Gold has all the potential to go unprecedentedly high. But silver will be gold on
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“How does a bank collapse in 48 hours?” Asks the CNN headline. Especially a bank that reported a profit of $3.4 billion just last year. Murray Rothbard answered the question years ago in What Has Government Done To Our Money?, “No other business can be plunged into bankruptcy overnight simply because its customers decide to repossess their own property.
Here is a follow-up on last week’s chart with some excellent granular detail. Interest payments on the national debt during the current fiscal year (October to February) are up 29 percent …
Speaking to a hearing of the U.S. Senate's Appropriations Subcommittee on Financial Services and General Government, Yellen also said that the failure of a small bank or community bank could trigger runs on larger banks.
Treasury Secretary Janet Yellen is likely to face tough questions from senators about the federal response to two bank failures earlier this month.
Please consider the Summary of Economic Projections from the FOMC Meeting March 21-22, 2013.
The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain. The Committee remains highly attentive to inflation risks.
The Federal Reserve Board announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNowsm Service, to support faster payments in the United States.
Mar 22, 2023 - 12:14:53 PDT
As expected, The Federal Reserve raised their target rate (upper bound) to 5%, up 25 basis points. At the same time, Fed Reverse Repo useage soared to $2.28 trillion as banks hide from inflation. H…
Watch Live: Fed Chair Powell Attempts High-Wire Walk Between Price & Financial System StabilityMar 22, 2023 - 11:37:42 PDT
Having raised rates by 25bps (as expected) and offered a dovish bias to the statement with regard future rate-hikes, Fed Chair Powell now has the unenviable task of threading the needle between too-dovish (what does Powell know about just how bad the banking crisis really is...and what will that do to inflation) and too-hawkish (omfg, Powell's going to kill the banks to crush inflation).
A lot has changed since The Fed last met on February 1st and decided to hike 25bps. Between Powell's hawkish hearings with Congress and the dovish-inference of a global financial system crisis, the market's expectations for The Fed's actions today have swung wildly - but ironically, are basically unchanged since the Feb 1st meeting.
Fed Hikes Rates by a Quarter Percentage Point, Indicates Increases Are Near an End: CNBCMar 22, 2023 - 11:09:36 PDT
The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end.
Mar 22, 2023 - 11:07:14 PDT
The Fed has a lot of 'splaining to do, yet seems determined to keep doing the wrong thing.
Thanks to its monetary mismanagement, the Fed now finds itself in a predicament of its own making.
The biggest mistake any analyst or investor can make right now is to believe that the banking crisis is over.
On both sides of the Atlantic, central bankers have been busy putting out banking sector fires. Now they must address investors’ other major concern — how much further interest rates might rise at a time of fragile market confidence.
The Fed will close its two-day meeting Wednesday with a heavy air of uncertainty.
All eyes in the financial and economic world will be laser-focused Wednesday on the Federal Reserve as Chair Jerome Powell tries to balance his fight against inflation against a sudden banking crisis.
Just a handful of recent bank collapses … with the boost given by Janet Yellen’s recent testimony in congress … have spread shockwaves beneath the entire surface of global banking.
That’s an almost 40% difference in Defense spending, after adjusting for inflation. But is US national security 40% better than it was in 2013? Is the military 40% stronger today than it was 10 years ago?
The Fed strived for years to produce inflation with absurd QE policies. When the Fed finally got inflation, every Fed member plus Treasury Secretary Janet Yellen said inflation was transitory.