And the Federal Reserve is the reason for the “well-founded sense that they system is broken and rigged.” All of which goaded me to create a new meme. I’ll close by stating that today’s column isn’t about America’s central bank shifting blame. But it would be very interesting ...
Louis Federal Reserve Bank, gave a nice presentation on “The Tapering Debate” today. See the whole thing here. One question he considers is whether the Fed balance sheet is getting scarily big. It’s certainly large by U.S. historical standards — the only time is was bigger, relative ...
Recent economic data have modestly cooled financial markets’ expectations for early rate cuts. Last week’sjobs report for Novembershowed that the unemployment rate fell to 3.7%, near a half-century low, down from 3.9% as businesses engaged in solid hiring. Such a low u...
Jr.arrived at work in his office in the Federal Reserve Bank in Washington, DC, he was alone. I don’t mean there weren’t other people in the building it’s just that it was a busy day and all the other members of the Fed Board of Governors who are normally in Washington were...
“The Federal Reserve bank buys government bonds without one penny…”— Congressman Wright Patman, Congressional Record, Sept 30, 1941 “We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has im...
Since the Federal Reserve in December hiked the fed funds target rate thePeople Bank of Chinaeffective has tried to decouple Chinese monetary policy from US monetary policy by allowing a crawling devaluation of the Renminbi. This in my view has played a positive role in offsetting the negative ...
“Since the Federal Reserve Bank’s creation in 1913 the dollar has lost more than 96% of its value,” Ron Paul continued,“and by recklessly inflating the money supply the Fed continues to distort interest rates and intentionally erode the value of the dollar.” The bill, although it rem...
Below is the transcript of an interview with the Federal Reserve Bank of Cleveland’s President, Loretta Mester, and CNBC’s Joumanna Bercetche. JB: I’m joined by Loretta Mester, the President of the Cleveland Fed. And just to pick up on some of the comments that you made ...
Federal Reserve survey showed on Wednesday, as central bankers mull how long they will need to keep interest rates at current levels. The U.S. central bank's latest temperature check on the health of the economy also showed that the jobs market continues to more normalized levels. Read More...
Now, if you’re saving for retirement or some other purpose, the fact that you hold bank reserves rather than bonds doesn’t make you suddenly abandon your retirement plans. Nor does all of this unconventional money have much effect on spending in the economy. As I’ve shown before, the ...