Society & Culture
PE54: Where was the hyperinflation in 2008? (IX)
2023-04-11
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This is the fifty-fourth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
02:00 Exploding reserves (and balance sheet)
03:20 What happens when supply outstrips demand...
04:35 "Tool 1:" Interest on required reserves
09:09 "Tool 2:" Interest on excess reserves
14:12 Zero interest rate policy years
15:00 Trying to "normalize"...
Here we look at the Federal Reserve's weekly balance sheet versus its base policy interest rate in the 1980s until and just after the Global Financial Crisis, which at this time morphed from being the Discount Rate, to the Fed Funds Rate.
Many were confused why such extraordinary money printing by the US central bank did not result in hyperinflation... the answer was a new policy tool of the Federal Reserve: Interest on bank reserves.
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Show content is not investment or financial advice in any way.
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