The Ghosts of Failed Banks Have Returned by Alasdair Macleod

The Ghosts of Failed Banks Have Returned by Alasdair Macleod

Oct 15, 2019 | News

Recently, something unusual happened: instead of the more normal reverse repurchase agreements, the Fed escalated its repurchase agreements (repos). For the avoidance of doubt, a reverse repo by the Fed involves the Fed borrowing money from commercial banks, secured...
Money Printing Can’t Replace Saving

Money Printing Can’t Replace Saving

Aug 19, 2019 | News

There are some signs that the pace of US economic activity is starting to slow down. For instance, the yearly growth rate of industrial production, which closed at 5.4% in September 2018, fell to 1.3% by June this year (see chart). In addition, the annual growth rate...