As the world becomes more digitized and technologically advanced, our monetary system has yet to fully keep up. Money in many ways has already been digitized, with online banking and through online payment platforms, but central banks are pushing to move toward a currency that allows for full control and much more convenience through what…
The Case for Central Bank Digital Currencies
August 22, 2022
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Without Fiscal Responsibility, US Headed for a Worse Economic Crisis: Economic Policy Expert
August 2, 2022
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Business & Marketseconomic policieseconomyFederal Reservegovernment debtinflationInflation Reduction Actmonetary policyUSUS News
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With raging inflation and the Democrat-led Congress gathering enough Senate support to pass billions more in spending, Joel Griffith, a research fellow in the Thomas A. Roe Institute for economic policy studies at The Heritage Foundation, told NTD TV that if the United States does not rein in its irresponsible fiscal actions, the nation is…
Is Pulling Forward Growth Sustainable?
August 1, 2022
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Business & MarketsBusiness Columnistseconomic policieseconomyFederal ReserveMarketsmonetary policyOpinionprice stabilityViewpoints
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Commentary Pulling forward growth over the last decade remains the Federal Reserve’s primary tool for keeping financial markets stable while economic growth rates and inflation remained weak. From repeated rounds of monetary and fiscal interventions, asset markets surged, increasing investor wealth and confidence, which, as then-Fed chair Ben Bernanke stated in 2010, would support economic growth….
Stabilizing Currency Peg to US Dollar May Be Too Costly for Hong Kong This Time: Expert
July 31, 2022
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Asia & PacificBusiness & MarketsChinaeconomyFederal Reserveforeign currency reservesHK BusinessHK Current AffairsHKMAHong KongHong Kong Monetary Authorityinterest rateMarketsmonetary policyUSDWorld
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Hong Kong’s central bank has spent over $22 billion in ten weeks to stabilize the exchange rate of the Hong Kong dollar (HKD) amid weakening market confidence in the city’s currency. Since May 2022, the Hong Kong Monetary Authority (HKMA), the city’s central bank, has bought HKDs at its fastest pace to keep the U.S….
New Zealand Reserve Bank Concedes Role in Country’s Skyrocketing Inflation
July 27, 2022
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The governor of New Zealand’s central bank admitted to the institution’s role in contributing to the country’s high inflation rate. As the Reserve Bank of New Zealand (RBNZ) undertakes the first ever review of its monetary policy remit, governor Adrian Orr acknowledged a research paper on how the institution’s mistakes after 2019 led to inflation….
Reserve Bank of Australia to Go Under Review for First Time in Decades
July 20, 2022
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AustraliaAustralian inflationBusiness & Marketseconomyfiscal policyJim ChalmersMacroeconomicsmonetary policyReserve Bank of AustraliaWorld
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Treasurer Jim Chalmers has announced the first major review of the Reserve Bank of Australia (RBA) since the 1990s and will scrutinise its inflation target arrangements, policy tools, governance, and culture. “This is an important opportunity to get the ball rolling on the Reserve Bank review that the country desperately needs to make sure that…
How Long Will Monetary Policy Remain Restrictive?
July 18, 2022
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Commentary In what may be the worst timing in its checkered history, the Federal Reserve has begun taking money out of the economy at the very time the economy is shrinking. The ill timing of the Fed’s latest move raises the main question investors would like answered—how long will Fed policy stay restrictive? Speculating about…
More Than Two-Thirds of Chinese Bankers Are Not Optimistic About China’s Economy: Survey
July 13, 2022
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A new survey shows more than two-thirds of Chinese bankers are not optimistic about China’s current macroeconomic climate. On June 29, the People’s Bank of China released its latest nationwide Banker Survey Report (pdf), showing various indices about the country’s macroeconomic climate, banking industry, loan demand, and monetary policy. The central bank report indicated that…
Economist That Correctly Predicted Inflation Predicts More
While the hundreds of economists employed by the Federal Reserve were apparently blindsided by the current wave of inflation, there were economists who got their predictions right. Not only have they got the overall inflation number right, but they also explained why so many others got it wrong. Based on their calculation, they expect inflation…
Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy?
Commentary Among Federal Reserve officials and many economists, it is fashionable to argue that any losses the Federal Reserve should suffer, no matter how large, will have no operational consequence. Is this true? If so, how does the Fed account for its losses and stay solvent? And who ends up paying for these losses? As the Fed…
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