View allAll Photos Tagged monetarypolicy
It’s going to take more than glue or good will to fix the European Union crisis…
Macro Monday project – 11/21/11
“Metallic"
This is a photograph of the Bank of England. This institution generates lots of anger among the British population for its financial and monetary policies. Less said about that the better. I used the steps of the Royal Exchange as a geometrical lead into the composition.
Visited Washington during the arctic blast... Freezing weather, but had to go see the meeting place of the Federal Reserve Board of Governors. Combining two interests (pun intended) of mine: photography and economics!
American flag waving at the Federal Reserve Bank in New York
As a reminder, keep in mind that this picture is available only for non-commercial use and that visible attribution is required. If you'd like to use this photo outside these terms, please contact me ahead of time to arrange for a paid license.
Really scary is to know that the future of the global economy might be determined by the irresponsibility and greediness of a few. Happy Halloween my friends!
Macro Monday project – 10/31/11
“Spooky & Scary"
Take your pick: An ounce of pure silver or a piece of paper worth as much as monopoly money?
Article I, Section 10, Clause 1 of the U.S. Constitution:
“No State shall … coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.”
So why is it that US currency is in the form of PAPER? Where does this paper come from? Why is it called a Federal Reserve Note (FRN)? Why is it used as legal tender?
Briefly, the US monetary system is controlled by the Federal Reserve Bank (the Fed), which was established in 1913 via the Federal Reserve Act. The Fed, despite it's name, is NOT a federal institution. The Fed is a central bank that consists of several secretive, private banks. The Fed has several goals in the United States. First, it loans money, with interest, to the federal government. Second, it adjusts interest rates. Third, it prints fiat currency to be used as legal tender.
The Fed uses fractional reserve banking, i.e., banks "borrow" money from depositors to loan out to borrowers. Why did you think you got interest for storing your money in the bank? Ever notice the interest on a checking or savings account is far less than the interest on a loan? The bank is makes money off your money!
Before FRNs, "paper money" was actually exchangeable for gold or silver. They were backed by these precious metals. Therefore, based on the amount of gold or silver in holding, only a limited number of certificates could be in circulation. This keeps the economy stable, and protects against unlimited expansion of credit (inflation) or unlimited contraction of credit (deflation).
Why gold and silver? Unlike paper, gold and silver will ALWAYS hold intrinsic value. The Fed attempts to stabilize and stimulate the economy by manipulating interest rates, which is accomplished through putting more US currency in circulation-- more money chasing the same product results in inflation. In fact, there has been so much inflation since 1913, that a US dollar today has 4% of the purchasing power that a US dollar did in 1913. With advanced technology and increased productivity, shouldn't we be able to by things for cheaper now?!?! The devaluation of the US dollar is also evident when compared to foreign currencies.
If the US dollar was still backed by gold, it would be inflation proof. In fact, the price of gas would cost about the same as it did 8 years ago!
To learn more about the US monetary system please watch:
Fiat Empire, Money Masters, Freedom to Fascism, Conquering the Spirit of Debt
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"All of the perplexities, confusion, and distress in America arises, not from the defects of the Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation." --John Adams
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance." --James Madison
"You are a den of vipers and thieves and I intend to rout you out, and by the eternal God, I will rout you out. If Congress has the right to issue paper money, it was given them to be used by themselves, and not to be delegated to individuals or corporations.." --Andrew Jackson
"I believe that banking institutions are more dangerous to our liberties than standing armies." --Thomas Jefferson
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." --Woodrow Wilson
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The only Presidential candidate (and probably politician) that understands economic issues and addresses the woes of the US monetary policy is Ron Paul. Read a recent speech by Ron Paul on legalizing competing currencies. And also watch a recent interview with Ron Paul about monetary policy here.
Explore: Feb 16, 2008 #279
American flag hanging in front of the Federal Reserve Bank of New York
As a reminder, keep in mind that this picture is available only for non-commercial use and that visible attribution is required. If you'd like to use this photo outside these terms, please contact me ahead of time to arrange for a paid license.
Chair Powell participates in the Federal Open Market Committee (FOMC) press conference on November 2, 2022.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Better safe than sorry! You never know in the current global economic scenario!
Macro Monday project – 11/21/11
“Metallic"
The ECB held its Forum on Central Banking on 28-29 September, 2021 in Frankfurt am Main, Germany.
Photo by Sanziana Perju / ECB
FOMC Chairman Powell answers a reporter's question at the October 30, 2019 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
The Federal Reserve Bank of New York
As a reminder, keep in mind that this picture is available only for non-commercial use and that visible attribution is required. If you'd like to use this photo outside these terms, please contact me ahead of time to arrange for a paid license.
