Michael S. Derby @michaelsderby Twitter profile

Last Seen Profiles

@Bukky_George

@AnaiatullahA

@TheGigaMall

@amai_vy

@BindmansLLP

@boli_bolinu

@monkeydogtoes

@FundacioFCB

@aik19972023

@maghool1919

@AirbusCareers

@jonghan1313

@Deborah5699

@Stephen16222

@aeK5XDleO9XBNAi

@haruhi_iuchi712

@prestonmoore_25

@Sompeetalay

@Mayzita_Mara

@ty_thompson7

@catdancingg

@SpendyL_ove

@MMSHHRE

@TeamBharat_

@frostvalley

@poetbane

@JackLaugher

@incamrynwetrust

@AldarTweets

@RakanAlshli

@BallStateBB

@pokergod12345

@BelalNezar

@annamead551

@otacosmontargis

@_LJRM

Michael S. Derby

@michaelsderby

3 years

Brutal Rumsfeld obit in the Atlantic.

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Michael S. Derby

@michaelsderby

4 years

Christopher Plummer had a lot of great roles, but I'm particularly fond of his General Chang, his Klingon from Star Trek VI: The Undiscovered Country.

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Michael S. Derby

@michaelsderby

4 years

Goldman Sachs warns data point to a historic and frankly apocalyptic surge in unemployment insurance claims, from current 281,000 to 2,250,000 in next week’s report. Yes you read that right.

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Michael S. Derby

@michaelsderby

7 months

If I were a page one editor, this story--Trump's willingness to abandon U.S. allies to Russian attacks--would be unambiguously the focus of all coverage.

Acyn

@Acyn

7 months

Trump: One of the presidents of a big country stood up and said, Well, sir, if we don't pay and were attacked by Russia, will you protect us? I said.. No I would not protect you. In fact, I would encourage them to do whatever the hell they want.

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Michael S. Derby

@michaelsderby

4 years

New site features pictures of the faces of thousands of insurrectionists who attacked the capital, scrubbed from video. Site creator: "Everybody who is participating in this violence, what really amounts to an insurrection, should be held accountable."

A Site Published Every Face From Parler's Capitol Riot Videos

Faces of the Riot used open source software to detect, extract, and deduplicate every face from the 827 videos taken from the insurrection on January 6.

www.wired.com

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Michael S. Derby

@michaelsderby

3 years

Took two nights but I enjoyed the hell out of Justice League.

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Michael S. Derby

@michaelsderby

4 years

“Mr. Sweet is a man who dipped his toe in the pool of wild and false conspiracies during the Barack Obama administration...wallowing in resentment and anger that others can’t see how the elites are scheming to destroy America the way he can.”

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Michael S. Derby

@michaelsderby

4 years

One of the best lessons of my financially difficult 20s was learning to stay away from debt wherever I could. These Airbnb folks look like they're about to learn that lesson in a nasty way.

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Michael S. Derby

@michaelsderby

4 years

America’s spymaster casts doubt on Biden taking over as president despite no evidence of notable election fraud.

Aaron Rupar

@atrupar

4 years

"We'll see ... whether there is a Biden administration" -- DNI John Ratcliffe

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Michael S. Derby

@michaelsderby

4 years

The view from a man Trump bestowed a Medal of Freedom on.

Eric Kleefeld

@EricKleefeld

4 years

Rush Limbaugh: “I actually think that we’re trending toward secession. I see more and more people asking what in the world do we have in common with the people who live in, say, New York?”

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Michael S. Derby

@michaelsderby

2 years

Some personal news over here. After a 22 year run at the WSJ I’m excited to announce I’ve joined Reuters to cover Federal Reserve and economy issues. Still spooling up for action but email me at Michael.derby @thomsonreuters .com

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Michael S. Derby

@michaelsderby

3 years

Fed's Kashkari on MMT theory: "From what I can tell it’s not an economic theory. It seems more like a political philosophy."

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Michael S. Derby

@michaelsderby

1 year

Weird to have de verified all the news reporters who provided that content in favor of whatever we’ve got now.

