Ahhh, let’s reflect on Q4 2008. It wasn’t that long ago, and interest rates on short-term T-bills were throwing up goose eggs. At the time, though, it was because investors were fleeing stocks and corporate bonds into the safest thing they could think of short of shoving money under their mattresses – in other words, [...]
Entries Tagged as 'zirp'
I Can Has Status Quo
January 28th, 2009 · 2 Comments · bernanke, governors, zirp
FOMC looks under the bed, sees fail, sticks with the ZIRP, surprises no one: The Federal Open Market Committee decided today to keep its target range for the federal funds rate at 0 to 1/4 percent. The Committee continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate [...]
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Unanimously Yours, ZIRP
January 6th, 2009 · 1 Comment · governors, zirp
From the “much less interesting story than it could have been” department: today’s FOMC minutes reveal that the decision to establish a target rate somewhere between zero and 1/4 percent was a unanimous one. All those hoping for a Bernanke/Kohn death match (which was probably just me) are very disappointed right now.
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Your Daily Doom n’ Gloom
December 17th, 2008 · 1 Comment · fail, governors, zirp
So what, exactly, happens in a zero interest rate environment? Where can we look to see what a modern capitalist economy does, does not do, and can and cannot expect when banks can get free money? Why, it just so happens that Japan experimented with this very thing, from 1999 through 2006. Surprisingly, much like [...]
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MSNBC Gets Finance
December 16th, 2008 · 3 Comments · governors, zirp
Yeah, that pretty much says it all.
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