reserve

On July 20, 2022, President Joe Biden traveled to a former coal-burning power plant in Massachusetts that is being converted into a manufacturing site for offshore wind power equipment. Biden announced millions of dollars in funding for climate change measures, including upgrading infrastructure, weatherizing buildings and installing cooling in homes. He also touted job growth from clean energy production and pledged to use all of his executive power to reduce U.S. greenhouse gas emissions. But Biden did not declare a national climate emergency – a step that some Democratic officials and activists have urged after Democratic Sen. Joe Manchin seemingly blocked legislative action and the Supreme Court limited the Environmental Protection Agency’s power to regulate greenhouse gas emissions. ...

What is the Fed taper? An economist explains how the Federal Reserve withdraws stimulus from the economy. Tapering refers to the Federal Reserve policy of unwinding the massive purchases of Treasury bonds and mortgage-backed securities it’s been making to shore up the economy during the pandemic. The unconventional monetary policy of buying assets is commonly known as quantitative easing. The Fed first adopted this policy during the 2008 financial crisis. Normally, when a central bank wants to reduce the cost of borrowing for companies and consumers, it lowers its target short-term interest rate. But with its target rate at zero during the 2008 crisis – at the same time that there was no inflation and the economy was still hurting – the Fed was no longer able to cut rates further. And so...

Tag: reserve

Biden Holds An Emergency Declaration In Reserve But Announces New Climate Change Actions

An Economist Explains What Is The Fed Taper And How The Federal Reserve Withdraws Stimulus From The Economy