Time for Positive Interest Rates for Savers Federal Reserve interest rates of 2% to 2.25% aren’t neutral if the inflation rate is 2.61%. 8 Comments Nov. 1, 2018 1:10 p.m. ET Federal Reserve Chairman Jerome Powell speaks in Washington, June 13. Photo: michael reynolds/EPA/Shutterstock In “Pause Interest-Rate Hikes to Help the Labor Force Grow” (op-ed, … More WSJ: Time for Positive Interest Rates for Savers
Extract from new forthcoming Berkeley E Journal of Macroeconomics: Advances, “The Welfare Cost of Inflation with Banking Time”, Max Gillman, 2018. Below is Section 2 of this article: “US Law on the Target Inflation Rate” According to the US Federal Reserve Bank the FOMC (Federal Open Market Committee) has since 2012 adopted an explicit inflation … More US Law on the Target Inflation Rate
The Wall Street Journal: Letter “Fed Should Slowly Unwind Excess Reserves” Before 2008, competition between banks forced them to loan out or otherwise invest excess reserves. 4 Comments Sept. 26, 2018 3:15 p.m. ET SEC chairman, Jay Clayton in April Photo: Yuri Gripas/Bloomberg News Regarding your editorial “Sharing the Wealth of Markets” (Sept. 21): Yes, … More WSJ:”Fed Should Slowly Unwind Excess Reserves”
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