The Federal Reserve seems to be thinking about how to respond to an upcoming financial crisis or a recession in the global economy. As the English-language service reports from Reuters , there are apparently far-reaching and very unusual measures in the conversation.
John Williams, president of the Federal Reserve Bank of San Francisco, said at a conference that it would no longer be enough to cut interest rates in the next recession. Instead, much more far-reaching measures would have to be taken. "We will be much better equipped to curb the next economic recession as we develop approaches that will work when many other countries are simultaneously hampered by the already expansive monetary policies of their central banks," Williams said. "And that means that you have to worry about the consequences of monetary policy."
Williams explained that central banks no longer need to use bond purchases and lower interest rates alone, but also negative interest rates on bank deposits - as they have already imposed today by the ECB, the Japanese central bank and the Swiss National Bank. In addition, according to Williams, "tools" would have to be used that have never been used before. These include price level targeting and nominal income targeting.
You can read the rest @
https://deutsche-wirtschafts-nachrichten.de/2017/11/17/us-zentralbank-bereitet-massive-eingriffe-fuer-kommende-krise-vor/ [translation required]
"Negative interest rates on bank deposits" means they will take your money.
Let that sink in - We The People did NOT cause this mess, but the Fed plans to take our money to bail out the rich people who did.
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