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Only a few days left for EDU's Christmas Sale, memberships, and research subscriptions. https://www.eurodollar.university/sales-page-1 What happens when the Fed really pivots and starts cutting rates? We know what's supposed to happen, though it never does. Before we get into the history of rate cut programs, we first have to understand why "monetary" policy targets interest rates in the first place. Once we do that it's easy to see why rate cuts are all hype. Eurodollar University's Money & Macro Analysis FOMC December 1974 https://www.federalreserve.gov/monetarypolicy/files/fomcmod19741217.pdf FOMC July 1981 https://www.federalreserve.gov/monetarypolicy/files/FOMC19810707meeting.pdf FOMC June 2000 https://www.federalreserve.gov/monetarypolicy/files/FOMC20000628meeting.pdf Twitter: https://twitter.com/JeffSnider_EDU https://www.eurodollar.university RealClearMarkets Essays: https://bit.ly/38tL5a7 #recession #money #recession2023 #money #inflation #deflation #interestrates #dollar #economy #credit #interestrates #ratecuts #federalreserve #fomc #fedpivot |