He said the shortage was due to the mass business closures that prevented people from spending their coins, as well as a lack of places that are open where people can trade coins for paper bills.
One of the consequences of expansionary monetary intervention is that it distorts the relationship between financial markets and the underlying economy.
It was classic Fed "open mouth operations" as Powell tried to talk up the central bank's policies and assure everybody that everything is under control. But is it, really?
Federal Reserve Chairman Jerome Powell will appear before the Senate on Tuesday, the first of two days, to discuss the semiannual report on monetary policy.
"It is a long road. It is going to take some time," Powell said last week.
Financial writer Bill Holter says the Fed cutting bank reserves to 0% for the first time in history is a "huge deal" and a red flag for what is coming.
BlackRock, an investment manager of $7- trillion in stock and bond funds, revealed plans by the Federal Reserve for a bail out of financial institutions and corporations in August 2019, months before COVID-19 appeared and long before the public was a
The Federal Reserve's models really are the most optimistic of the bunch. With the policy meeting conducted today, no surprises as far as policies go, we now know what ferbus has to say about everything that's happened this year.
A failed financial system of central planning by The Federal Reserve is being clung to in America. It was wrong to ignore and replace the sound monetary system created by America's Founders and codified in the U.S. Constitution.
Federal support remains essential, but is best targeted toward preserving the "circular flow" of the economy by supporting the basic incomes of families and incentives for productive investment, limited to those actually experiencing economic dam
Unfortunately for the stock market president, unlike previous Mnuchin appearances, this time the market was largely oblivious to his message, and was trading near the worst levels of the session, just around 3,100.
the government is spending a lot of money it doesn't have. Deficits are exploding. The Federal Reserve is printing trillions of dollars. All to keep people employed.
We keep hearing from the Fed's defenders that the current spate of new stimulus and bailouts from the central bank are really not a big deal and are all very prudent and moderate.
President Donald Trump has predicted that the US economy will recover by 2021, citing new jobs data released by the Labor Department which contains a "misclassification error." Officials say the numbers are artificially low, and Federal Reserve C
The Federal Reserve's Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereu
The Federal Reserve has been increasing the supply of dollars at levels not seen in at least 40 years. Even the money pump during the 2008 financial crisis pales in comparison to today's central bank counterfeiting. Just as the lockdowns will produce
Who's in charge? Is The Fed responsible for 40 million unemployed? The concept of a "Deep State" may be a new one for Americans to come to grips with, but unaccountable power is as old as the hills. Liberty & sound money are the only neutralizing age
JP Morgan CEO Jaime Dimon acknowledged that the stock market is rising only because the Fed is using taxpayer dollars to save large companies. He said, "The Fed's liquidity, bringing out the bazooka, is propping up stock prices (as well as all ot
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