Monetary Policy
How have the markets responded to congressional testimony from recent Fed chairs? Have they shown a preference or distaste for any one in particular?
“I'm not saying that interest rates are going to go back up. I just think they're done coming down,” Howard Marks, CFA, told Marg Franklin, CFA. "And if that's true, I think we're in a different environment."
Should governments ever decide to start deleveraging, how could they do it?
To be “as rich as an Argentine” was once a common aspiration. What happened?
Is there evidence of an ECB put in European credit markets?
There is reason to be cautious about the nascent yen rally.
Recent market volatility has been driven by speculation about what the Fed will do next.
The FTX fiasco has more to do with fractional reserve banking than it does with crypto.
“It is difficult not to marvel at the imagination which was implicit in this gargantuan insanity. If there must be madness something may be said for having it on a heroic scale.” -- John Kenneth Galbraith
The impact of Fed policy on the global financial system is yet another feature of the COVID-19 pandemic that caught investors off guard.