Category: Federal Reserve System

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In the immediate term, the next president will have to think about who the next Fed chair will be.

It is tough to nail down Ms. Harris’ view on the currency and interest rates since Mr. Biden’s announcement three days ago that he was discontinuing his campaign for a second term. So far, her outreach efforts have included a couple speeches to black sororities, a meet and greet with her campaign staff in Wilmington, … Continue reading In the immediate term, the next president will have to think about who the next Fed chair will be.

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Does the Federal Reserve need better listening tools?

I just read through opening remarks by Governor Michelle W, Bowman, a member of the Board of Governors of the Federal Reserve System, delivered today during a Fed Listens event in Chicago. Fed Listens is an initiative through which policy makers engage community stakeholders in order to determine how monetary policy is impacting the lives … Continue reading Does the Federal Reserve need better listening tools?

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Senate hearings on Federal Reserve monetary policy: Warnock surprised me today.

U.S. Senator Raphael Warnock, Democrat of Georgia, used his time during today’s U.S. Senate Committee on Banking, Housing and Urban Affairs hearing on monetary policy to tie the problem of affordable housing in Georgia to Federal Reserve System rate setting. Jerome Powell, chairman of the Board of Governors of the Federal Reserve System pointed out … Continue reading Senate hearings on Federal Reserve monetary policy: Warnock surprised me today.

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My quick email to Nikema Williams, Raphael Warnock, and David Scott regarding Powell’s upcoming testimony.

This morning, I sent U.S. Senator Raphael Warnock and U.S. Representatives Nikema Williams and David Scott an email message about Federal Reserve chairman Jerome Powell’s upcoming testimony to Congress. He appears tomorrow before the U.S. Senate Committee on Banking, Housing and Urban Affairs and on Wednesday before the U.S. House Committee on Financial Services. “Looking … Continue reading My quick email to Nikema Williams, Raphael Warnock, and David Scott regarding Powell’s upcoming testimony.

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Nationalist versus globalist. An activist investor treatment of government.

Time Range Change in Money Supply Change in Personal Consumption Expenditure Change in Effective Federal Funds Rate January 2023 to January 2024 +9.66% +2.5% +23.09% February 2023 to February 2024 +10.81% +2.5% +16.63% March 2023 to March 2024 +5.59% +2.7% +10.35% April 2023 to April 2024 +3.26% +2.7% +10.35% May 2023 to May 2024 +2.79% … Continue reading Nationalist versus globalist. An activist investor treatment of government.

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Interbank market news scan: Kugler continues the Fed Speak on inflation.

Today, Federal Reserve System governor Adriana D. Kugler reiterated in remarks what we have been hearing from other Federal Reserve Board members: that inflation is still too high, even given the progress on lowering it. Governor Kugler pointed out that inflation is moving down slowly and that easing rates is possible later this year. Like … Continue reading Interbank market news scan: Kugler continues the Fed Speak on inflation.

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Retail foreign exchange dealer news scan: Federal Reserve administered and referenced rates as of 8:00 pm EST.

Effective Federal Funds Rate: 5.33% Overnight Bank Funding Rate: 5.32% Secured Overnight Financing Rate: 5.31% Broad General Collateral Rate: 5.30% Tri-Party General Collateral Rate: 5.30% Interest on Reserve Balances: 5.40% Discount Window: 5.50% EUR/USD=7.8118 USD/JPY=157.2800 GBP/USD=1.2685 AUD/USD=0.6617 Sources: Board of Governors-Federal Reserve System. Federal Reserve Bank of New York. Continue reading Retail foreign exchange dealer news scan: Federal Reserve administered and referenced rates as of 8:00 pm EST.