by On his blog, John Cochrane reports about a Hoover panel including him, Charles Plosser, and John Taylor. Cochrane focuses on the liability side. He favors a large quantity of (possibly interest bearing) reserves for financial stability reasons. Plosser focuses on the asset side and is worried about credit allocation by the Fed, for political economy reasons. Taylor favors a small balance sheet. Cochrane also talks about reserves for everyone, but issued by the Treasury.
Topics:
Dirk Niepelt considers the following as important: balance sheet, Central Bank, credit, Credit allocation, Federal Reserve, Financial stability, Interest on reserves, Notes, Reserves, Treasury
This could be interesting, too:
Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI
Marc Chandler writes FX and Rates Unwind Yesterday’s Powell Effect, US Index Futures Slide
Marc Chandler writes FX Becalmed Ahead of the Weekend and Next Week’s Big Events
Marc Chandler writes Continued Backing Up of US Rates Extend the Greenback’s Gains
On his blog, John Cochrane reports about a Hoover panel including him, Charles Plosser, and John Taylor.
Cochrane focuses on the liability side. He favors a large quantity of (possibly interest bearing) reserves for financial stability reasons. Plosser focuses on the asset side and is worried about credit allocation by the Fed, for political economy reasons. Taylor favors a small balance sheet. Cochrane also talks about reserves for everyone, but issued by the Treasury.