Shadow Fed Chair — and Powell’s nuclear option to counter it
President Trump's plan to install a "Shadow Chair" months before Jerome Powell's term ends will definitely reshape US monetary policy — but it could face a surprising challenge from Powell himself.
September FOMC Meeting: The Potential Dissenters
The Federal Reserve is expected to cut its benchmark interest rate by 25 basis points this week. This has been the baseline market assumption since Chairman Jerome Powell's speech at Jackson Hole, in which he proclaimed, “the shifting balance of risks may warrant adjusting our policy stance."
The question is, how many dissenting votes will Powell face in this meeting?
Media Sentiment and International Asset Prices
A new working paper from the IMF which tries to assess the impact of media sentiment on equity markets.
Integrating Psychology with Economics | Q&A with Hersh Shefrin & Shlomo Benartzi
In celebration of Richard Thaler's prize lecture for his 2017 Nobel prize, we interviewed two of his best co-authors -- Hersh Shefrin and Shlomo Benartzi -- to discuss the future of behavioral economics.
Nonbank Lending
In their recent working paper "Nonbank Lending", economists Sergey Chernenko, Isil Erel, and Robert Prilmeier provided an insightful overview of the sources and terms of private debt financing during the post-crisis period.
Why the Fed announces “not-QE” Treasuries purchase program?
Federal Reserve announced yesterday that it will start purchasing Treasury bills from Oct 15 (Tuesday) until at least the second quarter of next year.
What is Neo-Fisherian and FTPL? | Q&A with John Cochrane |
Cochrane discusses with us his view on the development in Macroeconomics since the Great Depression. He also explains what Neo-Fisherian and Fiscal Theory of Price Level are, and why they are important for understanding the current economic situation around the world.
Interview with Paul Romer on large scale Covid testing – Transcript
Edited transcript of our interview with Paul Romer, on why the US urgently to scale up testing for Covid-19 and why he thinks the covid-crisis amounts an intellectual failure
How to use the Fed’s FIMA Repo — the case of Hong Kong
Hong Kong Monetary Authority, the de facto central bank of Hong Kong, announced on April 22 that it will utilize the Fed's FIMA Repo facility to borrow USD 10 billion of cash.
The Fed’s Interest Rate Policy Regime – Corridor System or Floor System
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?
