bank reserves

4 min read 2021-02-05 07:36:58

Even The People ‘Printing’ The ‘Money’ Aren’t Seeing It

Everyone in Europe has long forgotten about what was going on there before COVID. First, an economy that had been stuck two years within a

8 min read 2021-02-02 05:48:09

There are those people who will remain convinced forever forward that the Federal Reserve is run by capable technocrats absolutely skilled at

7 min read 2021-01-30 05:54:37

There are those people who will remain convinced forever forward that the Federal Reserve is run by evil geniuses absolutely intent upon robbing the

6 min read 2021-01-26 05:59:44

The Chinese erstwhile dictator Xi Jinping asked the Davos gathering of the superrich, can’t we all just get along? More than a weird juxtaposition,

4 min read 2021-01-21 07:23:52

Sticking with Europe, central bankers want and expect higher inflation because that would confirm an economy strong enough – and monetarily

6 min read 2021-01-21 05:16:50

The ECB wants everyone to know that it is in control, and therefore has everything under control. Through an almost certainly carefully placed leak,

6 min read 2021-01-14 05:45:21

One of the concepts educators sort of snuck into the curriculum was something they called “moral suasion.” This term has meanings outside of

6 min read 2020-12-24 04:15:01

The people who believe they are the Federal Reserve’s biggest critics are actually Jay Powell’s most vocal supporters right now. Rather than

10 min read 2020-12-23 05:40:24

Lehman Brothers was a cultural marker, the kind of thing that sticks for generations because of all the wrong reasons. Hardly anyone had heard of the

5 min read 2020-12-12 05:42:38

It’s been said that you can’t please everyone all the time. But can you fool enough people some of the time? That’s Jay Powell’s game in a

6 min read 2020-11-04 05:26:49

With all eyes on Washington DC, today, everyone should instead be focused on Europe. As we’ve written for nearly three years now, for nearly three

6 min read 2020-10-29 03:31:47

Physical cash vs. bank reserves. Quality growth vs. quantity. Xi Jinping vs. everyone not onboard with Xi Jinping. All three contests are actually

5 min read 2020-10-17 06:22:47

Who would’ve ever guessed? Jay Powell flooded the world with dollars, “overseas” swaps and all, but more and more you get the impression he

14 min read 2020-09-24 05:04:41

Working with my colleague Joe Calhoun (mostly him), we’ve come up with what we think is a list of questions that quite naturally arise from this

13 min read 2020-09-22 06:26:18

What the hell is a bank reserve? Is it money? Since its very creation is a byproduct of concerted central bank action, the thing sure sounds like it