Quietly, on July 13, the New York Fed published a list of asset-backed loans that it had approved for eligibility in one of its emergency lending programs, the Term Asset-Backed Securities Loan Facility, otherwise known as TALF. The New York Fed stuck a smattering of small business loans and one student loan product on the […]
(Shhh! Don’t Tell Wall Street that the Fed is Tightening.) Repo Loans Hit Zero; Fed Balance Sheet Shrinks by $248 Billion in a Month…
Beginning on September 17 of last year, months before the first COVID-19 case had been discovered anywhere in the world, the Federal Reserve – for the first time since the financial crisis of 2008 – jumped into the repo loan market, where financial firms borrow from each other overnight, and began making tens of billions […]
Failed State Walking…
I love America. It’s the land of my birth, my education (Go Beav’s), my children’s births, and where I live and will eventually die. I did spend about five years living in Europe and Asia and loved it…but my home is and will be the vast expanse of the Western US. So, when I’m critical […]
Fed Expects Interest Rates to Remain Zero Through 2022, GDP to Rebound by 5% Next Year…
The Federal Reserve on Wednesday projected that interest rates will remain near zero through 2022 and pledged to continue supporting a U.S. economy devastated by the coronavirus pandemic and the related lockdowns. The Federal Open Market Committee, in a unanimous statement, reiterated previous guidance that the benchmark federal fund rate will stay at a range […]
Salaries Get Chopped for Many Americans Who Manage to Keep Jobs…
Companies across the U.S. are cutting salaries as they fight to survive the coronavirus, upending a key assumption in modern economics and raising another hurdle to rapid recovery. The hard numbers won’t be in for months, but anecdotal evidence is piling up. On earnings calls, big businesses including The Container Store Group and Lyft have […]
Evidence Suggests U.S. Financial Crisis Started on August 14, 2019…
In the Federal Reserve’s most recent “Supervision and Regulation Report” on the big bank holding companies it “supervises,” the Fed continued its attempts to perpetuate the narrative that “The banking industry came into 2020 in a healthy financial position” and has simply unraveled as a result of the COVID-19 pandemic. That narrative is built on […]
How the Wuhan Virus Bailout Gave Wall Street a No-Lose Casino …
In late April Marko Kolanovic, a financial analyst for JPMorgan Chase, wrote to clients with good news. Pandemic aside, investors should expect stock prices in S&P 500 companies to return to record numbers some time early next year! “The S&P 500 should attain previous all-time highs,” Kolanovic wrote, “if the monetary measures are sustained.” The […]
BlackRock Begins Buying Junk Bond ETFs for the Fed Today: It’s Already at Work for the Central Bank of Israel…
It’s off to the races today for BlackRock. The New York Fed, with authority from the Federal Reserve Board and backstopped with taxpayers’ money, will begin the first phase of the Fed’s unprecedented leap into shoring up the sagging prices of investment grade corporate debt and junk bonds. BlackRock has been selected by the New […]
Fed Chair Powell Has Upwards of $11.6 Million Invested with BlackRock, the Firm that Will Manage a $750 Billion Corporate Bond Bailout Program for the Fed…
Most Americans likely assume that Jerome Powell, the Chairman of the Federal Reserve, is an economist, like the prior chairs of the Fed over the past 40 years. He’s not. Powell is a former investment banker at the Wall Street firm, Dillon Read; a former partner at the controversial private equity and leveraged buyout firm, […]
The Fed Is Propping Up Companies It Had Warned Banks Not to Touch…
For years, the Federal Reserve warned that too many highly risky companies were engaging in fuzzy accounting that bumped up their earnings — making it easier for them to obtain loans. The practice was driving up corporate debt to excessive and worrisome levels, regulators chastised. But now, in its latest effort to keep credit flowing, […]
- « Previous Page
- 1
- …
- 25
- 26
- 27
- 28
- 29
- …
- 49
- Next Page »