Everyone keeps asking about this year’s Jackson Hole monetary conference and how it compared with the first. Well, I wrote about the first on my way to this conference, and I have to say the thirty fifth lived up to its billing as “monetary policy frameworks for the future.”
Oversea-Chinese Banking Corp Limited (SGX: O39) is one of Southeast Asia’s largest banks with total assets of nearly S$400 billion at the moment. It is also one of the largest stocks in Singapore’s market with its market capitalisation of S$35.9 billion.
First, banks have partially withdrawn from the mortgage game after facing swathes of new rules and $110 billion of fines for misconduct. They still own mortgage-backed bonds and they still make home loans to wealthy folk, which they keep on their balance-sheets.
Much of the world, especially the advanced economies, has been mired in a pattern of slow and declining GDP growth in recent years, causing many to wonder whether this is becoming a semi-permanent condition – so-called “secular stagnation.”
quoting John B. Taylorvia e21, Economic Policies for the 21st Century
Sunday, August 28, 2016
On Friday Federal Reserve Chair Janet Yellen presented the opening remarks for the Kansas City Fed’s prestigious annual conference in Jackson Hole, Wyoming. She took the opportunity to outline what she sees as a strengthening argument in favor of tightening monetary policy.
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.