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Thoughts From The Divide - Archive

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Posts tagged interest rates
ECB Tumult - November 5, 2019

In addition to former central bankers, there are signs that “even the staunchest defenders of negative rates are getting wary”. Central bankers are coming around to the idea that they need to work in conjunction with fiscal policy, but such cooperation could hurt their independence. Hungarian central bank governor Gyorgy Matolcsy argues that the euro is “a trap”, citing recent research on the damage done by the introduction of the euro on some member economies.

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Interest Rates Re-Examined - June 12, 2019

A number of commentators, including Warren Mosler and Jim Chanos, found fault with the monetary policy framework espoused by Ken Rogoff. They explain why central bankers have “got it backward” and why “the Fed itself” is behind some of the dynamics they are fighting.

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The Fed and Evolving QT - April 30, 2019

Following Ex-Fed Kocherlakota's call for a rate cut, WSJ's Nick Timiraos details the economic conditions that would lead current FOMC members to consider cuts. Meanwhile, yet another recent Fed paper on reserves, this time in the context of a potential repo facility, indicates that, when it comes to the level of "ample reserves", they are just "guesstimating".

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Complicated Housing & Fed Preparation - April 23, 2019

The divergence in recent housing data both across price points and between new and existing housing imply complex dynamics going on under the surface. Also, while the Fed has cooed before, an ex-Fed president has gone as far as to say that the next move should be a rate cut.

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