The Fed and many economists seem to think the economy is strong, but is it? My Thoughts on the Economy Based on the Data I Read The Fed ignores U-6 unemployment data which still has the rate over 11%. The Producers Price Index (PPI) today came in lower than expected. The Dollar is down $1 and fell since the PPI …
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16
2013
The Federal Reserve – Lender and Buyer of Last Resort
By: Doug Eberhardt
Category: Gold
Tags: BOE, Buyer of Last Resort, Central Bank, Dodd, ECB, Federal Reserve, Frank, Gold, Lender of Last Resort, QE
Can the Federal Reserve save the U.S. economy from failure? Is this their mandate? When you research “lender of last resort (LLR),” which is what the Fed is supposed to be, you mostly find the source to be Walter Bagehot’s Lender of Last Resort Doctrine. This doctrine came about from Bagehot’s book, Lombard Street: A Description of the Money Market. Hartley Withers, in …
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