From Relic to Indispensable: How the Federal Reserve Nearly Gave Up Its Emergency Lending Powers in 1967
Perhaps the most shocking thing I have come across in the minutes is that the Federal Reserve very nearly got rid of its own emergency powers.
From Relic to Indispensable: How the Federal Reserve Nearly Gave Up Its Emergency Lending Powers in 1967
The Fed Should Create a Hurricane Crisis Facility
Revealed: The Federal Reserve’s Secret 1973 Plan to Bailout the Saving & Loan Industry That Very Nearly Happened
An update on my major project of the moment: launching my 30,000 page database of FOIA minutes. All of the minutes have been uploaded to my website, but generating an accessible and searchable database of these pdf files has taken significantly longer than expected. Expect the database to go
The New York Federal Reserve’s “Doomsday Book” Has Been (Partially) Revealed
Revealed: The Seven Secret Federal Reserve Books I Won Through FOIA
Paul Volcker’s Secret December 1973 Phone Call to Fed Chairman Arthur Burns Revealed
More FOIA Findings: The New Nixon Administration’s Debt Ceiling Dilemma and the Federal Reserve’s Solutions
I Got the Fed to Release its 2011 “Treasury Default” Playbook. Here’s What it Says and Why it Matters.
Subscribe Readers may recall that I wrote a Politico Op Ed at a critical moment in the debt ceiling showdown. That piece, was entitled “Biden Can Steamroll Republicans on the Debt Ceiling”, and I aimed squarely at debunking the idea that the Federal Reserve would step on any “unilateral actions”
I Was Wrong About Post-SVB Treasury Market Strains- Here’s Why
Subscribe On March 16th 2023, the Thursday after Silicon Valley Bank Failed, I published a piece entitled “What's going on with Treasuries? Silicon Valley Bank and the incoherence of the Federal Reserve's (lack of) an interest rate policy this week.” The central premise of this piece
There Are No Simple Answers in the “Greedflation” Debate: A Response to Economist Marc Lavoie
Subscribe Long time and close readers of Notes on the Crises will be aware that I’m a Modern Monetary Theory (MMT) scholar. More than three years ago now I published written remarks of a talk I gave to a Federal Credit Union which laid out my (brief) articulation of
Fitch Didn’t Downgrade The U.S.’s Credit Rating. It Downgraded its Macroeconomic Rating (and No One Should Care)
The Utopian Vision of Financial Derivatives: What Mehrling and Pozsar Have to Teach About the Future of Climate Policy
