Daily Dispatch

Bernanke: Go, Get the Helicopters! 11/22/05

At his nomination hearing to succeed Federal Reserve (Fed) Chairman Greenspan, Ben Bernanke tried to diffuse his famous 'helicopter' remarks. He earned the nickname "Helicopter Ben" when he implied that deflation could be fought by dumping money out of helicopters.

M3 Measure of Money Discontinued by Fed 11/21/05

The Federal Reserve Board recently announced that it will stop publishing figures for M3 in March of 2006. It is one of the most commonly referenced measures of the U.S. money supply. This is not a momentous event, but it is another sign that the Fed would rather tell us less than tell us more.