Crisis Roundup

Here's a look at what's being discussed during this short week in finance:

Should China's policy response to the crisis be geared toward short or long-term objectives? (East Asia and Pacific on the Rise)

Is total US unemployment higher than 9.5 percent? Some are arguing it is closer to 16.5 percent. (WSJ Real Time Economics)

Demand for US reserves dramatically increased during the buildup to the Crisis. Now it is falling.  (Excellent graph from Brad Setser at the Council on Foreign Relations) 

Some at the Fed are worried about not enough inflation... (Via Naked Capitalism)

...but that doesn't seem to stop interest rates from going up (Via Credit Writedowns)