PLEDGE NOW
Fed Considers Action

Job numbers are bad. The Fed weighs juicing the American economy – again. Should it do it now? We’ll hear the arguments.

Federal Reserve Chairman Ben Bernanke speaks to educators in the board room of the Federal Reserve in Washington, Tuesday, Aug. 7, 2012, during a town hall meeting. (AP)

Federal Reserve Chairman Ben Bernanke speaks to educators in the board room of the Federal Reserve in Washington, Tuesday, Aug. 7, 2012, during a town hall meeting. (AP)

Last month, Ben Bernanke was in Jackson Hole, Wyoming talking “grave concern” about American jobs.  Last week, the numbers came in.  Worse than expected.  And now, this week in Washington, the Fed is looking at big intervention again to try to move the US economy.

It’s part of the Federal Reserve Bank’s stated job to defend employment.  But its tools are wearing thin.  Republicans mutter that the timing is political.  Mitt Romney says it would fuel inflation.  But QE3 may be on the way.

This hour, On Point:  Should the Fed juice the US economy again?

-Tom Ashbrook

Guests

Ben White, Wall Street correspondent from Politico and author of the “Morning Money” column covering the intersection between finance and public policy.

Alan Blinder, professor of economics at Princeton University.

Martin Eichenbaum, professor of economics at Northwestern University.

From Tom’s Reading List

Washington Post “As the Federal Reserve prepares to take what is expected to be new action to stimulate the economy this week, divisions at the central bank may be undermining its efforts to speed up economic growth and lower unemployment.”

Bloomberg “Oil was little changed in New York as traders waited to see whether the Federal Reserve will announce measures to revive the economy this week.”

CNBC “After lackluster job creation in August, economists and the markets are readying for another round of Fed asset purchases, or quantitative easing. The only question now is do policy makers act in September or wait until the fiscal drag pulls down the U.S. growth rate?”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
May 21, 2015
Crashed cars with airbags deployed are shown to visitors as part of the display of Toyota Motor Corp.'s safety performance standards at the automaker's exhibition hall in Toyota, central Japan. (Shuji Kajiyama/AP)

ISIS rolls on. A TPP vote. Biggest recall ever – airbags. And Letterman’s last bow. Our weekly news roundtable goes behind the headlines.

May 21, 2015
The Barden Bellas, the all-female a cappella group at the center of Pitch Perfect 2. (Richard Cartwright/Universal Pictures via AP)

Pitch Perfect 2 is the number one movie in the country, and it’s over the top on a capella.

RECENT
SHOWS
May 21, 2015
The Barden Bellas, the all-female a cappella group at the center of Pitch Perfect 2. (Richard Cartwright/Universal Pictures via AP)

Pitch Perfect 2 is the number one movie in the country, and it’s over the top on a capella.

 
May 21, 2015
Crashed cars with airbags deployed are shown to visitors as part of the display of Toyota Motor Corp.'s safety performance standards at the automaker's exhibition hall in Toyota, central Japan. (Shuji Kajiyama/AP)

ISIS rolls on. A TPP vote. Biggest recall ever – airbags. And Letterman’s last bow. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
A Former Bike Gang Member Explains "The Life"
Tuesday, May 19, 2015

Larry called in from Lawrenceburg, KY and told us he was once a member of the Pagan’s Motorcycle Club, a mid-Atlantic biker gang. He didn’t sugar coat the facts as he explained the draw of the brotherhood and what makes the outlaw motorcycle corner the underworld go round.

More »
Comment
 
Our Week In The Web: May 15, 2015
Friday, May 15, 2015

We cancel a few hours and suddenly all of you get convinced of a global radio conspiracy! Plus, dragon zoos.

More »
1 Comment
 
Caller: ‘It Doesn’t Always Turn Out Okay’
Wednesday, May 13, 2015

One caller shares her own story of an extremely premature birth. Her daughter, born at 22 1/2 weeks in 2012, was taken off life support after seven days.

More »
Comment