Linda Yaccarino

@lindayaX

1 year

Twitter is on a mission to become the world’s most accurate real-time information source and a global town square for communication. That's not an empty promise. That’s OUR reality.

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Michael S. Derby

@michaelsderby

4 years

Holy sh*t: Just saw a list of permanent restaurant and shop closures in my Brooklyn neighborhood due to the pandemic. Eighty eight businesses. That's a massacre.

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Michael S. Derby

@michaelsderby

3 years

And while linked in story, here's a shot of Dallas Fed Kaplan's trading activity last year.

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Michael S. Derby

@michaelsderby

4 years

A key part of the drug war, born most heavily by American racial minorities, may have an end in sight.

Kyle Jaeger

@kylejaeger

4 years

BIG: Senate leadership just revealed the next steps on the path to federally legalizing marijuana this year. Senate Majority Leader @SenSchumer , @SenBooker and @RonWyden issued a joint statement on the plan. Read here:

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Michael S. Derby

@michaelsderby

3 years

In newly released financial disclosure forms for the regional Fed banks, Dallas Fed chief Kaplan stands out for his extensive financial holdings and notable trading in stocks last year.

Dallas Fed’s Robert Kaplan Was Active Buyer and Seller of Stocks Last Year

Dallas Fed leader Robert Kaplan made multiple million-dollar-plus stock trades in 2020, according to a financial disclosure form provided by his bank, in contrast with other regional Fed leaders who...

www.wsj.com

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Michael S. Derby

@michaelsderby

2 months

Video again contradicts NY Post coverage.

Olga Nesterova

@onestpress

2 months

I recorded the ending of the fundraiser.. watch it below and ALWAYS FACTCHECK BEFORE SHARING NONSENSE

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Michael S. Derby

@michaelsderby

3 years

US police and public officials donated to Kyle Rittenhouse, data breach reveals - The Guardian

US police and public officials donated to Kyle Rittenhouse, data breach reveals

Officers and officials also donated to fundraisers for far-right activists and fellow officers accused of shooting black Americans

apple.news

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Michael S. Derby

@michaelsderby

3 years

Interesting observation by Philly Fed Harker about high rents and what's going on with the labor market.

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Michael S. Derby

@michaelsderby

2 years

Former NY Fed Dudley says at WSJ event about Wednesday FOMC outcome: "I think they are going to do 75 basis points...Fed officials are worried a bit about losing credibility." Adds you can make argument for 100 basis points too.

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Michael S. Derby

@michaelsderby

4 years

Former Fed boss Yellen rips companies for borrowing to do unproductive things like stock buybacks, says regulators lacked tools to thwart it, and says this all will complicate a post-Coronavirus recovery.

Janet Yellen Says Too Much Corporate Borrowing Will Hinder Economic Recovery

Former Fed Chairwoman Janet Yellen said bad choices by broad swaths of the financial industry and companies, abetted in part by low rates, are likely to make it harder for the economy to recover from...

www.wsj.com

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Michael S. Derby

@michaelsderby

4 years

The lesson of pre-war Japan: “PUNISH THE PLOTTERS HARSHLY THE FIRST TIME.”

Noah Smith 🐇🇺🇸🇺🇦🇹🇼

@Noahpinion

4 years

1/Alright, gather round, friends, and let me tell you the story of 1930s Japan, and how it's a cautionary tale for 2020s America.

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Michael S. Derby

@michaelsderby

2 months

As Sen. Vance tries to pull Fed chair Powell into immigration issues, Powell responds: "In the long run immigration is kind of neutral on inflation, in the short-run it may have helped, because the labor market got looser."

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Michael S. Derby

@michaelsderby

4 years

The Chicago Fed said today it terminated the visiting scholar contract of University of Chicago prof Harald Uhlig in the wake of comments of his criticizing Black Lives Matters and policy reform efforts.

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Michael S. Derby

@michaelsderby

4 years

If Harry Styles in a dress has you bothered, please do not look and see what David Bowie was wearing 50 years ago.

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Michael S. Derby

@michaelsderby

3 years

Dallas Fed chief Kaplan wrapped up an hour long virtual town hall conducted by his bank's head of communications and public outreach programs with no comment on his active and large 2020 stock trades. I submitted a Q but it was not used.

