The New Deal didn’t rescue the US economy from the depths of the Great Depression – World War 2 did. FDR’s spending programmes marked the start of the New Deal era that dominated the US until the 1970s. It would take a decade of stagflation to reverse the disastrous effects that the emergence of theContinue reading “FDR’s New Deal Failure”
Monthly Archives: January 2023
Yield Curve Control?
Yield Curve Control has been a popular monetary policy tool adopted by several central banks around the world. In simple terms, YCC is a policy tool used by the central banks to target a specific yield on long term government bonds (gilts in the UK), thereby keeping the long-term interest rates low. The central bankContinue reading “Yield Curve Control?”
Hoover’s Harmful Policies
Contrary to popular belief, Herbert Hoover pursued a heavily interventionist economic agenda. Hoover’s accession to the Presidency in the late 1920s marked a sharp turn from the Republican Party’s laissez-faire economic policies that dominated the 1920s and produced unbridled prosperity. Former President Coolidge presided over balanced budgets, limited government and economic stability. By comparison, Hoover’sContinue reading “Hoover’s Harmful Policies”
Monetary Tools
Monetary policy in the UK and the US is conducted by the Bank of England and the Federal Reserve, respectively. While on the surface, monetary policy appears uniform across all nations; this is far from the truth – with different monetary tools at the disposal of the various Central Banks globally. Such is the caseContinue reading “Monetary Tools”
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