Finance Basic To Advance Level Knowledge

Source The repo market hit some road bumps last week. Trading pressures in this key funding market pushed repo interest rates well above the Fed's target interest rate range. This development caused some observers to worry that it was a 2008-type run on the repo market  all over again.  Bill Dudley  and others , however, noted this was a technical blip, not the beginning of a financial crisis. Moreover it was something the Fed could easily fix with an old fashion tool, temporary open market operations, even if the Fed got off to a slow start doing so last week.  There have been great Twitter discussions and explanations of this repo market stress, including ones from Nathan Tankus , Bauhinia Capital , Guy LeBas , and George Selgin . There are also have been many good pieces from journalists and think tanks . Here, I want to echo a few of their points and speak to where I hope this experience takes the Fed's operating system in the long run.  Le...

Dollar Dominance I have been part of a dollar dominance conversation for the past few weeks. It started with my NRO article,   discussions   on the topic at the Jackson Hole conference, and a  follow-up blog post . Later, there were twitter conversations, an i nterview on Bloomberg TV , and several podcast recordings. This all culminated in an article I wrote for The Bridge that summarizes what I see as the main issues of dollar dominance and what realistically can be done about it. Check it out and also see the follow-up twitter thread I provided that documents some of the claims made in the piece. Paul Volcker is What the Public Wanted Back in May, I interviewed Robert Samuelson about his book on the Great Inflation of the early 1970s to early 1980s . One of the claims he makes is that inflation was a bigger deal than Watergate or Vietnam for most Americans during that time. Samuelson notes most histories of this period overlook this fact even tho...