In what could have been a relatively quiet post-inauguration week, a breathtaking story of David vs. Goliath played out on the world stage, turning financial markets upside down and wreaking havoc on Wall Street. But let’s start from the beginning. Ear…
It’s a reverse Hotel California. You can leave, but you can never check in.
Today’s Fed QE
While social spending as a share of GDP has generally declined in OECD countries over the past ten years, France remains the country which is most generous in terms of its social benefits. In 2019, the equivalent of almost a third of French GDP was spe…
The story is barely believable but Main Street has, temporarily at least, managed to turn the tables on Wall Street. Hedge funds have had to cut their losses after a group of amateur traders came together to push up shares in GameStop. The action taken…
He who shorts what isn’t his’n must buy it back or go to prison.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
The new Biden administration has promised to explore progressive policies directed at undocumented immigrants in the U.S. Perhaps one of the president’s boldest plans is to implement a path to citizenship for the roughly 11 million undocumented immigra…
In light of the sustained smooth functioning of short-term U.S. dollar funding markets and consistent with the most recent FOMC directive, the Open Market Trading Desk at the Federal Reserve Bank of New York will no longer offer regularly-scheduled one…
With tens of millions of people losing their jobs or seeing their working hours reduced due to the COVID-19 pandemic, the ongoing crisis has disrupted labor markets around the world at an unprecedented scale.According to the latest edition of the ILO M…