Category Archives: Federal Reserve

Debt Ceiling Arm Wrestling Targets Ukraine Spending

The upcoming debt ceiling fight has an unusual feature: Republican opposition to military pork, or at least the Ukraine variety.

Google’s Stock Climbed After It Fired 12,000 Employees—But What Did They Get Out of It?

Tech companeis laying off tens of thousands of employees, underscoring their fixation on short-term performance metrics.

Crypto-Focused Silvergate Bank Got De Facto Backdoor FDIC Bailout via $4.3 Billion Federal Home Loan Bank Advance

More crypto chicanery! How crypto-focused bank Silvergate got a very big ticket rescue from a quasii-government mortgage banker’s bank.

The Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy

A new analysis finds our inflation comes first from Covid/sanctions supply shocks and second, spending by the rich, not government spending.

Stocks Open Eyes, See Fed Pivot Hawkish; ECB Hike into Recession, Start QT; BoE Hike into Recession; SNB Hike, Sell Foreign Currency Assets

ECB’s assets drop by €800 billion. Mexico hiked too today, way ahead of the Fed, keeps peso from falling against USD.

Dethroning the Dollar: Why the Alternatives Are Not Ready for Prime Time

Why the dollar’s demise is not around the corner.

The Jobs Report in Light of what Powell Said: The Fed Cannot Create Supply of Labor, But it Can Slow the Demand for Labor

Higher interest rates, for longer.

“Jobs Are Up! Wages Are Up! So Why Am I as an Economist so Gloomy?”

Since the Fed can’t get more workers into the workplace but thinks it’s in charge of inflation, it will kill jobs with rate hikes.

Michael Hudson Answers Questions on Europe’s Self-Immolation, Fed’s Malpractice, Changing World Order

Michael Hudson covers a wide range of topics, including the decline of Europe, the Fed’s mismanagement, the rise of new economic blocs

You’re Living in a World Wrought by Central Banks. Notice Anything Wrong?

Nomi Prins warns that central banks’ strategies are destroying the real economy, worsening inequality, and creating societal chaos.

Collateral Damage From Higher Interest Rates

Why to be wary of Larry Summers selling another Volcker-type “kill the economy to save it” interest rate jihad.

Stop Worshiping Central Banks

Preoccupied with ‘credibility’ and reputations, central banks are again driving the world into recession, financial turmoil and debt crises.

The Sveriges Riksbank Counterfeit Nobel Award Goes to Bernanke et al. for the Wrong Model

Diamond-Dybvig-Bernanke is a flawed model of banking that has no room for a lender of last resort

Is the UK About to Hit the Wall?

The UK is in sorry shape…..and is looking like the canary in the economic coal mine.

Bank of England Bought Only Small Amounts of Bonds Even Today, Warns Pension Funds They Have “Only Three Days Left” to Unwind Derivatives with BOE Support

The Bank of England has been doing less than believed to rescue the gilts market. But stil not a good look.