Here is today’s Headline: “UBS Is Fined $4.2 Billion in French Tax-Evasion Case: Judges find the Swiss lender guilty of illegally recruiting clients in France and helping them launder money that wasn’t declared to authorities” The rest of the Wall Street Journal article is here: WSJ article on Banks Providing Tax Evasion This headline … More Banks Intermediate Tax Evasion Services
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
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