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#recession #money #recession2023 #money #inflation #deflation #interestrates #dollar #economy #consumer #bankcrisis Any amateur (like me) with a passing interest in economics knows the story: the Fed controls the economy by raising or lowering interest rates. Those then affect the banking system's credit impulse which either adds to or takes away from the general economy depending on what CBers wish to accomplish. Of course, almost none of that is true. How did it get to be this way? Answering that question reveals a lot more than you might think. Eurodollar University's Money & Macro Analysis ECB Monetary Policy Decisions October 26, 2023 https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp231026~6028cea576.en.html Bundesbank TPI https://www.bundesbank.de/en/tasks/monetary-policy/outright-transactions/transmission-protection-instrument-tpi--896158 FOMC Transcript August 1, 2011 https://www.federalreserve.gov/monetarypolicy/files/fomc20110801confcall.pdf Milton Friedman: A Program for Monetary Stability (1960) https://miltonfriedman.hoover.org/objects/57536/a-program-for-monetary-stability FOMC Transcript June 27-28, 2000 https://www.federalreserve.gov/monetarypolicy/files/FOMC20000628meeting.pdf RBI Michael Debabrata Patra: Lost in Transmission? Financial Markets and Monetary Policy https://rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=1338 BOE Catherine Mann: Expectations, lags, and the transmission of monetary policy https://www.bankofengland.co.uk/-/media/boe/files/speech/2023/february/expectations-lags-and-the-transmission-of-monetary-policy-speech-by-catherine-l-mann.pdf Twitter: https://twitter.com/JeffSnider_AIP https://www.eurodollar.university RealClearMarkets Essays: https://bit.ly/38tL5a7 |