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Michael S. Derby

@michaelsderby

4 years

Musicians can't make money off albums and now they can't even pull it in live, possibly for years. How any part of the industry survives is beyond me.

Yashar Ali 🐘

@yashar

4 years

Marc Geiger, one of the co-founders of Lollapalooza and until last month the booking agent for over 100 major acts like Lady Gaga, says to not expect concerts to come back until late 2021 but most likely 2022. He said this on the Bob Lefsetz podcast.

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Michael S. Derby

@michaelsderby

4 years

And that's why I said verification needed on Trump oil tweet.

Carl Quintanilla

@carlquintanilla

4 years

Kremlin Denies President Putin Has Spoken With Saudi Crown Prince: State Newswire RIA Novosti (via Dow Jones)

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Michael S. Derby

@michaelsderby

3 years

How did the media cover this story up when we were the ones who uncovered the story in the first place?

Tom Elliott

@tomselliott

3 years

Dallas’ Federal Reserve president, Robert Kaplan, has made a fortune actively trading stocks while enjoying access to insider information thanks to his perch at the Fed. Another story the media covers … up.

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Michael S. Derby

@michaelsderby

4 years

"His ex-wife turned him in."

Jim Roberts

@nycjim

4 years

CAPITOL RIOT ARREST UPDATE: *Larry Rendell Brock, a Texas man who was photographed in tactical gear on the Senate floor, surrenders to the FBI. *His ex-wife turned him in after seeing photos of riot.

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Michael S. Derby

@michaelsderby

4 years

President feuding with the terminal now.

Donald J. Trump

@realDonaldTrump

4 years

In the highly competitive world of high tech, how come nobody has ever challenged Mini Mike Bloomberg and his very average, & supposedly outdated, “stuff” that he sells to so many? Did he use his position as Mayor of New York to create what is now a monopoly? Just askin’?

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Michael S. Derby

@michaelsderby

2 months

The only thing that matters now for selecting a president is character and responsibility, as a president now appears unbound in how they use power.

Kyle Griffin

@kylegriffin1

2 months

A jury found that Trump committed 34 felonies to help win the White House in 2016. After committing those crimes, once he took office, Trump then appointed three Supreme Court justices. Those justices, along with the three other conservatives, then delayed — for months —

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Michael S. Derby

@michaelsderby

1 year

The first numbers are out for Fed emergency lending in wake of SVB collapse. Discount window borrowing rockets to new record of $152.9 bln, busting GFC peak, while new banking lending facility sees $11.9 bln. Fed also extended $142.8 bln to help FDIC.

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Michael S. Derby

@michaelsderby

4 years

Damn. JP Morgan: "We are slashing our forecast for real annualized GDP growth in Q1 to -4.0%, followed by an even weaker -14.0% in Q2." Has that ever happened before?

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Michael S. Derby

@michaelsderby

2 years

St. Louis Fed leader James Bullard on yield curve inversion: “I do think this time is different.”

Derby’s Take: Fed’s Bullard Says Yield-Curve Signal Might Not Be So Ominous

For St. Louis Fed chief James Bullard, when it comes to the current yield-curve inversion, it’s a case of “this time is different.”

www.wsj.com

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Michael S. Derby

@michaelsderby

4 years

Late stage capitalism: Monetizing your attack on the seat of democracy.

Pro-Trump Mob Livestreamed Its Rampage, and Made Money Doing It (Published 2021)

A site called Dlive, where rioters broadcast from the Capitol, is benefiting from the growing exodus of right-wing users from Twitter, Facebook and YouTube.

www.nytimes.com

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Michael S. Derby

@michaelsderby

1 year

Update: SVB’s Becker now off SF Fed board of directors as of today.

Michael S. Derby

@michaelsderby

1 year

Here's one for the Fed governance nerds: The SF Fed board of directors currently counts Greg Becker of SVB Financial Group, as a class A director. His bank was taken over by the FDIC today.

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Michael S. Derby

@michaelsderby

4 years

As Fed deals with pandemic driven coin shortage, the central bank is literally operating on a scale of trillions of dollars down to the penny.

