federal funds

EFF Watch, Or Is It IOER Watch?

By |2018-06-22T16:09:37+00:00June 22nd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

How bereft of ideas might they have to be to fall back on IOER? It’s scandalous, really. But the Federal Reserve in terms of intellectual property belongs on the TV program Hoarders. They never throw anything away, so attached do they become to whatever ineffective idea implemented at any time. Practical experience is in their [...]

Uncertainty, Or You Had One Job To Do (And It Wasn’t Dots)

By |2018-06-13T16:50:38+00:00June 13th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

As anticipated, the FOMC voted on both proposals in front of it. There should only be the one, but even routine monetary policy no longer is. Alan Greenspan’s Fed charged ahead with seventeen consecutive moves (the last few completed under Ben Bernanke) with little discussion about uncertainty in the economy (though there was, conundrums and [...]

A Boom Of Hysteria

By |2018-02-13T12:28:08+00:00February 13th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s always been easy to lose perspective. In the modern social media age, maybe it has become even easier. Conventional wisdom rarely seems to get challenged anymore, particularly given the assignment of “what everybody knows.” Big Data is, for example, predicated on a very good theory, the wisdom of crowds. It hasn’t yet lived up [...]

The Great Risk of So Many Dinosaurs

By |2018-01-03T16:19:30+00:00January 3rd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Treasury Borrowing Advisory Committee (TBAC) was established a long time ago in the maelstrom of World War II budgetary as well as wartime conflagration. That made sense. To fight all over the world, the government required creative help in figuring out how to sell an amount of bonds it hadn’t needed (in proportional terms) [...]

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