Big Wall Street firms like Goldman and Morgan Stanley offer “dog ate my homework” excuses for failure to comply with the Volcker Rule.
Read more...It been remarkable to witness the casual way in which central banks have plunged into negative interest rate terrain, based on questionable models. Now that this experiment isn’t working out so well, the response comes troubling close to, “Well, they work in theory, so we just need to do more or wait longer to see […]
Read more...Insurers are going long risk at one of the worst possible junctures.
Read more...A skeptical look at unconventional monetary policies: quantitative easing, ZIRP, and negative interest rates.
Read more...Why the “new normal” is a sign that capitalism is running out of options.
Read more...Bagehot outlined some of the requirements for global money. Are we closer to a solution?
Read more...A short take on the Fed’s recent antics.
Read more...Last week’s job report was not only disconcerting in and of itself, but it also bodes ill for labor market prospects.
Read more...Does helicopter money come with a hidden price tag?
Read more...Yves here. In a bit of synchronicity, this post continues the theme of Dipherio’s podcast over the weekend on NAIRU, describing how other central banks around the world look at the issue of what inflation rate to try to achieve and why. I’m a little surprised that Epstein did not mention how the Fed kept […]
Read more...An explanation of NAIRU for novices, as well as a discussion of its politics.
Read more...Like the Bourbons, the Clintons appear to have learned nothing and forgotten nothing.
Read more...Why a proposal to “stay” derivatives termination in the event of bank bankruptcy is inconsequential and avoids bigger questions about the use of derivatives and failure to rein in risks in this market.
Read more...An interview on inflation targeting and its implications.
Read more...Private equity investors are throwing caution to the wind as even more money chases funds.
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