Can Yellen Keep the Boom Going?
byBy Brendan Brown Yellen, like notorious previous Fed chiefs including Strong, Martin, and Greenspan, can now claim success in having prolonged and strengthened an asset…
Central Banking
How the Fed operates
byWe are often asked about the mechanisms by which the US Federal Reserve Board (the Fed) influences the level of US interest rates and…
Cobden Centre Senior Fellow Detlev Schlichter at the Treasury Select Committee
byYou can see Cobden Centre Senior Fellow Detlev Schlichter’s insightful and pertinent contributions at the Treasury Select Committee’s enquiry into the “Effectiveness and Impact…
Central banks and money creation is there any connection?
byAccording to traditional economics textbooks, the current monetary system amplifies the initial monetary injections of money. The popular story goes as follows: if the…
Stress Tests don’t work
byCriticisms of bank stress tests continue to mount, particularly as banks continue to struggle. A new problem recently emerged: the marked shortfall between the…
Inflation To Rise – We expect UK, ECB and US Policy to Diverge
byPurely for geopolitical reasons, namely frustration at the failure of the governments of individual member states to respond to repeated calls for “structural reforms”,…
Gini and monetary policy
byOr how central bankers are ducking the wealth transfer issue Central banks must be increasingly aware that critics of monetary policy are getting some…
Benn Steil: Of Debt and Detriment
byIt is the exorbitant privilege of the United States that it can conjure the world’s primary reserve currency, Valéry Giscard d’Estaing, then French finance…
Price controls and propaganda
byMost economists agree on one thing; price controls do not work. Many go on to say they create shortages of goods, which inevitably drives…
Zero Hedge: With The Greek Crisis Back, There Are Five Possible Scenarios From Here
byAs discussed last Friday, Greece is back in the public spotlight and – hardly surprising – it is once again on the verge of…