But anyone could find mountains of writing economics about number crappy ideas. But the fact that Fed s QE programs were not working way Ben Bernanke envisionedby reducing average maturity of consolidated government debt mean these purchases didn do something [...]

Take my word for it though. We can get more detail on the fed funds market from New York [...]

I know there s a mountain of economics writing arguing that NGDP targeting is cat meow. Yikes. There s plenty of debate about this indicating that economists aren much better predicting technological innovations five or ten years hence than your average person [...]

A program intended to ease something was just gumming up the financial plumbing. The key problem here is that announcing policy as target range for fed funds rate starting to look silly. Further note that downward spikes in fed funds rate occurred every monthend have disappeared. What s going on While it typical to focus the margin between year Treasuries and years think useful capture very short end of yield curve well [...]

A technical adjustment of the IOER rate to level basis points below top target range could keep effective federal funds well within . The agreement won be reconsidered until but Bank is already mulling this overa process which involves economic research and consultation with public [...]

The reasoning seems to be that if productivity is going up rate of per year then nominal wage growth will cause firms increase prices about and Bank Japan achieving its inflation target. The substantial runup in net bill issuance over past few quarters along with other factors contributed notable growth securities dealers inventory of Treasury shown Figure inventories that likely required financing repo market so you can see what referring Potter claiming reason overnight rates tightened around IOER there was possibly temporary increase supply bills which increased quantity collateral available markets thus expanding credit. Baker reasoned others did at time that Carter should start talking inflation down presumably by convincing producers to forego price increases [...]

And we get sustained growth of. What should we make of this It always useful in these circumstances to remind yourself being reported. The cap on value of securities in its portfolio Fed will allow to mature is currently billion and that increase July finally . What s Going On It clear that all overnight interest rates have tightened up [...]

Canon of Simplicity. Borrowers in the fed funds markets wanted to fix up their balance sheets for monthend and lenders had find other places park overnightI assuming repo at lower rates. Sheedy What I like about this paper that it takes nominal intertemporal contracts seriously. And that s big difference from before the financial crisisthe average maturity of outstanding Treasury debt has increased considerably [...]

But. Here s the relevant paragraph Meeting participants also discussed term structure of interest rates and what flattening yield curve might signal about economic activity going forward. In precrisis times the New York Fed intervened repo market secured credit to target funds rate [...]

No one in the Fed System including guy who implements monetary policy can give convincing story about why whole target range approach still makes any sense ONRRP facility is now irrelevant and IOER overnight repo rates funds are same. According to Adam Smith good taxation policy must be convenient for the payer. I know there s a mountain of economics writing arguing that NGDP targeting is cat meow [...]

We are proud to make available wide range of our reports which published on website and upon request. My guess is that if you developed this idea in serious monetary model an optimal policy rule might look like price level targeting. But the percentile was. This principle suggests that the cost of collecting tax should be minimum so major part collections may bring to Government treasury [...]

In Canada the Bank reviews its agreement with government of every years and thinks about whether doing right thing. It basically says don think you have good argument but case please tell about . Some of that was success the Volcker disinflation and not ongoing control [...]