Congress Should Not Expect a Miracle from Monetary Stimulus cato.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cato.org Daily Mail and Mail on Sunday newspapers.
[co-author: Stephen Kim]
REGULATORY DEVELOPMENTS
Treasury to Invest $9 Billion in Community Development Financial Institutions and Minority Depository Institutions Through Emergency Capital Investment Program
On March 4, the U.S. Department of the Treasury (Treasury) announced that it was opening the application process for the Emergency Capital Investment Program (ECIP) – a Congressionally authorized new program designed to provide long-term, low-cost equity and subordinated debt financing for participating institutions in order to support low-and-moderate income historically disadvantaged communities impacted by COVID-19. The program will invest $9 billion in capital directly to Community Development Financial Institutions (CDFIs) and minority depository institutions to support the provision of loans, grants, and forbearance for small and minority businesses and consumers in low income communities. This $9 billion investment will complement the $3 billion of grants being provi
Last week the Fed announced that, retroactive to May 2020, its M1 money stock measure would include savings deposits, which were reclassified as transaction accounts similar to other deposit components of M1 such as demand deposits and other checkable deposits (i.e., NOW accounts and ATS accounts). Previously, savings deposits were considered to be nontransaction accounts and relegated exclusively to the broader monetary aggregate M2, which included, in addition to M1, other nontransaction accounts such as small-time deposits (CDs of less than $100,000) and retail money market mutual fund shares (MMMFs). Savings deposits were previously considered nontransaction accounts, because some (but not all) … Continue reading →
By Gordon Duff and New Eastern Outlook of the Russian Academy of Science (EST. 1816)
[ Editor’s Note: I added in this classic George Carlin video at the end of the article due to Ferdinand’s comment, “All there in a 4 minute blurt of genius”. We always love to see readers adding in comments help take an article deeper
First published on VT … March 05 2021
The world largely stopped trusting America under Trump, with some exceptions, certainly Israel and Saudi Arabia. Even with Trump gone, the fear of Trump returning is pushing nations like Iran into a negotiating stance on the JCPOA nuclear deal that is looking increasingly hopeless.