With no deficits to finance, the Fed would have had no compelling reason to manipulate interest rates. Federal debt, if left where it was when Bill Clinton moved out of the White House, would be about five and a half trillion, not US$31 trillion.
ASX rises as Wall Street rallies overnight. ‘Meme stock’ Bed Bath & Beyond jumps 69%. FTX finds US$5b in liquid assets.
Strike Energy opens its off market takeover bid offer for Warrego in wake of recent bidding war.
In today’s Daily Reckoning Australia, Jim presents his fourth and final article in his series on yield curves and market signals. Read on to find out more…
Why does it take more money to buy the same things (aka inflation)? Because the Fed added money! The Fed’s increased its balance sheet 1,200% since 1999. The extra money drove up prices, first when it entered the financial system — on Wall Street. Later, the money made its way into the real economy, where it caused consumer prices to go up at the fastest pace in 40 years.
Fortescue loses CFO as the company’s senior executives’ mass exodus continues in 2023.
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