When President Trump decided to nominate Jay Powell instead of Janet Yellen to be the next Federal Reserve Chair, my mind was full of interesting questions on how this decision impacts the institution of the Fed. In my opinion, one of the best experts to answer my question would be Peter Conti-Brown, assistant professor at The Wharton School of the University of Pennsylvania and author of one of the best book about the institution of Fed --- "The Power and Independence of the Federal Reserve".
The Fed has changed it interest rate policy regime since 2008, from the so-called Corridor system, to the Floor system it is using right now. What is the different?
Raghuram Rajan, former Governer of Reserve Bank of India and now Professor of Finance at Chicago Booth, visited Hong Kong and gave a keynote speech in Asian Financial Forum last week. I am lucky...
Federal Reserve announced yesterday that it will start purchasing Treasury bills from Oct 15 (Tuesday) until at least the second quarter of next year.
The faster the credit growth, the worse it is for real growth (output per worker). This is what Stephen G. Cecchetti and Enisse Kharroubi want to explain in their NBER working paper "Why Does Credit Growth Crowd Out Real Economic Growth?"