Washington, D.C. My fellow citizens: I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors. I thank President

bTunes Dedication To Economic Idealists: No One Knows

Amazon.com WidgetsThe Obama Era starts this week with a lot of tears and idealism and hope. We don’t discount the historical magnitude of Obama’s win, and in fact, we’re a bit caught up in the moment right now as you can see by our Obamafied logo in the rotation. But to those who are looking

Candidates Spent $1.7 billion on 2008 Presidential Election

President-elect Barack Obama spent $740.6 million to get elected president in 2008, which was more than the $646.7 million George W. Bush AND John Kerry spent combined in 2004, and 44% of all money spent by candidates in 2008. In total, candidates spent $1.7 billion on the 2008 election campaign. Here are more excerpts from

Obama Names Paul Volcker To Lead White House Economic Recovery Group

Barack Obama today named former Fed Chairman (from 1979 to 1987) Paul Volcker to lead a White House panel on economic recovery. Volcker steered the economy through a nasty recessionary and inflationary period and is no stranger to crisis management—he was successful in righting the ship, but his consumer legacy remains higher interest rates. The

Obama’s Announcement of Economic Team (bios & press Q&A video)

President Elect Barack Obama announced key members of his economic team today. Below are bios of these individuals, and also video of Obama’s announcement and Q&A. Obama Announcing His Economic Team Obama’s Press Q&A On Economic Team Economic team members announced today: Timothy F. Geithner, Secretary of the Treasury Timothy Geithner currently serves as president

Obama Promises 2.5m Jobs by 2011

In his weekly radio address, also on YouTube, President-elect Barack Obama announced plans to create 2.5 million jobs by 2011. It’s ambitious but necessary considering the US economy has lost 1.2m jobs in so far in 2008. The plan involves cutting taxes for lower- and middle-class and large public infrastructure projects to rebuild roads and

NY Fed Pres Tim Geithner To Suceed Paulson As Treasury Secretary

Timothy Geithner, current president of the New York Fed and voting member of the Ben Bernanke’s FOMC which sets interest rates, will replace Treasury Secretary Henry Paulson in Barack Obama’s new administration. Former Treasury Secretary from 1999-2001 Larry Summers will also have a key economic and regulatory advisory role. Geithner (pronounced GYTE-ner) has played a