The Fed Who Cried Growth
byBy Jonathan Newman The FOMC has consistently overestimated future Fed Funds Rate (FFR) hikes. For a body that prides itself on super-scientific research methods and…
Central Banking
Bank of Dave
byTom Clougherty’s recent Alt-M post on competition (or the lack thereof) in UK banking nicely highlights the problem posed by barriers to entry into…
Has the BoJ signalled the end of QE as we know it?
byThat’s what David Keohane asks in yesterday’s FT Alphaville based on recent Citi and Goldman research notes. Citi’s Buiter: “In some ways, it is…
Fed Up! Hillary Clinton in Cahoots with Attempted “Hostile Takeover” of the Fed
byFed Up activists assemble outside a Congressional hearing (photo credit: Ralph Benko) I’m fed up with the Fed too, with its chronic policy failures….
Central Banks May Choose Helicopter Money Over Negative Rates
byThe US Federal Reserve (Fed) is considering raising rates. Is the “normalization” of interest rates about to happen which savers and investors have been…
David Stockman: The Apotheosis Of Bubble Finance
byThe inexorable effect of contemporary central banking is serial financial booms and busts. With that comes increasing levels of systemic financial instability and a…
Mission Creep – How the Fed will justify maintaining its excessive balance sheet
byFOMC have changed their normalizing strategy several times and we now see the contours of yet another shift. The Federal Reserve was supposed to…
The mass escape from reality
by“..Built into the speculative episode is the euphoria, the mass escape from reality, that excludes any serious contemplation of the true nature of what…
QE is Simply Reactionary
byThe Bank of England has recently announced a new round of quantitative easing alongside an interest rates cut, pushing £100 billion into banks, with…
There is merely a distinction of reason between rules and discretion in central banks’ monetary policy
byAbstract: I briefly review some key articles within the monetary policy literature regarding the debate surrounding rule-based versus discretionary monetary policy and relate them…