Since 2004, twenty large federal agencies have admitted to disbursing an astonishing $2.25 trillion in improper payments. Last year, these improper payments totaled $175 billion – that's about $15 billion per month, $500 million per day, and $1 m
One of the most poignant (and painful to some) lessons of the past decade - especially to contrarian, bearish investors such as Odey and Horseman - is that the Fed can keep print money far longer than any short can remain solvent.
Illinois has announced $2 billion more in additional borrowing from the Federal Reserve Bank's Municipal Liquidity Facility (MLF). Gov. J.B. Pritzker has informed the Fed of the state's intention to borrow the funds before the facility expires at
We're approaching all-out market mania with optimism about a COVID vaccine and the ensuing economic renaissance that many seem convinced is right around the corner. On Tuesday (Nov. 24) the Dow Jones closed about 30,000 for the first time.
While various Fed speakers are vowing this week that there will be no rate hikes until at least 2023 or 2024, the Fed may be surprised to learn that if it were to broaden its definition of inflation, it would find it is quite ample already.
Increasing speculation about possible further monetary policy measures by the Fed is holding down US treasury yields. Despite the improving outlook for Covid-19 vaccines the virus is resurging and we still have to bridge the period until vaccination
One certainly can't blame the Fed for not doing enough to stabilize markets during the covid crisis: having expanded its balance sheet by over $3 trillion this year alone and injecting $120 billion in liquidity every month, ....
20 million Americans are collecting unemployment, and Joe Biden wants a nationwide lockdown to battle a virus that has a 99+% survival rate. There is one immoral and unconstitutional institution that enables this kind of authoritarian madness: The Fe
For months, The Fed and the market have been demanding, anticipating, and pressuring Congress for moar... moar loans, moar handouts, moar bailouts, and moar promises of moar.
Earlier today we said that with the collapse of "Blue Wave" hopes, and with them expectations of a massive fiscal stimulus (made even less likely now that Nancy Pelosi is facing a growing rebellion within the Democratic party), the Fed is now the onl
Clearly the Fed felt that it needed a flashing red Bloomberg headline to stop and reverse the rout, and as such it huddled early on Friday, when it decided to adjust "the terms of the Main Street Lending Program in two important ways to better target
"We can't do it, unless we raise taxes." These are words that one hardly ever hears from Washington. How can this be? How can they run a military empire, a humongous welfare state, bailout everyone, and make promises that can never be kept? Well, it'
In the most dramatic admission yet that the Fed is aware that it is directly responsible for the record wealth gap tearing apart US society even as it virtue signals each and every day about reducing income and race inequality and blames racism for i
Illinois is set to borrow several billion from the Federal Reserve's Municipal Liquidity Fund (MLF) for a second time if a new U.S. stimulus package and a progressive tax hike scheme for Illinois don't come through, according to comments from Ill
Last week, President Trump tweeted the rug out from under stimulus when he announced that negotiations were going to be cut off until after the election. The markets immediately tanked. But Trump quickly reversed course.
On Friday, the Bank of Japan joined the Fed and ECB when it said it would begin experimenting on how to operate its own digital currency, rather than confining itself to conceptual research as it has to date.
House Financial Services Chair Maxine Waters and Senator Elizabeth Warren have introduced the Federal Reserve Racial and Economic Equity Act. This legislation directs the Federal Reserve to eliminate racial disparities in income, employment, wealth,