The Federal Reserve Bank

The Federal Reserve Bank is not a US governmental institution. even though most Americans think it is. This has been a fallacy perpetrated on the American people for almost 100 years now. It is independent of the US government but through some nonbinding laws is somewhat accountable to the US Congress but has never been audited or truly overseen by the Congress. The chair and board of governor's staff testify before Congress and submit a Monetary Policy Report twice a year. Independently audited financial statements and FOMC meeting minutes are public but they are only superficial to reality. In reality, it is a cabal of bankers that have had free reign to print money out of thin air for almost 100 years. They then charge the American people interest on that creation of money. Not a bad gig if you can get it.

How Bidenomics Generates More Debt and Inflation

Commentary Estimates of U.S. growth have improved, but remain massively below the Federal Reserve’s projections. After the largest monetary and fiscal stimulus in recent years, growth remains well below trend and debt is significantly higher. It is interesting to hear Treasury Secretary Janet Yellen say that “trickle-down economics did not work,” when in reality this is the failed trickle down:...

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Dollar Firm Ahead of PCE Numbers, Briefly Pokes Head Above 145 Yen

SINGAPORE/LONDON—The yen briefly weakened past the closely watched 145 per dollar level on Friday although traders’ fears of intervention by Japanese authorities kept it in check, while the dollar was also strong more broadly ahead of U.S. inflation data. Barring unexpected interventions, the day’s main event for FX markets is the U.S. personal consumption expenditure price index, which will be...

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130 Countries Are ‘Exploring’ Central Bank Digital Currencies, Report Says

Nearly two thirds of the countries in the world are now “exploring” central bank digital currencies (CBDCs) at one level or another, a new report says. The report, published on Wednesday by Washington-based think tank Atlantic Council, reveals that a total of 130 countries—representing 98 percent of global economy—are taking steps to convert their central bank money into digital form....

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Vivek Ramaswamy Sparks Excitement, Skepticism Among New Hampshire Libertarians

LANCASTER, N.H.—As its motto suggests, the “Live Free or Die” state is already pretty friendly to liberty-minded Americans—enough that the Free State Project has enticed scads of libertarians to move there. It’s also one of the few places where a critical mass of Free Staters could influence politics. The population, though fast-growing, remains low, and its state legislature is a...

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Money-Supply Slump Spells Private-Sector Recession

Commentary Allow me to explain why we have not seen a recession yet, despite the collapse in base money supply. We are witnessing the stealth nationalization of the economy. What does this mean? The entire burden of the monetary collapse and rate hikes is falling on the shoulders of families and small businesses, while large corporations and governments are virtually...

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Even Two More Rate Hikes Might Not Be the End

From the latest dot plot released by the Federal Reserve, the mode value of funds rate implies two more hikes of a quarter percent by yearend. However, careful examination shows there are more dots below the mode than above. Taking into account the dovish tone by chairman Powell, the market does not believe this and still expects only one more...

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Senate Banking Committee Passes Bill to Claw Back Bank Executive Pay

In the most significant bipartisan response since the banking turmoil this past spring, the Senate Bank Committee approved legislation to claw back compensation from bank executives after their financial institutions fail. The Recovering Executive Compensation from Unaccountable Practices (RECOUP) Act reins in the banking industry by imposing new fines for misconduct, restricting failed executives from working in the financial sector,...

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Inflation Is the Least of Our Problems

Commentary The Federal Open Market Committee’s unanimous decision on Wednesday not to raise the federal funds rate, which banks charge each other for overnight loans, has champagne corks popping in some quarters, where it is hailed as evidence of the long-in-coming conquest of inflation; while others see Federal Reserve Chairman Jerome Powell turning chicken in the face of a long-term...

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The Collapse of Silicon Valley Bank, or the Risks of Fighting Inflation – Watching America

Silicon Valley Bank, established in 1983, was the 16th largest commercial bank in the United States just before it collapsed. It provided banking services to nearly half the U.S. venture capital-backed technology and life sciences companies. SVB had benefited extraordinarily from the explosive growth of the technology sector in recent years, leveraged by very low borrowing costs and a boom...

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US Homes for Sale Fall Nearly 40 Percent Amid Tight Market Conditions

High mortgage rates and low inventory plague the housing market with prospective buyers showing high degrees of purchase reluctancy The number of homes for sale has declined from pre-COVID-19 pandemic levels, with high mortgage rates discouraging prospective sellers from putting their properties on the market, said real estate brokerage Redfin. There are now 39 percent fewer homes for sale on...

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Commercial Real Estate Forecast Mixed, Office Continues to Slide, Other Sectors Thriving: UCLA Anderson

Commercial real estate in the United States is facing uncertainty, with mixed signals from traditional economic bellwethers like housing and employment contributing to the lack of clarity, and lingering fears of recession leave the predictions open-ended, according to a recent forecast by the University of California–Los Angeles Anderson School of Business, which included estimates for no recession and mild recession....

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