U.S. Experiencing Coin Shortage Due to Coronavirus Pandemic, Powell Says

Coins are in short supply in the U.S. and the central bank is working to fix the situation, Fed Chairman Jerome Powell said.

www.wsj.com

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Michael S. Derby

@michaelsderby

3 years

The Fed's newest governor offers an uncomfortable truth about the central bank's massive balance sheet: “We have no economic theory of how large the central bank’s balance sheet should be. I’ve never seen it."

Derby’s Take: As Fed Balance Sheet Grows, Questions About Its Impact Remain

The Federal Reserve’s newest governor this week pointed to an uncomfortable truth about the central bank’s multitrillion-dollar balance sheet: Policy makers don’t know for sure how it affects the...

www.wsj.com

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Michael S. Derby

@michaelsderby

4 years

Oxford Economics cautionary note on June jobs data: "While the labor market recovery has surpassed expectations, it has only recouped three out of every ten jobs lost."

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Michael S. Derby

@michaelsderby

3 years

Been covering the Fed for quite some time, never would have thought I'd hear officials weighing the merits of reparations for racial discrimination.

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Michael S. Derby

@michaelsderby

3 years

Fed to review financial trading rules for senior leaders after it became public two regional Fed chiefs were actively trading stocks and other investments while having a seat at the monetary policy table.

Fed to Review Financial Trading Rules for Officials

The review follows news of stock trading by the Dallas and Boston Fed leaders.

www.wsj.com

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Michael S. Derby

@michaelsderby

3 years

Fed nerds, I highly recommend this @DavidBeckworth interview with Lorie Logan, who directs the implementation of monetary policy at the NY Fed.

Lorie Logan on Monetary Policy Operations, the Fed’s New Standing Repo Facility, and the Future of...

Lorie Logan is an executive vice president in the Markets Group of the Federal Reserve Bank of New York.

www.mercatus.org

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Michael S. Derby

@michaelsderby

3 years

Treasury's Yellen notes "if a country has too much debt it may drive up interest rates."

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Michael S. Derby

@michaelsderby

4 years

From last week: The Fed's regulation chief wonders whether the Treasury market, swollen by surging deficits, has gotten too big for the private sector to handle in times of stress, possibly requiring ongoing Fed interventions.

Fed Official Wonders Whether Treasury Market Can Handle Massive Issuance Alone

The Federal Reserve’s point man on financial regulation said the Treasury market has grown so large that some level of central bank involvement may need to continue to ensure orderly trading condit...

www.wsj.com

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Michael S. Derby

@michaelsderby

2 months

In case you wondered what ever happened to M.I.A. she’s now going on ultra conspiracy website Infowars selling clothes to block 5G signals. Anyway, she had some good tunes a long time ago.

M.I.A. Launched A Clothing Line To Block 5G On Alex Jones' 'Infowars'

A couple of years ago, M.I.A. compared Alex Jones’ Sandy Hook lies to celebrities advocating for COVID vaccines. Last week, the British musician went on Jones’ Infowars show to promote her new...

www.stereogum.com

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Michael S. Derby

@michaelsderby

3 years

The US appears to be heading back into recession, shortly after emerging from the last official downturn, which ended in April 2020, says @D_Blanchflower of Dartmouth College and Alex Bryson of University College London.

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Michael S. Derby

@michaelsderby

3 years

Getting so hawkish out there. @TimDuy says Fed is deeply behind curve on inflation, adds "I would not be surprised by an intermeeting move either tomorrow Friday or by Monday. I know, this is crazy aggressive."

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Michael S. Derby

@michaelsderby

4 years

Dallas Fed Kaplan asked about MMT, smiles, says: "We are doing a real time experiment” with MMT theory, says “there’s a reckoning that comes with running higher deficits. It’s not free."

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Michael S. Derby

@michaelsderby

3 years

External pressure is building on the Fed to take aggressive steps to respond to the news that Dallas Fed Kaplan and, to a lesser degree, Boston Fed chief Rosengren actively traded markets last while also helping to set monetary policy. 1/5

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Michael S. Derby

@michaelsderby

4 years

Private equity strikes again, as Guitar Center, a massive chain of musical instrument stores, goes bankrupt, swimming in debt from a Bain Capital deal done years ago.

