Today, Wednesday, we have our regular musical feature (might surprise today) as well as a brief commentary on the growing friction between the IMF and the World Bank on what governments and central banks should be doing to address the current inflationary pressures. One [IMF] says hike rates (apparently thinking that will get Russia to withdraw, Covid to go away and OPEC to behave) while the other [WB] says provide better income support and wait out this transitory inflationary phase....Bill Mitchell – billy blog
IMF and World Bank at odds with each other over interest rate hikes
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
3 comments:
Is Putin’s end game the roll out of a domestic CBDC?
https://the-blindspot.com/is-putins-end-game-the-roll-out-of-a-domestic-cbdc/
All the noises coming out of Russia. The man from delmonte says yes it very likely.
"whether commodity traders could be granted their own banking licenses and/or direct access to the central bank balance sheet? They did it for investment banks. They did it for money market funds. So why not do it for commodity traders, who themselves already operate as credit recyclers and intermediators? This, or a walk down of Basel III, seems inevitable to my mind."
A walk back of Basel 3 and Dodd Frank is it on the cards ?
https://the-blindspot.com/in-the-blind-spot-on-tuesday-elon-oil-futures-off-balance-sheet-affairs/
“IMF and World Bank at odds with each other“
thesis vs antithesis ie textbook Art Degree 101…
a synthesis of the two will result..,
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