Bawerk.net: Necessity is the Mother of Invention – Retirees Desperate Reach for Yield
Ben Bernanke’s creativity inspired a generation of economists and central bankers. QE, ZIRP and NIRP established a new class of economics that is mathematically…
by Jeffrey P. Snider: Wealth Paradox Not Effect
by Jeffrey P. Snider US Household Net Worth rose to a record $94.8 trillion in Q1 2017. According to the Federal Reserve’s Financial Accounts…
Zero Hedge: Goldman: The Fed Will Hike This Week, But Here Are “The Two Most Interesting Questions”
On Wedensday the FOMC will hike rates by another 25 bps – an event which the Fed Funds market prices in with near virtual…
Zero Hedge: The ECB Has Almost Run Out Of German Bonds To Buy
Source: http://www.zerohedge.com/news/2017-06-06/ecb-has-almost-run-out-eligible-german-bonds-buy One month ago, when looking at the sudden change in ECB bond purchasing patterns, especially of German Bunds, we reported that the central…
The World’s Central Banks Are Frozen with Fear
By Ryan McMaken 2016 was supposed to be the year that the Federal Reserve “normalized” its policies. As much as two years ago —…
Jeffrey P. Snider: Unfortunately An ‘Official’ End To The Rising Dollar Isn’t More
TIC data confirms that “reflation” captured more than just pricing sentiment. It appears to have occurred in bank balance sheet activity, and related official…
Benn Steil: PBoC Spins China’s Bad-Loan Data
In a recent speech at Bloomberg’s headquarters in New York, People’s Bank of China Deputy Governor Yi Gang reassured his audience on the level…
Benn Steil: RMB Globalization, Once “Unstoppable,” Heads Into Reverse
“The globalisation of the [Chinese RMB] seems remorseless and unstoppable,” the Economist pronounced in April 2014. A year later, a research-grant foundation asked me…
Auditing the Fed Is Now More Important than Ever
By Jonathan Newman Last week, the House Committee on Oversight and Government Reform approved a bill submitted by Thomas Massie (R-KY) to allow Congress to…
‘Nowhere To Go But Up’ Survives Because The Fed Refuses To Be Honest About Its Assessment of the Output Gap
by Jeffrey P. Snider The Federal Reserve under Ben Bernanke committed several unforgivable mistakes during his tumultuous tenure, but cumulatively they could be easily…