Guitar Center expects to file for bankruptcy after debt plan

Guitar Center, based Westlake Village, has around 300 stores across the U.S. It also owns brands including Music & Arts, which has more than 200 locations specializing in band and orchestral in…

www.dailynews.com

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Michael S. Derby

@michaelsderby

4 years

Morgan Stanley sees 30% GDP drop in second quarter, 700k March job decline and a 12.8% jobless rate in second quarter, blowing through financial crises jobless peak.

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Michael S. Derby

@michaelsderby

4 years

That reply! 😜

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Michael S. Derby

@michaelsderby

5 years

Artists get perpetually screwed in the music business.

Taylor Swift

@taylorswift13

5 years

Don’t know what else to do

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Michael S. Derby

@michaelsderby

3 years

Indeed, I may have kicked the door open, but once it was open, other folks did great work as well.

Heather Long

@byHeatherLong

3 years

Today, something very rare happened: 2 Federal Reserve leaders "retired" early. This happened largely b/c @michaelsderby of the WSJ put a big spotlight on the personal trades the Dallas and Boston Fed presidents did in 2020. Other stories soon followed. Journalism matters.

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Michael S. Derby

@michaelsderby

3 years

Fed's Rosengren warns: "In the United States no one is really responsible for financial stability."

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Michael S. Derby

@michaelsderby

4 years

Kocherlakota on Fed race problems: “White people, by contrast, regularly rise to the position of Fed governor with much weaker qualifications. Only two of the current five, who are all white, have PhDs in economics. Two have no economics degrees.”

How Structural Racism Has Shaped the Fed’s Leadership

Black candidates face higher hurdles to get the top jobs.

www.bloomberg.com

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Michael S. Derby

@michaelsderby

4 years

Listening to Powell, it again strikes me that you've got to give props to @Fed_Up_Campaign . They pushed the Fed very publicly, including at Jackson Hole, to take a more expansive view on employment progress. It took time, but those demands are now seen in Fed thinking.

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Michael S. Derby

@michaelsderby

1 year

Here's one for the Fed governance nerds: The SF Fed board of directors currently counts Greg Becker of SVB Financial Group, as a class A director. His bank was taken over by the FDIC today.

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Michael S. Derby

@michaelsderby

4 years

Minneapolis Fed leader Kashkari says economy's resilience to pandemic is overrated, says instead "our toleration for death is much higher than I thought” as the economy powers through the crisis.

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Michael S. Derby

@michaelsderby

3 years

In wake of stock trading controversy, Boston Fed leader Rosengren announces retirement effective Sept. 30, cites health condition.

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Michael S. Derby

@michaelsderby

2 years

Report card

Mehdi Hasan

@mehdirhasan

2 years

1. It's astonishing how wrong so many of the predictions of a 'red wave/tsunami' were. I for one am fed up with pundits and commentators getting things so, so wrong & then just... moving on. So here's a thread/reminder of some of the worst midterm predictions. Read/share/enjoy:

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Michael S. Derby

@michaelsderby

4 years

Fed Gov Brainard: "The economy is far away from our goals in terms of both employment and inflation, and even under an optimistic outlook, it will take time to achieve substantial further progress...The current pace of purchases will remain appropriate for quite some time."

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Michael S. Derby

@michaelsderby

2 years

Wonder if there will be a future George Orwell among them.

Anastasiia Lapatina

@lapatina_

2 years

Ukraine’s first International legion of territorial defence forces– fighters from the US, Mexico, India, Sweden, and more.

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Michael S. Derby

@michaelsderby

4 years

@sam_a_bell @SenatorReid @ModeledBehavior I'd started to discount UFO stuff because I figured if Trump got briefed no way he'd keep it a secret. But who knows?

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Michael S. Derby

@michaelsderby

2 years

A group of Democratic senators is worried the Federal Reserve's new ethics code isn't strong enough and lacks penalties for those who break it, and are calling on the central bank to address this issue.

