The last time the target rate exceeded 0.25 percent was in November of 2008 when the higher bound of the target rate was 1 percent. In December of 2008, the Fed lowered the target rate to 0.00-0.25 and it has stayed there ever since.
This decision is a major victory for Overstock CEO Patrick Byrne, who has long advocated the potential for block chain, the technology behind bitcoin, to decentralize — and revolutionize — the financial services industry.
The European Central Bank (ECB) made waves recently with its decision to lower interest rates on its deposit facility to -0.30%. That means that banks wanting to park their money at the ECB have to pay the ECB for that privilege.
Luckily for us all, Mises survived the war and went on to live a life that fundamentally altered the world. He overcame the Nazis, academic blacklists, and the personal hardships that tends to haunt any man who refuses to sacrifice his principles.
As I mention in today's Daily, one of the really exciting developments in the continued growth of the Austrian school is what is going on in Brazil.
Today, just one day prior to the announcement of the FED’s decision as to whether or not they will raise rates, the financial headlines are awash w
Students don't care about Keynes when school is out. To the extent that Mises and Hayek get a school "bump", students stay interested even when school is out.
Pew recently reported on how the homicide rate in the US has been cut in half over the past twenty years, even as gun ownership has greatly expanded in the US. The US public, meanwhile, thinks the murder rate is increasing.
In a capitalist world, socialists would be free to form their own socialist communities. They're largely free to do so now, although few do. This may be due to the fact that even the utopian version of socialism seems unpleasant.
