How financial markets and the economy performed last time the Federal Reserve took away the punch bowl by raising its policy rate and pursuing quantitative tightening. Things worked out fine that time. Will it be different this time?
Topics covered include:
Where did the phrase take away the punch bowl come fromHow central bank actions can slow the economy and lower inflation.The difference between having cash and having wealthHow quantitative easing and quantitative tightening workWhat happened last time the Federal Reserve pursued quantitative tightening
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Show Notes
Address before the New York Group of the Investment Bankers Association of America on October 19, 1955, by William McChesney Martin, Jr.—FRASER
M2—Federal Reserve Economic Data
Assets: Total Assets: Total Assets: Wednesday Level—Federal Reserve Economic Data
Assets: Securities Held Outright: U.S. Treasury Securities: All: Wednesday Level—Federal Reserve Economic Data
Americans Reported Strong Personal Finances Late Last Year, Fed Finds by David Harrison—The Wall Street Journal
270: Repo Rates Soared—Here’s Why It Matters
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270: Repo Rates Soared—Here’s Why It Matters
295: Federal Reserve Insolvency and Monetizing the National Debt
312: What the Federal Reserve’s New Policies Mean For Your Finances
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