financial stability

The Fed: Everything Everywhere All at Once

Mar 14, 2023 2 min read

Did the Fed just guarantee every bank deposit in America? That's really not the Fed's job; it's up to the FDIC to insure deposits up to a maximum of $250,000. By law, the Fed's job is to keep unemployment and inflation down. In addition to its legal "dual mandate," the Fed is ultimately responsible for maintaining financial stability. Our

Ed Yardeni

FTX Crash Isn't Stressing US Credit System

Nov 18, 2022 2 min read

Earlier last week, crypto exchange FTX had to deny customer withdrawal requests of about $5 billion. FTX lent about $10 billion of customers’ funds to Alameda Research for trading purposes. John Ray III is the new CEO of FTX. He was the man who cleaned up the mess at Enron. He says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control. (Here

Ed Yardeni

Cryptocurrencies Are Digital Tulips

Nov 9, 2022 1 min read

Stocks sold off today partly as a result of the turmoil in cryptocurrencies markets. It was a risk-off day. Here is what I wrote in our May 11, 2021 Morning Briefing about this asset class: "I had been thinking of cryptocurrencies as 'digital tulips,' reminiscent of the 17th century tulip mania in Amsterdam that drove up tulip prices beyond reason. The difference is that cryptocurrencies are traded

Ed Yardeni

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The Fed: Everything Everywhere All at Once

FTX Crash Isn't Stressing US Credit System

Cryptocurrencies Are Digital Tulips