Tag Archive for Imf

Mr. Hyde and Mr. Hyde – Frederick J. Sheehan

Stanley Fischer is in the pipeline for the vice chairmanship of the Federal Reserve Board of Governors. In this capacity, he would bang heads to gather FOMC votes for (Presumptive) Fed Chairman Janet Yellen. According to the New York Times, Fischer would “exert a moderating influence on Ms. Yellen,” (” For No. 2 at Fed, White House Favors Central Banker in the Bernanke Mold.”)

Could business optimism in Greece translate into stabilization? – Sober Look

Last week the International Monetary Fund said it will provide Greece with another installment in the amount of €1.7 billion under the second bailout plan. As the nation complies with troika’s bailout provisions, including dismissing thousands of public-sector employees, economic indicators out of Greece continue to worsen. The latest unemployment rate clocked at 27%, resulting in a spectacular drop in consumer spending.

These Gas Tax Hikes Will Make Driving A Lot More Expensive- Money Morning

Americans worried about how rising oil prices might affect prices at the pump are about to get blindsided by looming gas tax hikes that almost guarantee higher gasoline prices.

And it’s not just state governments looking to shake down American motorists.

Alarmingly, the International Monetary Fund (IMF) has called for the U.S. government to increase the current federal gasoline tax of $0.184 per gallon by a whopping $1.40.

In a March 26 speech, IMF Deputy Director David Lipton said the gas tax hike would pay for social programs around the world as well as to save the environment.

“The time has come for subsidy reform and carbon taxation,” Lipton said.

This federal gas tax hike, if imposed, would add $14 to a typical 10-gallon fill-up and hundreds of dollars to the annual cost of driving.

Fortunately for U.S. drivers, few in Washington support the IMF proposal.

“Higher gas prices hit those who can least afford it the most as American families are forced to pay a larger percentage of their income on higher energy prices,” Rep. Fred Upton, R-MI, chairman of the House Energy and Commerce Committee, told Fox Business. “Drivers across the country are already struggling to pay up to $4.00 a gallon for gas, and further price increases at the pump could be devastating to low- and middle-class families and disastrous to our economic recovery.”

Now if only state legislatures felt the same way…

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Why I Cancelled Everything in Germany and Took the Next Flight to Dubai – Kent Moors – Money Morning

This is a syndicated repost courtesy of Money Morning. To view original, click here. Something big unfolded on my trip to Frankfurt last week. It began with meetings in Germany over natural gas prices, but morphed into an interesting sidebar on the impact government subsidies have on energy prices. As I noted last week, a…