Just two days ago the FOMC decided once again to raise the target range for the Fed Funds rate, with Yellen expressing optimism about 2% inflation and therefore (in the Keynesian framework), the economy itself. While Dallas Fed President Robert Kaplan voted with everyone else (except Neel Kashkari) to hike rates, he today made it clear that the
With last week’s FOMC meeting over, which means Fed members are speaking once again, reflecting on the June meeting and looking forward to future decisions. Here is a breakdown of the content given by the five Fed members who appeared publicly this week so far. William Dudley New York Fed President Dudley stated that inflation, which is closer to
Here are this week’s events relating to the Fed. All times Eastern. Monday, June 26 Chicago Fed National Activity Index. 8:30am Dallas Fed Manufacturing Survey. 10:30am Tuesday, June 27 San Francisco Fed President John Willaims will speak at The Economic Association of Australia on “The Global Growth Slump: Causes and Consequences” in Sydney,
As Yellen and the rest of the Fed cohorts talk rising interest rates and balance sheet shrinkage, Trump makes it clear: the dollar is too strong. As such, he opposes the Fed’s recent efforts on interest rate policy. He likes low interest rates. This makes sense — politicians love cheap debt — though it is a sad deviation from his more critical
JP Morgan CEO Jamie Dimon and Minneapolis Fed’s Neel Kashkari recently had a bit of a clash over the health of US banks, with Kashkari rebutting Dimon’s claim that there’s no longer a risk of taxpayers having to bailout banks in a financial crisis. Bloomberg summarizes : In an essay published on Medium and republished on the Minneapolis Fed
Below is the outline for this week’s events and speeches of importance relating to the Fed and its members. Monday, April 17 Fed Vice Chair Stanley Fischer speech in New York at Columbia. The topic is “Monetary Policy Communication.” – 5:00pm Tuesday, April 18 Kansas City Fed President Esther George to speak at 26th Annual Hyman P. Minsky
Regarding the Fed’s balance sheet shrinkage narrative, one of the concerns is an unfavorable market response. The bond market (to the extent an actual market even exists) in 2013 panicked when the Fed began to taper it’s asset purchases. While many are concerned the markets could panic, Fed Vice Chair Stanley Fischer on Monday denied this as a
Dallas Fed President Robert Kaplan weighed in on the rate hike storyline Thursday, endorsing the “three rate rises” view. He also qualified it, saying that if the economy outperforms, more than three is possible; and if it is weaker, less than three is possible. Thanks Bob. He also stated that he was paying particular attention to price inflation
Below is the outline for this week’s events and speeches of importance relating to the Fed and its members. All times Eastern. Monday, April 24 Minneapolis Fed President Neel Kashkari will be speaking at UCLA in CA on opportunity and growth. – 11:30am Kashkari also has a second speech Monday, this one at Claremont College in CA. – 3:15pm
Minneapolis Fed President Neil Kashkari spoke on Monday and came out against the idea that infrastructure spending was going to lead to economic growth. No, this doesn’t mean he has been keeping up to date with David Stockman , or cracked open Mises’s Theory of Money and Credit . Rather, the Central Planner from Minnesota figures that it is
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
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