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“STOCK MARKET UP ANOTHER 300 POINTS,” Trump tweeted on October 12, with characteristic overcapitalization. “GREATEST LEADING INDICATOR OF THEM ALL!!!” President Trump’s use of the stock market as an economic indicator is hardly unusual.
Tuesday’s speech by Fed Chair Jerome Powell began with the usual nod to the pandemic for making life difficult for the masses, followed by the various pats on the back for the central bankers and what they have done in fighting the problems caused by COVID.
Printing Money at a "Constant" or "Stable" Rate Won't Prevent Boom-Bust CyclesOct 19, 2020 - 10:10:39 PDT
According to Milton Friedman, the key cause of the business cycles is the fluctuations in the growth rate of money supply.
With interest rates in the US falling to nearly zero, the fate of underfunded public pensions has only gotten worse.
Worst Recovery Ever: To Soothe Investor Pain, Gov Agency TSA Hypes Airline Stocks in PR StuntOct 19, 2020 - 10:01:24 PDT
What the TSA said in its PR stunt and what it forgot to say.
Bill Miller Says the Fed’s New Inflation Policy Is the Most Important Market Event in 40 YearsOct 19, 2020 - 09:39:49 PDT
CNBC Pro: The Federal Reserve's new approach to inflation is the most important thing to happen to financial markets since the 1980s, investing legend Bill Miller told clients.
Fed Clarida, No. 2 Official, Easy Monetary Policy & More Government Spending Needed: WSJOct 19, 2020 - 09:04:26 PDT
A top Federal Reserve official said Monday the U.S. economy could stage a faster recovery from the coronavirus-induced recession than it did following the 2008 global financial crisis.
Federal Reserve Vice Chair for Supervision Randal Quarles said the quiet part out loud.Quarles, who typically centers his remarks on topics like the health of the U.S. banking system and the transition away from the London interbank offered rate, made surprisingly candid comments...
Money managers in Asia are deploying a range of traditional and unconventional strategies to cushion any losses as they brace for turbulence in the lead-up and aftermath of the U.S. presidential election.Chinese equities feature high in some recommendations on expectations the vote will...
Central Bank Digital Cash Could Raise Pressure for “Currency Substitution”: IMFOct 19, 2020 - 08:24:49 PDT
Central bank digital cash could see foreign currencies displace domestic money in national economies, with adoption of the tech also potentially boosting illicit capital flows without proper safeguards, the International Monetary Fund said on Monday. Central banks around the world began looking closely...
Major central banks around the globe might be engaged in a manic policy of monetary and public debt INflation, but DEflation is growing. This week, banks are reporting that corporate loan demand and personal credit card use are declining, and savings rates remain high. A declining social mood appears to be fueling private debt deflation. But it’s price deflation that is grabbing attention at the moment as more countries slide into declining consumer prices.
Gold & Silver have a technical setup showing downside potential in the weeks ahead. The good news is a steep selloff would lead to an excellent entry point...
“They are increasingly on what I call a no-exit paradigm,” Allianz SE chief economic adviser and Bloomberg Opinion columnist Mohamed El-Erian said on a panel discussion last week.
The U.S. needs to provide further aid to unemployed workers and to state and local governments to support the recovery amid the virus-induced slump, former Federal Reserve Chair Janet Yellen said.“While the pandemic is still seriously affecting the economy, we need to continue extraordinary...
Powell: Fed Open to Private Sector Collaboration in Possible Digital DollarOct 19, 2020 - 07:51:09 PDT
Fed Chair Jerome Powell said the Fed is continuing to research a digital dollar but reiterated that the Fed has not committed to actually launching one.
Watch Fed Chair Jerome Powell speak live to the International Monetary FundOct 19, 2020 - 07:49:52 PDT
Powell's remarks are part of a session on "Cross-Border Payments and Digital Currencies."
There is a particular lesson that history regularly teaches, yet the public never actually learns. The lesson is simple. When a) the government – or since 1913 the Federal Reserve – insists on making money cheap by aggressively suppressing interest rates...
Neel Kashkari says he doesn't see any moral hazard with respect to the Fed's massive liquidity injections. The rise in "zombie" companies argues otherwise.
Longtime viewers have noted that Mike has spoken for years of an upcoming ‘emergency meeting of the G20 countries about the reserve status of the US dollar’, and would like to know how much longer Mike thinks it will be before this meeting takes place. Join Mike and Jeff Clark in today’s video as they explore some potential scenarios, and whether gold will be involved in a new world monetary system.
The fiscal 2020 budget shortfall totaled $3.13 trillion as Uncle Sam added another $124.6 billion to the deficit in September, according to the latest Monthly Treasury Statement.That more than doubles the previous record deficit of $1.4 trillion set in 2009 at the height of the Great Recession.