The Fed is pumping huge amounts of money into the economy: former New York Fed chief

Summary:
Zero progress here.... ie where it matters..... ZEEEEEEEEEEERRRROOOOOOOOOOO...... So what of the concern that the rapid growth of bank reserves will prove inflationary? This concern is misplaced. The Fed can adjust the interest rate it pays on bank reserves, controlling the cost of credit and influencing whether the reserves are lent out. Only when the bank reserves are lent out does the expansionary credit multiplier process start to work. The Fed controls this process because it controls short-term interest rates. They are making the typical reification error you always see with these people and are believing the accounting abstractions termed “Reserve Assets”  are real and are “lent out”...Major cognitive errors continue to be made by these people...  unqualified... The Fed is pumping

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

NewDealdemocrat writes March JOLTS report: declines in everything, fortunately including layoffs

NewDealdemocrat writes Manufacturing treads water in April, while real construction spending turned down in March (UPDATE: and heavy truck sales weren’t so great either)

Eric Kramer writes Eric Segall tells us what he really thinks about the Roberts court

Angry Bear writes Supreme Court watchers mollified themselves (and others) with vague promises