The latest quarterly filing statement of the Swiss National Bank (SNB) has been issued. Switzerland’s publicly traded central bank had a decrease in the value of its US stock holdings by around $5 billion in Q3 of 2021, ending the quarter with a value of $157 billion . SNB currently has a profit of over $40 billion for the 9 months ended in the
Any day now President Biden will nominate his choice candidate for the role of Chair of the Federal Reserve. If Jerome Powell doesn’t get reappointed then Biden will likely go with progressive Democrat Lael Brainard. Everyone has a take, some more opinionated than others. The editorial board of the Wall Street Journal made no attempt to soften
This Thanksgiving, may you never forget the words of the United States of America’s Vice-President Kamala Harris, as reported by Fox News : Prices have gone up and families and individuals are dealing with the realities of the bread costs more, the gas costs more, and have to understand what that means. Excusing her grammatical errors, she’s
It’s called the troika . It sounds like communism. It looks like communism. But is it true communism ? Wall Street Journal explains: The Fed’s vice chair, along with the New York Fed president, is part of the inner circle of advisers—known as the troika—that shape the agenda for monetary-policy deliberations by the Fed’s rate-setting committee.
All great narratives must come to an end. No one can predict whether the transitory inflation narrative will ever return. But for now, the Federal Reserve and Treasury have officially retired its banner slogan. Yesterday the New York Times reported Treasury secretary Janet Yellen saying: I am ready to retire the word transitory I can agree that
Everyone is blaming Jerome Powell for something these days, like the stock market selloff that followed the Fed Chair’s testimony to Congress this week. But do these critiques suffer from a lack of depth? On Wednesday, Fortune published an article showing how mainstream academics view the Fed. Various quotes foreshadow what the general public is
What a weekend! On Sunday morning Treasury Secretary Janet Yellen told CBS there would be no bailouts. Later that day the Fed declared Quantitative Easing to infinity and beyond. What’s going on? Quite simply: the Fed is willing to overpay for debt (again). They call it the Bank Term Funding Program (BTFP), and as far as one can tell, its dollar
A few days from now marks the one-year anniversary of the article: Will You Buy the Dip? It was there I told everyone I know that eventually the Federal Reserve will conclude its Quantitative Tightening (QT), and a new round of Quantitative Easing (QE) would emerge. This was both inherent and inevitable due to the inflationary nature of central
After raising rates by 25-bps on Wednesday, in addition to lending $300 billion to bankrupt institutions last week, Federal Reserve Chair Jerome Powell reassures the public that the banking system is “sound and resilient” to quell concerns over recent bank failures. Reiterating : In addition, we are committed to learning the lessons from this
Leave it to the Federal Reserve to throw a knuckleball when the batter is expecting a fastball. These last few weeks have been just that, with the Fed saying nothing of abandoning their Quantitative Tightening (QT) position while engaging in what appears to be a Quantitative Easing (QE) position. The general public may be familiar with the term
What is the Mises Institute?
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.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.