Economics

FT: “Stanley Fischer’s departure reveals weakness at the Fed”

There is an excellent analysis of Stanley Fischer’s departure from the Fed on ft.com. Some highlights: The early resignation of Stanley Fischer, the Federal Reserve board vice-chairman, is a reminder that the coming turnover in the Fed’s leadership is unprecedented in speed and scale. For all the attacks on the Fed since 2008 nothing has […]

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Banking, Regulations

NY FED: It’s Time to Rewrite the Rules of Wall Street

Regular readers of this blog know that I strongly believe that the U.S. has so far wasted the opportunity the last financial crisis gave us to reform Wall Street. Despite the chorus of voices saying that it’s time to fix the heart of the capitalist system, regulatory responses have been weak or inconsistent, and that is putting it mildly. So […]

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Banking, Economics

Is the Fed Santa or Grinch?

Continuing our Christmas theme, there’s a short piece by Amy Farber at on the NY Fed’s web page, which asks if the Fed is more like Santa or the Grinch? Because the Federal Reserve has something to do with how much money is flowing and how much consumers believe they can spend, the Fed itself […]

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Banking, Economics

SOMA: History and Analysis

The NY Fed has started an interesting series on its “System Open Market Account” (SOMA), which is basically the Fed’s open market portfolio.   As the Fed notes: Given increased interest in the Fed’s balance sheet and income, we’re writing a series of blog posts on the SOMA portfolio and the income it generates. The […]

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