FOMC Chairman Powell answers a reporter's question at the December 11, 2019 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Federal Open Market Committee (FOMC) participants gather at the Marriner S. Eccles Building in Washington, D.C., for a two-day meeting held on January 29-30, 2019. Please note: Confidential documents seen in this photo have been obscured.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Federal Open Market Committee (FOMC) participants meet via video conference for a two-day meeting held on June 9-10, 2020
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Federal Open Market Committee (FOMC) participants meet via video conference for a two-day meeting held on June 9-10, 2020.
Please note: Confidential items seen in this photo have been obscured.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Chair Powell participates in the virtual Federal Open Market Committee (FOMC) press conference on June 16, 2021.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Chair Powell participates in the virtual Federal Open Market Committee (FOMC) press conference on July 28, 2021.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Chair Powell participates in the virtual Federal Open Market Committee (FOMC) press conference on March 17, 2021.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
How has monetary policy helped in nurturing a sluggish recovery? What expectations should the public have for the role of monetary policy in the future? How do Federal Reserve decision-makers confront or cope with uncertainty when designing and implementing monetary policy? Charles Plosser, former president of the Federal Reserve Bank of Philadelphia and University of Chicago alumnus, offered insights on these questions and more in a candid discussion with Lars Peter Hansen, Becker Friedman Institute director and 2013 Nobel laureate.
Federal Open Market Committee (FOMC) participants at the William McChesney Martin Jr. Building in Washington, D.C., during a two-day meeting held December 13-14, 2022.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Federal Open Market Committee (FOMC) participants meet via video conference for a two-day meeting held on June 9-10, 2020
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chairman Powell answers a reporter's question at the March 20, 2019 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chair Powell answers a reporter's question at the March 3, 2020 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Chair Yellen answers questions at the FOMC press conference.
www.federalreserve.gov/monetarypolicy/fomcpresconf2015031...
Chair Powell participates in the virtual Federal Open Market Committee (FOMC) press conference on December 15, 2021.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Chair Powell participates in the Federal Open Market Committee (FOMC) press conference on June 15, 2022.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Chair Powell leads a two day meeting of the Federal Open Market Committee (FOMC) held January 29-30th, 2019.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chairman Powell answers a reporter's question at the December 19, 2018 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Federal Open Market Committee (FOMC) participants gather at the William McChesney Martin Jr. Building in Washington, D.C., for a two-day meeting held on March 15-16, 2022. Please note: Confidential documents seen in this photo have been obscured.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chair Powell answers a reporter's question at the January 29, 2020 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Collection: Cornell University Collection of Political Americana, Cornell University Library
Repository: Susan H. Douglas Political Americana Collection, #2214 Rare & Manuscript Collections, Cornell University Library, Cornell University
Title: The Political Baby
Political Party: Republican
Election Year: 1896
Date Made: 1896
Measurement: Sheet Music: 14 x 10 3/4 in.; 35.56 x 27.305 cm
Classification: Publications
Persistent URI: http://hdl.handle.net/1813.001/5zvk
There are no known U.S. copyright restrictions on this image. The digital file is owned by the Cornell University Library which is making it freely available with the request that, when possible, the Library be credited as its source.
Governor Brainard, Chair Powell and Governor Bowman participate in a panel for Fed Listens: Perspectives on Maximum Employment and Price Stability. Learn more: www.federalreserve.gov/monetarypolicy/review-of-monetary-...
Chair Powell participates in the virtual Federal Open Market Committee (FOMC) press conference on June 16, 2021.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chair Powell answers a reporter's question at the June 16 2019 press conference:
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chair Powell answers a reporter's question at the June 16 2019 press conference:
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
ECB President Christine Lagarde explained the Governing Council's monetary policy decisions and answered questions from journalists at the Governing Council press conference held on 10 September 2020 at 14:30 CEST in Frankfurt am Main.
Photo by Martin Lamberts / European Central Bank
FOMC Chair Yellen answers a reporter's question at the September 20, 2017 FOMC press conference: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chair Powell answers a reporter's question at the May 1, 2019 press conference.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Federal Open Market Committee (FOMC) participants gather at the Marriner S. Eccles Building in Washington, D.C., for a two-day meeting held on January 29-30, 2019. Please note: Confidential documents seen in this photo have been obscured.
FOMC meetings, calendars, statements, and minutes are available here: www.federalreserve.gov/monetarypolicy/fomccalendars.htm
February 2020 Monetary Policy Report: The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of "the conduct of monetary policy and economic developments and prospects for the future." View the latest report: www.federalreserve.gov/monetarypolicy/mpr_default.htm
FOMC Chair Powell delivers opening remarks at the April 29, 2020 press conference.
FOMC meetings, calendars, statements, and minutes are available here. www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC Chairman Powell answers a reporter's question at the press conference: www.federalreserve.gov/monetarypolicy/fomcpresconf2018061...