Skip to content

Alt-M

Ideas for an Alternative Monetary Future

Alt-M

Ideas for an Alternative Monetary Future

  • Home
  • Contributors
    • George Selgin
    • Larry White
    • James Dorn
    • Jennifer Schulp
    • Norbert Michel
  • Primer
  • Working Paper Series

floor system

IOER, Federal Reserve, Corridor System, Floor System, Central Banking
Banking Regulation, Money & Politics, News, The Fed & Central Banks

Sir Paul Tucker on Floors and Corridors

George Selgin/January 20, 2020June 19, 2022

In some previous posts, I've taken Federal Reserve officials, including former New York Fed President William Dudley, to task for continuing to insist that the Fed's post-2008 "floor" operating system is a "simple" means for keeping overnight interest rates on target. Whatever the floor system's merits may…

Continue reading
floor system, Federal Reserve, IOER, standing repo facility, corridor system
Fiat Money, Money & Politics, News, The Fed & Central Banks

Dudley's Defense of the Fed's Floor System, Take 2

George Selgin/January 8, 2020June 19, 2022

Back in the spring of 2018, yours truly responded at length to a speech then New York Fed President Bill Dudley gave, defending the Fed's "floor" system of monetary control. In that speech, Dudley claimed that "the case for retaining the current floor system is very compelling."…

Continue reading
yield curve, federal reserve, fed, inversion
Events, Financial Markets, Inflation & Deflation, Money & Politics, News, The Fed & Central Banks

How to Flip a Yield Curve

George Selgin/August 19, 2019June 19, 2022

If the recent yield curve panic proves anything, it proves that, in financial markets, what may start out as a mere statistical correlation, and possibly a spurious one, can become a genuine causal relationship. In particular, if enough people subscribe to a post-hoc fallacy, it may not…

Continue reading
Federal Reserve, Floor system, corridor system, balance sheet, SOFR, credit markets
Financial Markets, Money & Politics, The Fed & Central Banks

Fed Watchers Should Keep an Eye on the IOER-SOFR Spread

George Selgin/July 25, 2019June 19, 2022

Regular Alt-M readers are no doubt looking forward to the FOMC's announcement next Wednesday. But I doubt they'll be sitting at the edges of their seats between now and then, much less biting their fingernails. Markets have, after all, been anticipating a modest Fed cut ever since…

Continue reading
Federal Reserve, floor system, interest on excess reserves, operating framework
Financial Markets, Money & Politics, The Fed & Central Banks

The Fed's Shifting Goalposts

George Selgin/May 16, 2019June 19, 2022

When I published Floored! last October, I thought I'd said all I could say concerning the adverse consequences of the Fed's then decade-old decision to adopt a "floor"-type operating system. In the new arrangement, the Fed pays interest on bank reserves, and uses changes in the rate…

Continue reading

Posts navigation

123

Follow

Print

Subscribe


Contributors

  • Hu McCulloch
  • George Selgin
  • James Dorn
  • Jennifer Schulp
  • Norbert Michel
  • Larry White
  • Alan Reynolds

Categories

  • Banking Regulation (125)
  • Booms & Busts (57)
  • Commodity Money (80)
  • Currency Boards (19)
  • Digital Money (99)
  • Economic History (207)
  • Economic Thought (167)
  • Events (60)
  • Fiat Money (81)
  • Financial Innovation (50)
  • Financial Markets (138)
  • Free Banking (211)
  • Inflation & Deflation (86)
  • Legal Analysis (3)
  • Monetary Policy Primer (12)
  • Money & Politics (335)
  • News (259)
  • Recommended Reading (99)
  • Securities Regulation (7)
  • The Fed & Central Banks (381)
  • Uncategorized (11)
  • Working Papers (7)

Recent Posts

  • The New Deal and Recovery, Part 23: The Great Rapprochement
  • The New Deal and Recovery, Part 22: Postwar Monetary Policy
  • Diamond and Dybvig and the Panic of 1907
  • Diamond, Dybvig, and Government Deposit Insurance
  • Bank and Crypto Runs: F(ac)TX vs Fiction
  • The New Deal and Recovery, Part 21: Happy Days
  • Stop Lionizing Paul Volcker and Villainizing Arthur Burns

About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

Sponsors

Liberty and Privacy Network
This work by the Cato Institute and the Liberty and Privacy Network is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.
DMCA | Privacy Policy
top