Does being black mean having nothing to trade politically?
Will blacks have to create an alternative device for influencing American politics? Continue reading Does being black mean having nothing to trade politically?
Category: Uncategorized
Joe Biden and the word salad that is democracy.
A short piece in Bloomberg this afternoon briefly laid out U.S. president Joe Biden’s strategy for beating possible Republican Party nominee Donald Trump in the November 2024 general election. Sharing a quote from Mr Biden’s campaign manager as cited by Bloomberg: “We are treating this election like it will determine the fate of American democracy – … Continue reading Joe Biden and the word salad that is democracy.
The Court’s role in supporting monetary policy.
At times I think that traders and bank depositors operate in sandboxes oblivious to the rest of the playground that surrounds their play area. The media offers enough noise to distract market participants from the philosophy that orders the interaction between the State, the banking system, and transactional markets. I consider banks to be the retailer of … Continue reading The Court’s role in supporting monetary policy.
What is the federal funds rate? Should the Fed worry about not meeting its mandates under law?
Today’s rates …. 30-Day Federal Funds Futures: 94.69. Effective Federal Funds Rate: 5.33%. Interest on Reserve Balances: 5.40%. Discount Window: 5.50%. CME FedWatch: 96.8%. EUR/USD=1.0931. GBP/USD=1.2594. USD/JPY=149.6608. (Foreign exchange rates as of 7:38 pm EDT.) Today’s definition … Federal funds rate-the interest rate at which depository institutions lend reserve balances to other depository institutions overnight. … Continue reading What is the federal funds rate? Should the Fed worry about not meeting its mandates under law?
Interbank market news scan: What is an exchange?
An exchange does not have the luxury of secrets. An exchange must be transparent with pricing and guard against price manipulation. An exchange has to vet its member brokers and enforce its compliance rules fairly. The exchange does not have earth’s advantage of being indiscriminate. Continue reading Interbank market news scan: What is an exchange?
Is the Federal Reserve really not needed?
The issue for me is whether the Federal Reserve is acting as a regulator of the interbank market or are banks regulating themselves, using the fed funds rate and IORB as caps and borrowing from the discount window when there is no other choice. Continue reading Is the Federal Reserve really not needed?
One Fed governor and one Fed bank president emphasize caution on rates ….
The takeaway … Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland shared with CNBC her view that while the recent consumer price index print for October 2023 was positive, the Federal Reserve System was not going to react to one data release. Inflation in October, as measured by the … Continue reading One Fed governor and one Fed bank president emphasize caution on rates ….
Crypto: If passed, how long will regulators hold back from chipping away at the Keep Your Coins Act?
The takeaway … Last week, U.S. Senator Ted Budd, Republican of North Carolina, introduced S.3229, the Keep Your Coins Act. The bill prohibits Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person’s own use, and for other purposes. Customers are allowed, under the … Continue reading Crypto: If passed, how long will regulators hold back from chipping away at the Keep Your Coins Act?
Federal Reserve’s true dual mandate: No central bank in its right mind wants to reduce inflation.
The takeaway … I like to take a common man approach to understanding what is happening at the Federal Reserve, at least I try to. We hear all the academic and political explanations for why the Federal Reserve System exists, how it came about, etcetera, etcetera. Last night during the GOP presidential primary debates held … Continue reading Federal Reserve’s true dual mandate: No central bank in its right mind wants to reduce inflation.
Lawyers Write the Bets. Bankers Sell the Bets. 