from the St Louis Fed
-- this post authored by Christopher J. Waller and Jonas Crews
The federal funds rate is the main policy tool the Federal Open Market Committee (FOMC) uses to affect the U.S. economy. But the federal funds rate is not the only interest rate that matters for the U.S. economy. There are many other short-term interest rates and long-term interest rates that affect the U.S. economy.
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.
This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).
BECOME A GEI MEMBER - IT's FREE!
Every day most of this column ("What We Read Today") is available only to GEI members.
To become a GEI Member simply subscribe to our FREE daily newsletter.
from the San Francisco Fed
-- this post authored by Carlos Viana de Carvalho, Eric Hsu, and Fernanda Nechio
After the onset of the global financial crisis, the Federal Reserve had to rely on other tools - including communication - to work around the constraints of being unable to lower the federal funds rate below zero. One way to assess how effective these communications were is by estimating how interest rates on bonds with different maturities reacted to Fed communications before and after the zero-bound period. A measure based on news reports of Fed communications suggests that this tool gave the Fed some ability to affect long-term yields through its communications.
Infographic Of The Day: Shuffling Cards
Someone with the lowest experience with cards will still be able to perform the perfect shuffle.
This widget provided by DailyForex.com Forex News & Brokers
Written by John Lounsbury
We recently pointed out that if only a total of 278,000 votes for Obama had switched to Romney in 2012 that Romney would have won. If the switches had been made in just 3 states, Florida (38,000 out of 8.474 million or 0.45%), Ohio (84,000 out of 5.581 million or 1.5%) and Pennsylvania (156,000 out of 5.754 million or 2.7%), Obama would have been a 1-term president.
by Jeff Miller, A Dash of Insight
This week's calendar includes a big serving of data, an FOMC meeting, the Democratic convention, and plenty of earnings news. The financial media will be asking: What does the election mean for stocks?
Graphic from Investment U at The Market Oracle.
22Jul2016 Market Close: Wall Street Closes Fractionally Higher, US Dollar Climbs Higher As WTI Crude
22Jul2016 Market Update: WTI Crude Falling Below $44 And Further Losses Expected As The US Dollar Ri
ECRI's WLI Growth Index which forecasts economic growth six months forward was improved and remains in positive territory for the 17th week - after spending the previous 35 consecutive weeks in negative territory. ECRI has released their coincident and lagging indices and is reported below.