Democratic Senators Press Fed to Add Teeth to New Central Bank Ethics Rules

A group of Democratic senators is pushing the Federal Reserve to strengthen new central bank ethics rules and add consequences for those who break them.

www.wsj.com

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Michael S. Derby

@michaelsderby

2 years

SF Fed Daly: "We have to acknowledge and understand the impact that raising the interest rate or dollar appreciation against other currencies has on global growth and on global financial conditions, because ultimately, those things feed back into onto the U.S."

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Michael S. Derby

@michaelsderby

4 years

It was a good election if you like to do drugs.

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Michael S. Derby

@michaelsderby

1 year

The 12 quasi-private regional Federal Reserve banks, currently exempt from FOIA lows to the consternation of critics, have announced a new transparency push today.

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Michael S. Derby

@michaelsderby

5 years

The Fed's next challenge? A shortage of Treasury bills that may force them to buy longer-dated governments. It could reinforce market view that balance sheet purchases are QE, not technical, as Fed says.

Derby’s Take: Looming Treasury Bill Shortage Creates Problem for Fed

The Federal Reserve may soon face conditions that could make its technically-driven balance sheet efforts look even more like the stimulus campaign many in the markets think it is because the Fed may...

www.wsj.com

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Michael S. Derby

@michaelsderby

4 years

The United States is about to fly a helicopter on the surface of another planet.

Joey Roulette

@joroulette

4 years

Ingenuity phones home. The helicopter's first status report received 6:30pm ET today indicated a nominal status. "With this positive report, we will move forward with tomorrow’s charge of the helicopter’s batteries.”

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Michael S. Derby

@michaelsderby

2 years

Omair Sharif of Inflation Insights flags surging booze costs in CPI that are “the fastest increase over the first half of any year since at least 1993. The cruelty of this report knows no bounds.”

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Michael S. Derby

@michaelsderby

3 years

Dallas Fed Kaplan resigns, leaves bank effective Oct. 8. Says "During my tenure, I have adhered to all Federal Reserve ethical standards and policies. My securities investing activities and disclosures met Bank compliance rules and standards."

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Michael S. Derby

@michaelsderby

5 years

The Fed added $82 billion in temporary money to financial markets Tuesday and said it would keep going with repo operations for at least another month, which is longer than officials once expected.

Fed Adds $82 Billion to Financial Markets

Big banks’ demand for longer-term Federal Reserve liquidity flared up again on Tuesday, on a day where the central bank extended its plans to intervene in markets into mid-February.

www.wsj.com

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Michael S. Derby

@michaelsderby

4 years

When will the economy return to normal? Atlanta Fed's Bostic says, "the real answer is, I have no idea."

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Michael S. Derby

@michaelsderby

2 years

This might finally kill the site off for most folks.

Casey Newton

@CaseyNewton

2 years

NEW: Twitter has a plan to force you to opt in to personalized ads to continue using this app. @ZoeSchiffer and me in @platformer :

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Michael S. Derby

@michaelsderby

2 years

KC Fed pretty bullish on the weed industry: "The emergence of the industry has led to higher employment and stronger demand for commercial real estate. In addition, tax revenues have increased as marijuana sales have grown."

Marijuana Industry Has Boosted Economic Activity in the Tenth Federal Reserve District

Since Colorado became the first state to open recreational marijuana stores in January 2014, the marijuana industry has expanded across the nation and to other states in the Tenth Federal Reserve...

www.kansascityfed.org

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Michael S. Derby

@michaelsderby

2 years

RIP Keith Levene of Public Image Ltd. His influence cannot be overstated--those first few PIL albums, his metallic guitar playing, were the pinnacle of post punk.

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Michael S. Derby

@michaelsderby

2 years

A 100% solid question for Fed chair Powell today is how many people he's willing to put out of work to get inflation down, not how many he and his colleagues expect to put out of work.

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Michael S. Derby

@michaelsderby

3 years

Still have my badge from the NABE conference at the WTC on 9/11/01.

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Michael S. Derby

@michaelsderby

4 years

These border guards are operating about 80 miles from the edge of the US as defined by the Pacific Ocean, and just under 300 miles from the Canadian border, based on Google maps data.

