Seven Graphs for the Financial System
Original Report
Apropos of nothing except current (financial system) events (Fall teaching), some pictures to elicit thoughts. Debt rising fast even at full employment Stock market near peak? Fed funds rate above...
Apropos of nothing except current (financial system) events (Fall teaching), some pictures to elicit thoughts. Debt rising fast even at full employment Stock market near peak? Fed funds rate above Taylor rule implied levels. Fed credibility lower under Trump 2.0. Stablecoins after GENIUS. And (not on the syllabus), dollar reserve currency domination eroded (see Eichengreen […]
Glass House Analysis
Labor market conditions shape the lived experience of millions of working families. When jobs are plentiful, workers have leverage to demand better wages and conditions; when they're scarce, the balance of power shifts to employers. This dynamic plays out daily in kitchen tables across America, where families make decisions about whether to ask for a raise, change jobs, or accept less-than-ideal conditions out of necessity.
Central bank policy decisions made in boardrooms cascade through the economy in ways that touch everyone. A quarter-point rate change might seem abstract, but it determines whether young families can afford homes, whether businesses can afford to hire, and whether retirees see meaningful returns on their savings. The tension between fighting inflation and maintaining employment represents a fundamental tradeoff in economic policy—one that invariably creates winners and losers.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
Enjoyed this analysis?
Get the Glass House Briefing every morning—market news that actually makes sense, delivered free to your inbox.
No spam. Unsubscribe anytime.
More Stories
Microsoft Outlook and OpenAI's ChatGPT Work are experiencing user outages
OpenAI's ChatGPT Work offering was down for some users on Monday, and Microsoft said it was having issues with Exchange Online.
‘My main goal is to help people’: I’m single, 74, with $10 million burning a hole in my pocket. What should I do?
“I also own my home and an SUV outright, with no outstanding debt.”
Odd Lots: Richmond Fed CEO on How AI Is Changing Home Building
On today's Odd Lots podcast, Richmond Fed President Tom Barkin joins Joe Weisenthal and Tracy Alloway in Jackson Hole, Wyoming, to discuss the impact of AI on local communities and the US...
FTC sues Amazon, accusing the e-commerce giant of misleading advertisers
The FTC sued Amazon, alleging the company misled advertisers through a deceptive auctioning system.