Jeffrey Snider

In 1953, Milton Friedman staked his case for the demise of fixed exchange rates. The classical gold standard, he argued, had been a one-time aberration. The dramatic growth of the...

Eurodollar futures contracts are cash settled using an index tied to 3-month LIBOR. Therefore, it can pay handsomely to figure out where 3-month LIBOR will be at specific points in...

Eurodollar futures contracts are cash settled using an index tied to 3-month LIBOR. Therefore, it can pay handsomely to figure out where 3-month LIBOR will be at specific points in...

This isn’t random. Neither the crisis nor its timing. If it feels a lot like 2008 right now that’s because, in large part, nothing was learned from the first Global...

This isn't random. Neither the crisis nor its timing. If it feels a lot like 2008 right now that's because, in large part, nothing was learned from the first Global Financial...

It is very easy at times like these to slip into the old comforts of grand historical figures. Given the nature of the incidents, a viral infection of illiquidity upon the world,...

It is very easy at times like these to slip into the old comforts of grand historical figures. Given the nature of the incidents, a viral infection of illiquidity upon the world,...

As the Federal Reserve struggles desperately trying to sort out its rate policy situation, the debate still rages as to whether or not the recent small-scale asset purchase program...

As the Federal Reserve struggles desperately trying to sort out its rate policy situation, the debate still rages as to whether or not the recent small-scale asset purchase program...

In John Maynard Keynes’ The General Theory of Employment, Interest and Money, the concluding chapters deal with, among other problems, the possibility of persistently low...

In John Maynard Keynes' The General Theory of Employment, Interest and Money, the concluding chapters deal with, among other problems, the possibility of persistently low interest...

What do you do if you find your country in the midst of a currency war? For Brazil’s Finance Minister in early 2011 the response seemed clear enough. After all, it had been...

He was a bear who was surrounded by ducks, and so one day he decided to slaughter some ducks to show he was still a bear. That was how one Russian political analyst put the March...

Standing for reelection that year, the President motored up to Capitol Hill for the annual tradition of the State of the Union. Having come into office under tumultuous...

In the wake of last September’s repo outbreak, the Federal Reserve under Chairman Jay Powell decided his institution needed to do two things simultaneously. The central bank...

The name Arturo Estrella rings only specific bells whenever his name is brought up. Credited with “discovering” the predictive power of the yield curve, what Dr. Estrella...

On September 21, 2011, Ben Bernanke’s Fed announced Operation Twist. Actually, it was Twist #2 since the Fed had first thought up and executed a program like it all the way...

On September 21, 2011, Ben Bernanke's Fed announced Operation Twist. Actually, it was Twist #2 since the Fed had first thought up and executed a program like it all the way back in...

Back in January 2003, Mexico’s Undersecretary of Commerce, Maria del Rocio Ruiz, admitted to the LA Times, “We cannot export $6 jeans.” Her country was at a...

What a way to end one decade and begin another – in the same place. Though they are separated by a whole lot more than just the Pacific Ocean, they are institutions caught up...

What a way to end one decade and begin another – in the same place. Though they are separated by a whole lot more than just the Pacific Ocean, they are institutions caught up...