In case you missed it, former Federal Reserve Chair Ben Bernanke won this year’s Nobel Prize in economics. He was victorious for his “research” work in the 1980s and his role in fueling, er, fighting the Great Recession. But it goes to show that the Nobel committee is comprised of statists who will only award […]
Federal Reserve
Recession? Manufacturing PMI slips, construction spending falls
It was bad news for the U.S. economy on Monday, which turned out to be good news for the financial markets. The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) weakened to 50.9 in September, surprising everyone as economists anticipated a reading of 52.2. This is down from 52.8 in August. The monthly […]
Federal Reserve’s money-supply growth trending sideways
Celebrated economist Steven Hanke recently warned that 0% money supply growth will trigger a recession in 2023. But the Federal Reserve’s money supply growth has not declined. Instead, it has trended sideways this year, with some weeks showing considerable growth. But, overall, money supply expansion is not what it was even a year ago. Here […]
A look at the state of global central banks’ monetary policy
The Federal Reserve raised interest rates by 75 basis points on Wednesday. Everyone else pretty much followed the same playbook, except for Turkey, which cut interest rates by 100 basis points to 12%, despite 80% inflation. So, here is a chart that summarizes the state of central banks’ monetary policy, courtesy of Charlie Bilello:
Watch Jerome Powell’s post-FOMC press conference
Following the Federal Reserve’s decision to raise interest rates by 75 basis points, Chair Jerome Powell will hold a press conference to discuss the Federal Open Market Committee’s (FOMC) rate hike, current economic conditions, future monetary policy, and other related developments. Here is the live feed: https://www.youtube.com/watch?v=ukFnKCtptX4