CFS Monetary Measures for July 2023

Posted on August 28, 2023 by Center for Financial Stability

Today we release CFS monetary and financial measures for July 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 1.9% in July 2023 on a year-over-year basis, following a decrease of 2.0% in June.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Jul23.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) ALLX DIVM
2) ECST T DIVMM4IY
3) ECST –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) ECST S US MONEY SUPPLY –> From source list on left, select ‘Center for Financial Stability’

CFS Monetary Measures for June 2023

Posted on July 31, 2023 by Center for Financial Stability

Today we release CFS monetary and financial measures for June 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 2.0% in June 2023 on a year-over-year basis, following a decrease of 2.4% in May.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Jun23.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

The Federal Reserve needs to stay put on rates

Posted on July 24, 2023 by Lawrence Goodman

Today, the Financial Times published Sheila Bair’s Opinion piece noting that:

– The Fed should feel vindicated in its decision to pause rate rises at its policy-setting meeting last month. Although it seems poised to raise them again, the Fed should stay put.

– If the Fed does raise rates again, it could temper the impact by only raising rates on bank reserves, while leaving the rate it pays to money market funds and other non-bank financial intermediaries where it is.

We look forward to any comments you might have.

To view the full article:
https://on.ft.com/3QatT1l

Sheila Bair is a former chair of the US Federal Deposit Insurance Corporation and a senior fellow and Advisory Board member at the Center for Financial Stability.

CFS Monetary Measures for May 2023

Posted on July 6, 2023 by Center for Financial Stability

Today we release CFS monetary and financial measures for May 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 2.5% in May 2023 on a year-over-year basis, following a decrease of 3.2% in April.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_May23.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

Markets and Volatile Monetary Policy: Empirical Lessons from Banking Instability

Posted on June 12, 2023 by Lawrence Goodman

Ahead of the upcoming FOMC meeting, the Fed is dealing with another problem of its own creation. The stock market is elevated and the economy and inflation are on the descent.

Monetary policy meaningfully contributed to the distress at the Silicon Valley Bank and recent swings in financial markets.

“Markets and Volatile Monetary Policy: Empirical Lessons from Banking Instability” offers a solution for officials and an opportunity for investors to profit.

We look forward to any comments you might have.

To view the full article:
https://centerforfinancialstability.org/research/Markets_Volatile_Monetary_061123.pdf

Last week, we released “A Story of Money, Inflation, and the CFS.”

A Story of Money, Inflation, and the CFS

Posted on June 6, 2023 by Lawrence Goodman

At the Center for Financial Stability (CFS), we see the world differently. We see the world through monetary goggles – not at the exclusion of other variables, but from a different perspective.

Since 1) inflation proved to not be transitory after the post-pandemic fiscal and monetary response and 2) inflation remained negligible after the big money supply increases in 2009 to 2010, our perspective is essential for:

Officials to strengthen the financial system while more effectively promoting growth and
Investors to safeguard assets, manage financial institutions, or seek profits.

We look forward to any comments you might have.

Next week, CFS will release a paper on “Empirical Lessons for the Fed from Banking Instability.”

To view the full article:
https://www.centerforfinancialstability.org/research/Money_Story_060623.pdf

CFS Monetary Measures for April 2023

Posted on May 30, 2023 by Center for Financial Stability

Today we release CFS monetary and financial measures for April 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 3.2% in April 2023 on a year-over-year basis, following a decrease of 2.4% in March.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Apr23.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

FT: Bair on Protecting Smaller Banks from Investor Nerves

Posted on May 10, 2023 by Lawrence Goodman

Today, the Financial Times published Sheila Bair’s Opinion piece “Congress must act to protect smaller banks from investor nerves. Measures to shield operational business accounts, introduced during Covid, should be triggered urgently.”

While she does not believe that universal coverage for all accounts is the answer, she does advocate for using the Transaction Account Guarantee (or TAG programme). “To promote banking competition and mitigate concentrations of power, we need to help them protect their core business accounts. Congress needs to reinstate TAG.”

We look forward to any comments you might have.

To view the full article:
https://www.ft.com/content/caae5e89-4f6f-4ec8-94c7-0c15ed4592fa

Sheila Bair is a former chair of the US Federal Deposit Insurance Corporation and a senior fellow and Advisory Board member at the Center for Financial Stability.

CFS Monetary Measures for March 2023

Posted on May 1, 2023 by Center for Financial Stability

Today we release CFS monetary and financial measures for March 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 2.4% in March 2023 on a year-over-year basis, following a decrease of 1.3% in February.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Mar23.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

Center for Financial Stability, Inc.
1120 Avenue of the Americas, 4th floor
New York, NY 10036
info@the-cfs.org

CFS Monetary Measures for February 2023

Posted on April 3, 2023 by Center for Financial Stability

Today we release CFS monetary and financial measures for February 2023. CFS Divisia M4, which is the broadest and most important measure of money, fell by 1.3% in February 2023 on a year-over-year basis, following a decrease of 0.8% in January.

For Monetary and Financial Data Release Report:
https://centerforfinancialstability.org/amfm/Divisia_Feb23.pdf

For more information about the CFS Divisia indices and the data in Excel:
https://centerforfinancialstability.org/amfm_data.php

Bloomberg terminal users can access our monetary and financial statistics by any of the four options: