Apr 21 New $100 Bill Gets a Facelift By Tom LeGro In the appropriately named Cash Room of the Department of the Treasury, Treasurer of the United States Rosie Rios, along with Fed Chairman Ben Bernanke and Secretary of the Treasury Timothy Geithner, unveiled a new design of the $100 bill… Continue reading
Nov 17 Obama Cites Human Rights, Currency in China By Maureen Hoch Talks between President Barack Obama and Chinese President Hu Jintao yielded pledges to cooperate on climate change and the economy, but little by way of human rights and upping the value of the yuan currency. Continue reading
Jul 13 Is California Printing Its Own Money? Question: Is California printing its own money? Paul Solman: Funny you should ask. The State of California Franchise Tax Board website currently features this statement: “We will accept registered warrants…towards the payment of tax liabilities.” State taxes, of… Continue reading
Jun 16 Why Doesn’t the Government Simply Give Households Lots of Money to Stimulate the Economy? Question: One of the most popular suggestions I’ve heard for stimulating the economy is the federal government should give every household one or two million dollars. Would that work or would it create hyperinflation? Paul Solman: Let’s not be profligate… Continue reading
Jun 10 If China Pulls Away From the Dollar, What Happens to the U.S. Economy? Question: There’s been speculation that China will lessen its ties to the U.S. dollar and U.S. debt. Some countries would also like oil to be priced in something other than dollars. If these events were to happen, what might be… Continue reading
Apr 17 Why Doesn’t the Yuan Trade Like Other Currencies? Question: Why don’t we let the yuan trade like other currencies? Even now, the yuan has an 20 percent or higher edge on other currencies because of the existing rules. Paul Solman: Now, now, Maya, as my dad used to… Continue reading
Apr 07 Why Does the United States Have to Borrow Money From Other Countries? Question: If the federal government (and/or Treasury) can just create money, why does it have to borrow it from other countries? Paul Solman: Great question. Because it’s so cheap to do so right now, the thinking goes, why… Continue reading
Jan 30 Watch Global Trade Freezes Amid Economic Downturn Economics correspondent Paul Solman returns to the trade hub of Long Beach, Calif., to check on how the import and export business has been impacted by the global economic crisis. Continue watching
Oct 27 Now that governments have to inject billions into world banks, do you think monetary policy should be adjusted to better maintain a balance between currency in circulation and bank funds? Question/Comment: The ratio between commercial bank money and currency in circulation has been widening for decades. While the Federal Reserve’s monetary policy has protected our economy from runaway inflation, it may have been starving the market for currency. Now that… Continue reading
Jun 17 What are the pros and cons for denominating oil worldwide in U.S. dollars? Question/Comment: What are the pros and cons for denominating oil worldwide in U.S. dollars, versus in some other currency or basket of currencies? Paul Solman: For whom? The big pro, from the US point of view, is that… Continue reading