Subscribe On March 16th 2023, the Thursday after Silicon Valley Bank Failed, I published a piece entitled “What's going on with Treasuries? Silicon Valley Bank and the incoherence of the Federal Reserve's (lack of) an interest rate policy this week.
Subscribe Long time and close readers of Notes on the Crises will be aware that I’m a Modern Monetary Theory (MMT) scholar. More than three years ago now I published written remarks of a talk I gave to a Federal Credit Union which
Hello Readers, I'm very excited to announce that I'm under contract with Viking Press of Penguin for my book on the Federal Reserve entitled "Picking Losers". I'm sure I will write about some of the themes
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Before Silicon Valley Bank failed last week, I was considering writing a post examining the Federal Reserve’s policy framework in the context of the last sixty years of monetary policy’s history. That kind of analysis is now newly relevant, perhaps even urgent
Normally I do not release pieces on Saturdays or Sundays. However, this is the third anniversary of the first piece I ever sent of this newsletter. That brief note, appropriately titled “Sign of the Times”, was more like a glorified social media post than
Special note to readers. Typically, when I haven’t written in a while for the newsletter I will write a few free pieces, and then write some premium pieces as a reward to loyal paid subscribers (and motivate people to take out paid subscriptions.
Financial crisis nerds have had quite a weekend. In short order the one-of-a-kind Silicon Valley Bank began to reportedly be experiencing losses, and large uninsured depositors began loudly and aggressively “pulling” their deposits.