The decision of the Federal Reserve Board (this is not the Federal Reserve Open Market Committee that decides on monetary policy) to increase the discount rate (it calls it the ‘primary credit rate’) by 25 basis points to 0.75% and to reduce the maximum maturity of the borrowing at the discount window to just a [...]
New York Times had this painful article about how job openings for workers are shrinking. It made me do a chart of job openings/pool of unemployed workers in the US. The ratio was 0.16. There is only one job opening per six unemployed worker. I wonder if the Federal Reserve acknowledges its role in bringing [...]
On the flight back from Zurich to Singapore, I caught up with Paul Volcker’s statement to the Banking Services Committee of the U.S. Congress (House of Representatives). The full statement is here. He raises some uncomfortable questions:
However well justified in terms of dealing with the extreme threats to the financial system in the midst of [...]
Bare Talk at Mint
Recent Comments