Nathan Tankus: What the Hell is Going On With CARES Act “Funds”?
Trying to make sense of CARES Act gimmickry.
Read more...Category Archives: Federal Reserve
The Mnuchin-Powell Affair Over the Fed’s “Special Purpose Vehicles” in Dollars & Effects
The Treasury and Fed set up junk-buying SPV programs The unwind is oddly controversial given that they never should have been created.
Read more...Housing Market Goes Nuts, Everyone Sees it, But it Can’t Last
A contrarian take on housing.
Read more...The Fed’s New Policy Framework: A Major Improvement But More Can Be Done
The Fed’s new policy strategy of average inflation targeting is an unambiguously a positive step, but may not – under all circumstances – subscribe to a sufficiently aggressive make-up strategy when the zero lower bound is binding.
Read more...Citi’s Recidivist Rule-Breaking and Incompetence Shows Persistence of Too Big/Complex to Fail Problem
Citi’s latest run-in with regulators shows why comparing big banks “too big/complex to fail” problems to those of Big Tech is all wet.
Read more...Rana Foroohar and Mark Blyth: How Deep Will the Depression Get?
Rana Roroohar and Mark Blyth discuss the elections, tech, China, and Covid v. recovery with Paul Jay.
Read more...Trump Shoots His Campaign in the Head
Trump is back to his usual self-destructive form.
Read more...Tom Ferguson: Biden Blurring Almost Everything
Political scientist Tom Ferguson juxtaposes the factions around Biden with how Roosevelt eventually stared down banks and corporatists in the second phase of the New Deal
Read more...“Savings Glut” Fables and International Trade Theory: An Autopsy
Debunking Bernanke’s pet excuse for the global financial crisis, the savings glut hypothesis, which of course exculpates the Fed.
Read more...Why International Financial Regulation Still Falls Short
Financial regulators still don’t like to tame bubbles even after seeing how costly it is when they go boom. Shame, that.
Read more...Immaculate Deception, Fed Style
The Fed knows it it is up to no good as far as ordinary citizens are concerned, witness its propaganda efforts.
Read more...Three Strikes against the Fed
Until the results of new stress tests are known, the uncertainty principle calls for extreme caution in the regulator’s approach to the capital adequacy of systemically important banks (and indeed of banks in general).
Read more...The Good, the Bad, and the Ugly About the Fed’s New Credit Allocation Policy
Why using credit as an economic remedy evenutally does more harm than good.
Read more...The Federal Government Always Money-Finances Its Spending: A Restatement
An explanation of the mechanics of Federal spending, with emphasis on the role of the Fed and Treasury.
Read more...The Bank of England Votes for More QE – But This Is a Road That Will Run Out
Yves here. Richard Murphy’s observations about QE hitting its limits are clearly relevant to the US. Sadly, things will have to get worse before ideas like a job guarantee or Green New Deal-type work schemes even get a hearing. By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian […]
Read more...