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The Federal Reserve In Two Crises
(Private Enterprise Research Center, Texas A&M University, 2020-11-16)
The country has experienced two economic crises in the first two decades of the 21st century, but there are significant differences between the 2008 crisis and the 2020 crisis caused by the pandemic. In this policy study, ...
Free Banking Is Back?
(Private Enterprise Research Center, Texas A&M University, 2022-11-15)
While none of the current cryptocurrencies, themselves, currently circulate in general commerce, many crypto exchanges have arisen that exchange the various cryptocurrencies for one another and for titles to U.S. dollars. ...
Money and Banking When Reserves Pay Interest
(Private Enterprise Research Center, Texas A&M University, 2020-04-09)
The Federal Reserve’s decision in 2008 to begin paying interest on bank reserves, particularly excess reserves (the IOER), has changed the role of the banking system and the determination of the nation’s money supply. ...
The Pandemic Federal Reserve: The First Two Years
(Private Enterprise Research Center, Texas A&M University, 2022-06-07)
Due to the Covid-19 pandemic, developed world governments engaged in unprecedented spending. Federal Reserve securities holdings were an astounding 36.5% of the nation’s Gross Domestic Product after two pandemic years. ...
Can Cryptocurrencies Successfully Compete in the Money Market?
(Private Enterprise Research Center, Texas A&M University, 2021-03-17)
The cryptocurrency revolution began with the introduction of Bitcoin in 2009. Today, there are now more than 4,000 cryptocurrencies and Bitcoin has a market capitalization of over $1 trillion. While these new digital ...
The Failed Federal Reserve Attempt to Get Back to the Past
(Private Enterprise Research Center, Texas A&M University, 2020-05-21)
The end result of the Federal Reserve’s response to the 2008 financial and the Great Recession was an unprecedented increase in assets. Between 2008 and 2014, Federal Reserve assets rose from just under $900 billion to ...
The Federal Reserve & Interest Rates: It's the Interest on Reserves, Not the Fed Funds Rate That Matters
(Private Enterprise Research Center, Texas A&M University, 2022-09-16)
Much of the press’s reporting of the Federal Reserve’s efforts to fight inflation is measured by how much the Federal Reserve will raise interest rates at its next FOMC meeting. But the press’s measure of interest ...
Will Cryptocurrencies Replace the Money We Know?
(Private Enterprise Research Center, Texas A&M University, 2021-10-08)
Most commerce is conducted not with physical currency but by digital transfers of titles to currency, at least in the developed world. Currently there are approximately 300 digital exchanges that will exchange cryptocurrencies ...