In the battle against debt deflation, TEAM Federal Reserve has gone full blast!
All charts from St. Louis Fed, through October 30
Monetary Aggregates:
Adjusted Monetary Base
MZM (Money with Zero Maturity)
M2
Bank Credit and Federal Reserve Balance sheet holding of US Treasuries
Even as the FOMC brought interest rates down to 1% Fed Fund Futures appear pointing to another 25 basis point cut!
One recent impact: The moribund Commercial Paper and Asset backed markets evincing signs of renewed life!
Kenneth S. Rogoff, a former chief economist at the International Monetary Fund and now a professor at Harvard quoted at the New York Times,``We’re entering a really fierce global recession. A significant financial crisis has been allowed to morph into a full-fledged global panic. It’s a very dangerous situation. The danger is that instead of having a few bad years, we’ll have another lost decade.”
Mr. Rogoff adds, “If you print enough money, you can create inflation.”
That's what the Fed is doing now.
That's what the Fed is doing now.
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