Today, Alt-M features a guest blog post from Brian Nolan, a bank treasury professional and co-founder of Finteum in London, UK, which is creating an interbank market for intraday borrowing and lending. *** In a speech on February 6 at the Money Marketeers Club of New York…
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."…
"You’ve always had the power to go back to Kansas.” —the Good Witch of the East, to Dorothy, in The Wizard of Oz. (This is the conclusion of a two-part essay. For Part 1 click here.) Equipped with some historical background, we can now consider ways in…
"If you put the federal government in charge of the Sahara Desert, in five years there'd be a shortage of sand." (Attributed to Milton Friedman) While my fellow Fed-watchers have had their eyes firmly glued to the repo-market for several weeks now, I've been preoccupied with…
I'm not the gambling sort. However, were I so I'd bet dollars to donuts that the Standing Repo Facility (henceforth "SRF") plan proposed by David Andolfatto and Jane Ihrig in a pair of St. Louis Fed articles (here and here) will be an important topic of discussion…