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It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair. We ha...
Money Earning Money "Unnatural" Aristotle believed that charging interest was "unnatural", condemning it ruthlessly on several occasions: Aristotle believed that charging interest was immoral because money is not productive. If you allow someone to use your orchard, he argued, the orchard...
Originally published on 26 Aug. 2019 By CME Group The Fed has failed to stoke inflation, which has been persistently low due to retiring baby boomers spending less and millennials loaded with student debt. Editor's Note : The summary bullets for this article were chosen by...
The Federal Reserve has ended its efforts to “normalize” its balance sheet. That is, the Fed has now moved on to the next stage of its operations. It has stopped reducing the size of its securities portfolio and now is focusing almost entirely on what it should do with interest...
By William J. Luther I n 2012, the Federal Reserve adopted a “longer run” inflation target of 2%. The European Central Bank ((ECB)) similarly “ aims at inflation rates of below, but close to, 2% over the medium term.” Indeed, all around the world , central ...
Rick Rieder highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and populism continue to thrive. The major global central banks continue to draw bigger guns in their battle against deflation , yet in some...
It's that D-word again. Deflation is knocking at the door of the global economy. But who is going to answer, and who is really at the door? (and so what??) In the following charts and paragraphs I will provide my take on the key drivers, the response, the ripple effects, and a base case scen...
By Olumide Owolabi, Portfolio Manager, Global Fixed Income Team The Fed seems more likely to focus on a range of policy tools. Neuberger Berman's Global Fixed Income team recently conducted a roundtable discussion focused on the unprecedented dynamics of negative interest rates. We exa...
By Colin Lloyd Following on from my previous article, " The Pension Fund Apocalypse ," these are just a few of last month's stories. Danske Bank ([[DNSKF]]) of Denmark introduces the first negative 10-year fixed-rate mortgage. The German Finance Ministry voices disappointment at the ...
"I'm not lost for I know where I am. But however, where I am, may be lost." - Pooh There are few, if any, more sensible literary figures than the "Silly Old Bear." His common sense is grounded, and his words of wisdom are among the best, that the world has to offer. With $17 trillion in ne...