ETC/EUR

As widely expected, the Federal Open Markets Committee announced Wednesday that it will keep the Federal Funds rate unchanged. At the same time, 12 of 19 Fed officials suggested that the rate will be increased one more time this year — on November 1 or December 13. The remaining seven colleagues expect no further hike. The officials’ dot plot also showed ...

Twenty-five years ago today, two Nobel laureate economists and a famous bond trader received a $3.65bln bailout from fourteen financial institutions at the behest of the Federal Reserve. LTCM had delivered a 21% net return in its first year. 43% in the second. 41% in the third. Greed, hubris, leverage, illiquidity, and lack of imagination led to the ...