Economic Roundup

Here is a roundup of the weeks macro-news with some thoughts on its impact on future Fed behavior.

What the Hayek should you be reading?

Lynne Kiesling (Miami Econ Alum) links to Greg Mankiw's (whose sister is a Western grad) new blog and an entry on Austrian economics. She lists her essential Hayek readings which you may like to add to your summer reading list.

There is cheap gas somewhere

Gas is going for $.12/gallon (and no, I didn't misplace a decimal) in Venezuela. Aplia, a blog designed to relate current events to the classroom, has an article.

Where did dismal come from?

The marginal revolution reports on the Daily Show's explanation. Be sure to follow the link with another explanation which is, perhaps, even more interesting.

Walmart spreads like.....

Marginal Revolution on the economies of "closeness". Don't miss the cool video showing the spread of Walmarts over time. (Hat tip to Matt Krepsik)

Fedspeak

Learning how to translate Fedspeak can be important. This Washington Post article has some tips. (Hat tip to Bill Craighead)

Fed hikes rate again

In yesterday's meeting the FOMC voted to raise its target federal funds rate to 5%. There is commentary here.

"I wanna be like Mike"

Well there is only one Mike, but if you want to read books that influenced Professor Mike Curme (and surely you should) then check out his list here.