Federal Reserve

Mourning doves are found throughout America and have large populations in most places they reside.  They are a hearty animal, capable of surviving in a variety of conditions, including summers in desert climates.  As you know, deserts are challenging environments.  Relative to other parts of earth, little grows here and that which does is highly adapted.  For these birds to

Last Friday we published this note about the recent disruption in the repurchase agreement (repo) market.  This is a short-term lending resource for various financial institution (banks and non-banks alike) to borrow cash by temporarily selling high-quality assets and promising to buy them back

The Land of Oz was ruled by The Wizard of Oz in the children’s novel from 1900, The Wizard of Oz by L. Frank Baum.  His subjects held the mysterious man in high regard. Dorothy and her friends even traveled to Emerald City, the capital of Oz, because they were certain he was the only person capable of solving their issues.

Our economy is currently in the middle of its longest economic expansion ever.  Sometimes it’s tough to imagine the Great Recession ended over a decade ago or that the first recession of this century started over 18 years ago.  During both downturns, output was in steep decline and firms were hemorrhaging jobs by the hundreds of thousands each week (e.g., in March 2009, the net

At Tuesday’s Pie Party, a question about the Repo Market (thanks Jerry S.) started the meeting.  After a quick definition, we concluded it has largely moved back to normal, and the system is working orderly once again. 

Insensitivity is on the rise.  It’s taking the world by storm.