If The World Is On Fire, Why Is Gold Getting Cheaper?

Fed's Cook: Labour market is in a low-hire, low-fire regime, and it's tough for the youngest workers.

TRUMP ON PAUSE ON IRAN ENERGY STRIKES: IRANIANS ASKED ME TO DO THAT

Thank you, Francisco, for the kind introduction. It is an honor to be here at the Economic Club of Miami. Tonight I will talk about a topic too large to ignore: the Federal Reserve's balance sheet. Like any other bank, the Fed's balance sheet is a record of the assets and liabilities we hold. The assets are primarily Treasury securities and agency mortgage-backed securities (MBS). The liabilities include all U.S. currency in circulation, reserve balances banks hold at the Fed, and the Treasury General Account. The size and composition of these holdings matter because they affect the amount of money in the banking system and influence broader financial conditions. Understanding how the balance sheet functions is essential to understanding how the Fed supports economic stability and conducts monetary policy. Tonight I will discuss the various regimes under which the Fed has operated its balance sheet and explain why, in my view, shrinking the size of the balance sheet is desirable. Next, I will explain why the challenge of shrinking the balance sheet is a solvable one, and then I will discuss potential paths forward toward accomplishing that goal. Finally, I will conclude with the monetary policy implications of such action. FED GOV MIRAN/ECON CLUB MIAMI: AS HARD AS IT IS, IT'S POSSIBLE TO SHRINK THE FED'S BALANCE SHEET WITHOUT RETURNING TO AN ERA A SCARCE RESERVES #Miran #FederalReserve #economy