From 1793 until 1861, when the U. S. Treasury Department was given exclusive rights to produce legal tender, thousands of different styles of bank notes were created by U.S. banks.
Look for our next post on March 23.
December 19, 2014
December 8, 2014
Global Asset Prices and the Taper Tantrum Revisited
Global asset market developments during the summer of 2013 have been attributed to changes in the outlook for U.S. monetary policy, starting with former Chairman Bernanke’s May 22 comments concerning future curtailing of the Federal Reserve’s asset purchase programs.
Posted at 7:00 am in Euro Area, Exchange Rates, Expectations, Financial Markets, International Economics, Monetary Policy | Permalink
December 5, 2014
Survey Measures of Expectations for the Policy Rate
Market prices provide timely information on policy expectations.
Crisis Chronicles: The Panic of 1819—America’s First Great Economic Crisis
As we noted in our last post on the British crisis of 1816, while Britain emerged from nearly a quarter century of war with France ready to supply the world with manufactured goods, it needed cotton to supply the mills, and all of Europe needed wheat to supplement a series of poor harvests.
December 3, 2014
Why Do Banks Keep All That “Fracking” Money?
In a recent post, I discussed the significant impact that “fracking” and other unconventional energy development has had on bank deposits.
December 1, 2014
What Do Banks Do with All That “Fracking” Money?
Banks play a crucial role in the economy by channeling funds from savers to borrowers.
November 25, 2014
Just Released: Household Debt Balances Increase as Deleveraging Period Concludes
Andrew F. Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw The New York Fed released the Quarterly Report on Household Debt and Credit for the third quarter of 2014 today. Balances continued to rise slightly, with an overall increase of $78 billion. The aggregate household debt balance now stands at $11.71 trillion, up […]
November 24, 2014
Bitcoin: How Likely Is a 51 Percent Attack?
Rod Garratt and Rosa Hayes In June 2014, the mining pool Ghash.IO briefly controlled more than half of all mining power in the Bitcoin network, awakening fears that it might attempt to manipulate the blockchain, the public record of all Bitcoin transactions. Alarming headlines splattered the blogosphere. But should members of the Bitcoin community be […]
November 21, 2014
Historical Echoes: Postage Stamps Portray Stories of American Banking History
Prior to 1876, there was fierce competition among engraving firms and private bank note companies for contracts to print U.S. Treasury bank notes.
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