Central Bank Watch
3
Nov 09
A Visual History of the Fed
Check out John Paul Koning’s latest chart of the Fed’s history.For better of for worse, the Federal Reserve has been governing the monetary system of the United States since 1914. This chart maps the rise of the Fed from its origins as a relatively minor institution, often controlled by Presidents and the United States Department of the Treasury, into an independent and powerful body that rivals the Presidency in terms of prominence.
Multiple data series including the Fed’s balance sheet, interest rates and spreads, reserve requirements, chairmen, inflation, recessions, and more help chronicle this rise. While this chart can only tell part of the complex story of the Fed, I trust it will be a valuable reference tool to anyone curious about the evolution of this very influential yet controversial institution.
23
Oct 09
Karl comments on “Discretionary Proprietary Traders Worldwide”
…. I like this “Moreover, don’t forget that EURUSD is an exchange rate and not an absoulte value.” It is true, sometimes ones view becomes so US centric that everything else seems better!?, but many LT factors are starting to favor the USD, demographics for one. Much of the negative bias towards USD rest on 2 factors, monetization and budget deficit – the latter leading the former. If Washington, the Treasury and the Fed (a BIG if) starts to take deficits spending seriously and in the process bite the bullet of a possible second recession, USD trend is very likely to reverse. Just my humble thoughts ! KM
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