Tag: Federal Reserve System

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Interbank market news scan: Is the U.S. House task force on monetary policy more political than monetary?

U.S. Representative French Hill, Republican of Arkansas and chairman of the U.S. House Committee on Financial Services, announced earlier this week the formation of the Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force. According to Mr. Hill’s statement: “The Committee’s new Task Force will conduct hearings looking into issues relating to monetary policy, … Continue reading Interbank market news scan: Is the U.S. House task force on monetary policy more political than monetary?

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The 119th Congress takes its seat tomorrow as the dollar continues to strengthen.

The GOP-controlled 119th Congress will take its seat around noon tomorrow. Over in the House chamber, there will be a vote for the Speaker of the House. Meanwhile, results from the Pan-European Manufacturing Purchasing Managers Index demonstrates the danger of making a five day call on where the EUR/USD may end up at week’s end. … Continue reading The 119th Congress takes its seat tomorrow as the dollar continues to strengthen.

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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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Prop Trader News Scan as of 10:05 am EST; Federal Reserve considers banking system “resilient.”

Reference rates per Board of Governors-Federal Reserve System Interest on Reserve Balances: 5.40% Discount Window Rate: 5.50% Effective Federal Funds Rate: 5.33% Foreign Exchange Rates reported by Board of Governors-Federal Reserve System AUD/USD=0.6607 NZD/USD=0.6020 USD/JPY=155.8500 GBP/USD=1.2528 EUR/USD=1.0773 USD/CAD=1.3663 USD/MXN=16.7650 Barr’s testimony before House financial services committee nothing to write home about … In his testimony … Continue reading Prop Trader News Scan as of 10:05 am EST; Federal Reserve considers banking system “resilient.”

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Is it time for the Federal Reserve to raise the federal funds rate?

The world has risk-laden problems to solve. Higher borrowing rates are indicia of higher risks to returns on capital, but the cries for lower rates do not appear to resonate with capital’s search for high returns that compensate for higher risks. If the Federal Reserve System is to meet its statutory dual mandate of stable … Continue reading Is it time for the Federal Reserve to raise the federal funds rate?

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Foreign exchange rates for the Eastern Caribbean as of 9:10 am AST

Federal Reserve Bank of New York-Central Bank of the U.S. Virgin Islands AUD/USD=0.6423 GBP/USD=1.2397 EUR/USD=1.0655 JPY/USD=0.0065 Eastern Caribbean Central Bank USD/XCD=2.7000 GBP/XCD=3.3679 CAD/XCD=1.9626 EUR/XCD=2.8833 JPY/XCD=0.0175 Central Bank of Barbados USD/BBD=1.9800 GBP/BBD=2.4209 CAD/BBD=1.4417 EUR/BBD=2.0879 Central Bank of Trinidad and Tobago USD/TTD=6.7042 GBP/TTD=8.4069 CAD/TTD=4.9077 EUR/TTD=7.6692 Bank of Guyana USD/GYD=207.98 GBP/GYD=256.02 CAD/GYD=151.41 EUR/GYD=221.04 Sources: Board of Governors-Federal Reserve … Continue reading Foreign exchange rates for the Eastern Caribbean as of 9:10 am AST