30-Day Federal Funds Options (June 2023 ZQM3): 94.92 Fed Funds Target Range: 5.00-5.25% Effective Federal Funds Rate: 5.08% Interest on…
Interbank Market News Scan: Banks need a new philosophy.
The takeaway … Banking on a new philosophy. Is it time to make consumer lending by banks illegal? Yes. Consumers…
Interbank Market News Scan: The real free market is the one between commodities owners, merchants, and traders.
You would swear that America has a labor centric economic policy especially when jobs day comes around. The labor centric sentiment is fleeting. The inordinate amount of attention that is given to the Federal Reserve and monetary policy tells me its more about the financial markets and a lot less about the labor markets.
Interbank Market News Scan: What the fed funds futures market is telling me …
The Federal Reserve Discount Window rate is up to 5.25% after the Federal Open Market Committee decided yesterday to increase…
Should the American State return to mercantilism?
The takeaway: Should the State change its economic policy … The Government (the Executive and his Cabinet), with State approval,…
The political party that wins the franchise on government should always think about yield.
The takeaway: Underwrite the political management company that understands yield… A very simple model of the needs of the State…
The Community Reinvestment Act not an example of political outcome for blacks
Black politicians concerned about protecting their communities via banking should have been advocating that the Federal Reserve increase rates hard and fast. While the increase in rates would have been accompanied by a decrease in house prices, non-blacks would have thought twice about buying up black neighborhoods while black homeowners using data evincing falling values could have petitioned for lower property taxes based on those falling values.
Interbank market news scan: Rates on Treasurys continue to inch up in week prior to Fed Day
On this first impression I expect both chambers of Congress to make the supposed banking crisis less of an issue especially as we move further into the campaign season. Congress, particularly congressional Democrats, do not want to be perceived as facilitators of a worsening political economy.
Interbank market news scan: How to sell the idea of CBDCs? By paying labor at the end of the day.
The takeaway: A strategy for selling the idea of CBDCs: Paying labor by the end of the day. It is…
Alton Drew 