The media is saying this …. The Chicago Mercantile Exchange’s FedWatch tool has done a 180 degree turn from its 9 February 2023 consensus that the Board of Governors of the Federal Reserve System would only increase its fed funds target range by 25-basis points. The CME forecast a .908 probability of the Fed targeting … Continue reading Interbank Market News Scan: All quiet on the Federal Reserve front …
In the grand scheme , the data I am looking at is more of a snap shot, but has me asking if India plans to do the practical thing and maintain good currency relations with the U.S. and the BRICS? Continue reading Interbank Market News Scan: The Indian Rupee had been gaining strength against the US dollar over the last week.
While I believe that the FOMC will vote to raise rates, how much the rates increase by will be a decision driven by politics as it is by economics. The United States is entering the silly season of campaigning that runs up to the 2024 presidential election. As the expenditures stemming from President Biden’s infrastructure spending and financial support for Ukraine seep through the economy, the last thing the Administration wants to contend with is increased financial stress on American households. Mr Biden would prefer to see the Federal Reserve bring a pause to the inflation fight by the end of this spring, putting the pain into the past as soon as possible while crafting a narrative that places the full blame for inflation on the central bank. Continue reading Interbank Market News Scan: Hours away from Powell’s testimony, the Fed should do a one and done with the fed funds rate.
Morning thoughts … When I listen to the YouTube posse opine about the Federal Reserve’s use of its monetary policy tools, I sense the gurus lack of awareness that they are playing in a sandbox and trying to navigate in the afterburn of an airplane engine. The noise can be deafening. The clutter thicker than … Continue reading The Interbank Market News Scan: An arbitrage moment for U.S. banks
As a gun owner, I support the natural expectation of each citizen to protect themselves, including securing such protection with the use of a firearm. A legislative or constitutional fix seems like common sense, but we have to remember that we are dealing with politicians who believe they score more points scaring up votes rather than pursuing rational fixes.
Continue reading For clarity’s sake, re-write the Second Amendment or pass legislation clarifying the Amendment.
Currency derives its value from the underlying money we spoke of earlier. Currency is a promise that per one unit of this derivative we receive some portion of the underlying money. Currency not only is a derivative, it’s a bond, a promise to pay real money, but in this case, a promise that is not backed by real money. Continue reading What should your currency be backed by? Deposits of gold, silver, land, food, and knowledge.
Today the United States Supreme Court begins listening to oral arguments in a case that, depending on the decision, could change the business model of the internet. The case, Gonzalez v. Google, presents the following question: “Does section 230(c)(1) [of the Communications Decency Act] immunize interactive computer services when they make targeted recommendations of information … Continue reading Gonzalez v. Google: Why is the Supreme Court listening to this case?
Failure to see how US policy exacerbates potential damage to America’s reserve currency status is another major fail of black political leadership. The impact on black households will be negative one. Continue reading What will be the impact on Black Americans of a new BRICS reserve currency?
The main body of the Constitution is where the political factions and their representatives play; where they determine the structure of and constraints on the government. There is little to nothing that you can do about the structure and constraints of the government. There is nary a mention in the seven articles of the Constitution of the citizen or the rights the citizen may have.
Your attention should remain on making sure that the promises contained in the amendments are kept. Continue reading Using the Constitution to determine what your relationship with government is
Lawyers Write the Bets. Bankers Sell the Bets. 