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Tag Archives: federal open market committee
Monetary Looting
Monetary Looting The United States has historically bragged about its free and transparent markets. But what the Fed is doing today is pulling a dark curtain around the financing of this so-called free and transparent market. The public has no idea which Wall Street firms have received this $3 trillion or why they can’t borrow […]
NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos
NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos Anyone who expected that the easing of the quarter-end funding squeeze in the repo market would mean the Fed would gradually fade its interventions in the repo market, was disappointed on Friday afternoon when the NY Fed announced it […]
Goldman: Here’s Why The Fed Is About To Shock The Market
Goldman: Here’s Why The Fed Is About To Shock The Market As discussed earlier, and as both Bank of America and JPM explained, the biggest risk for the market next week is if the Fed not only doesn’t cut – the market assigns a very low probability to such a “pre-emptive” move – but fails to signal an aggressive […]
Weekly Commentary: Doing Harm with Uber-Dovish
Weekly Commentary: Doing Harm with Uber-Dovish This week’s FOMC meeting will be debated for years – perhaps even decades. The Fed essentially pre-committed to no rate hike in 2019. The committee downgraded both its growth and inflation forecasts. Having all at once turned of little consequence, we can now dismiss the 3.8% unemployment rate and […]
Laughable FOMC Statements on Phillips Curve, Inflation Expectations
Laughable FOMC Statements on Phillips Curve, Inflation Expectations The Jan 30-31 FOMC minutes were published today. In addition to the usual drivel came laughable Phillips Curve nonsense. The Fed released its January 30-31 FOMC Meeting Minutes today. The minutes were a combination of the usual drivel about the economy plus some downright laughable comments on […]
The Power Elite: Bumbling Incompetents
The Power Elite: Bumbling Incompetents Geniuses in Charge BALTIMORE, Maryland – Is there any smarter group of homo sapiens on the planet? Or in all of history? We’re talking about Fed economists, of course. Not only did they avoid another Great Depression by bold absurdity…giving the economy more of the one thing of which it clearly had […]
Fed Official Confesses Fed Rigged Stock Market — Crash Certain
Fed Official Confesses Fed Rigged Stock Market — Crash Certain In a dynamite interview, Richard Fisher, former president and CEO of the Federal Reserve Bank of Dallas, gave what may be the biggest confession you’ll ever see and hear from a Federal Reserve insider: the Federal Reserveknowingly “front ran” the US stock market recovery (i.e., manipulated […]
A Free Market in Interest Rates
A Free Market in Interest Rates Unless you’re living under a rock, you know that we have an administered interest rate. This means that the bureaucrats at the Federal Reserve decide what’s good for the little people. Then they impose it on us. In trying to return to freedom, many people wonder why couldn’t we […]
Christmas Present
Christmas Present Theory du jour: the new Star Wars movie is sucking in whatever meager disposable lucre remains among the economically-flayed mid-to-lower orders of America. In fact, I propose a new index showing an inverse relationship between Star Wars box office receipts and soundness of the financial commonweal. In other words, Star Wars is all that remains of the US economy […]
The FOMC Decision, US Money Supply and the Economy
The FOMC Decision, US Money Supply and the Economy Giving the Kremlinologists Something to Do As is well known by now, on Wednesday the US central monetary planning bureau finally went through with its threat to hike the target range for overnight bank lending rates from nothing to almost nothing. Photo credit: Luca Brenta The very […]
A Free Market in Interest Rates
A Free Market in Interest Rates The Corn Control Agency Unless you’re living under a rock, you know that we have an administered interest rate. This means that the bureaucrats at the Federal Reserve decide what’s good for the little people. Then they impose it on us. In trying to return to freedom, many people […]
Today Will Be a Watershed Moment for Financial Markets
Today Will Be a Watershed Moment for Financial Markets I believe the world is at the greatest financial market inflection point since 1929. One that calls for a basic truism: You can make a profit in a rising market if you are long. And you can profit in falling market if you are short. The […]
December 16, 2015—–When The End Of The Bubble Begins
December 16, 2015—–When The End Of The Bubble Begins They are going to layer their post-meeting statement with a steaming pile of if, ands & buts. It will exude an abundance of caution and a dearth of clarity. Having judged that a 25 bps pinprick is warranted, the FOMC will then plant itself firmly in front of the great flickering dashboard in the […]
From ZIRP to NIRP
From ZIRP to NIRP The sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about emerging market economies, has got financial scribblers writing about negative interest rate policies (NIRP). Coincidentally, Andrew Haldane, the chief economist at the Bank of England, published a […]
The Federal Reserve is Not Your Friend
The Federal Reserve is Not Your Friend Fed policies disproportionately favor wealth. Imagine that the Food and Drug Administration (FDA) was a corporation, with its shares owned by the nation’s major pharmaceutical companies. How would you feel about the regulation of medications? Whose interests would this corporation be serving? Or suppose that major oil companies […]
