The Federal Reserve’s system that allows financial institutions to send money back and forth electronically went down Wednesday morning. From a report: The “operational error,” as the Fed described it, impacted multiple services, including its pivotal automated clearinghouse system, which connects depository and related institutions send electronic credit and debt transfers. There were no initial indications that foul play was suspected….
Tag: Credit and Debt
Trump Says Fed Should Cut Rates and Lift Economy
President Trump said on Friday that he wants another round of quantitative easing from the central bank. Source: https://www.nytimes.com/2019/04/05/business/economy/trump-fed-interest-rates.html?partner=rss&emc=rss
Modern Monetary Theory Finds an Embrace in an Unexpected Place: Wall Street
M.M.T.’s fans include Alexandria Ocasio-Cortez, Bernie Sanders — and financial analysts at Goldman Sachs, Nomura and GMO. Source: https://www.nytimes.com/2019/04/05/business/economy/mmt-wall-street.html?partner=rss&emc=rss
Economic View: Modern Monetary Theory Makes Sense, Up to a Point
Urgent goals might justify more debt for a while, the economist Robert Shiller says, but this does not license unlimited spending or endlessly accelerating debt. Source: https://www.nytimes.com/2019/03/29/business/modern-monetary-theory-shiller.html?partner=rss&emc=rss