excess reserves

A Different Kind, But Corruption Nonetheless

By Jeffrey P. Snider|2017-09-27T12:27:04-04:00September 27th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The problem with the Federal Reserve is that it is corrupt. I don’t mean that its staff is busy filling their days thinking up ways to cheat the American taxpayer, rather it is a philosophical sort of debasement. Many people think the Fed is evil and nefarious, others that its policymakers are plain stupid. Neither of those is true. Ben [...]

Central Banks Raise Risk not Inflation

The Bank of Japan shouted down the debt laden economy on Thursday evening in the US. Following Europe’s precedent, they took interest rates on a certain segment of bank assets negative. News flash: Asset prices rise from a small change in investor asset preference, nothing else is expected to change. Where’s this all heading? When doing scenario analysis, I think [...]

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