CBP Mark Morgan

@CBPMarkMorgan

4 years

. @CBP will continue to arrest the violent criminals that are destroying federal property & injuring our agents/officers in Portland. CBP will restore and maintain law & order.

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Michael S. Derby

@michaelsderby

4 years

Minneapolis Fed leader @neelkashkari just said his wife got laid off from her job due to the coronavirus crisis, says it was "quite a shock for her and quite a shock for us."

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Michael S. Derby

@michaelsderby

3 years

Interesting gun thread: "What did happen was a national epidemic of fear, one that allowed expansion of new category: rifles for hunting people."

Mark Sumner

@Devilstower

3 years

Hi, there. I'm a gun owner. I have in my house, right at this moment: 2 pistols, 2 rifles, and 3 shotguns. Which is a lot, especially considering that my wife has never touched any of them. I'd like to talk to you about why America's obsession with AR-15s is just so damn odd. …

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Michael S. Derby

@michaelsderby

3 years

Minneapolis Fed chief Kashkari is not a fan of the Larry Summers take on Fed policy.

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Michael S. Derby

@michaelsderby

4 years

@yashar Up through Achtung Baby they were truly great, and just about no band, even the greatest, has a run much longer than that.

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Michael S. Derby

@michaelsderby

2 years

New York Fed Model Sees High Probability of Hard Landing for Economy

The U.S. economy is very likely on a path to shrink this year and next, a Federal Reserve Bank of New York report said on Friday.

www.wsj.com

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Michael S. Derby

@michaelsderby

4 years

J.P. Morgan on the retail sales data: "All the toilet paper in the world can't clean up this report."

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Michael S. Derby

@michaelsderby

4 years

The current stimulus bill still fails to get money to those who need it most, warns two top former policymakers, who say "these one-time cash payments to households will fall far short of what is needed to cushion the blow of the economic collapse."

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Michael S. Derby

@michaelsderby

3 years

Yesterday we got news that Boston & Dallas Fed leaders would sell stock holdings to combat conflict of interest fears many had about the men's very active trading while sitting on the FOMC. Will use this thread to show the extent of trading the Dallas chief reported to his bank.

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Michael S. Derby

@michaelsderby

3 years

Fed's Powell says he's looking at the same data you are: "It’s not like we're the CIA where we have a lot of private secret information about the economy."

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Michael S. Derby

@michaelsderby

3 years

All this to create a vehicle for speculators and ransomeware criminals that still has almost no real world “money” utility.

The New York Times

@nytimes

3 years

Bitcoin’s energy use is close to half-a-percent of all the electricity consumed in the world. This is more than seven times as much electricity as all of Google’s global operations and is similar to Washington State’s consumption.

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Michael S. Derby

@michaelsderby

3 years

Pardon my language, but holy shit.

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Michael S. Derby

@michaelsderby

4 years

Next thing you know Mexico will pay for the wall...to keep Americans out.

BBC News (World)

@BBCWorld

4 years

Mexicans demand crackdown on Americans crossing the border

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Michael S. Derby

@michaelsderby

3 years

A little "show your work" here. Here's a link to the Dallas Fed code of conduct governing their employees.

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Michael S. Derby

@michaelsderby

1 year

Why America will remain awash in weaponry for decades to come, with all the pain and suffering that reality will bring.

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Michael S. Derby

@michaelsderby

4 years

Not sure if the Fed needs to act here, but my local bodega just jacked up the price of a Hershey bar from a buck to $1.50.

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Michael S. Derby

@michaelsderby

4 years

Full Fed Clarida quote on what it takes to hike rates now: "There is a maximum level of employment, it may be well lower than we thought several years ago, and it's not up to us to, you know, put people out of work based upon one model."

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Michael S. Derby

@michaelsderby

3 years

Getting a read on the economy right now is so hard the New York Fed just said it was suspending its real time Nowcast GDP tracker.

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Michael S. Derby

@michaelsderby

3 years

Fed's Powell, the first chair in sometime who is not an economist, is bullish on the profession: "Economics provides a systematic framework for analyzing and understanding the world around us.”

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