Update 198 –- Musical Fed Board Chairs Post-Wyoming, All Over But the Yellen? Fed Chair Janet Yellen delivered remarks on the state of financial stability on Friday in Jackson Hole, Wyoming at the Fed’s renown annual economic policy symposium. Ten years after the onset of the Great Recession, the Chair took the opportunity to reflect on the impact of the Dodd-Frank …
Update 184 — Yellen Stays the Course; The Fed in Search of the New Normal The Fed’s broadly anticipated 25 basis point increase in the Fed funds rate announced this afternoon represents a continuation of its once-a-quarter pace of “normalization policy” implementation. Janet Yellen has adhered to the policy since her installment as Fed Chair …
Update 169 — The Fed Rate Debate Does Political Risk Deserve Any Weight? As you probably know, the Federal Reserve announcement tomorrow afternoon is expected to confirm an all-but-promised 0.25 percent interest rate increase. On what basis is Fed acting in this instance? What is the role of the economy, the markets, and politics in its rate …
The year is winding down slowly and it effectively came to an end today for monetary policy. For years, the Fed pursued an unprecedented policy of accommodation almost out of necessity while a gridlocked Congress declined to fight the recession with fiscal policy tools. Now that a full-scale economic recovery (measured by jobs, not wages …
Mike & Co., Millions of Americans have been waiting for this, argued and agreed with family and friends, made up their minds, and are ready, at long last, for the outcome — of Game 7, the Cubs representing the Secretary’s original home state and Cleveland, representing a key battleground state. I can tell you what the …
Mike & Co. Usually, the annual Jackson Hole, WY economic summit, a Davos for central bankers, focuses on examinations and assessments of monetary policy. And there will be plenty of that this week. But this year, institutional introspection will be prominent on the agenda. The Federal Reserve has been under increasing pressure regarding governance …
Mike & Co., With the President on vacation on Martha’s Vineyard and Members of Congress back in their respective states and districts, the relative silence in Washington was barely broken yesterday when the Federal Reserve released the minutes of its July meeting of the Federal Open Market Committee. The Committee showed divisions over whether to increase interest rates in …
Mike & Co., This afternoon, the Fed announced that it would yet again defer a rate hike. The vote was unanimous. May’s dismal job report put an end to speculation that the Fed might raise rates during its June 14-15 meeting. Despite this delay, Fed watchers still expect that the current policy guidance, which predicts …
Fed's Non-move and 2016 Forward Calendar (June 15) Read More »
Mike & Co. — During the lull on the Hill with the Senate in recess this week, attention shifted to the regulatory front, with two agencies making news with major proposed rules addressing issues at opposites ends of the financial industry spectrum. On Tuesday, the Fed issued the long-awaited rule on the treatment of qualified …
Mike & Co., Two weeks after the MetLife decision was handed down, here come the Fed/FDIC living will findings that half of the nation’s eight SIFI banks failed to submit “credible” plans. The main policy takeaways from two developments appear at first blush to diverge sharply. MetLife restricts the authority of the USG (or …
