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My guess is that while a poor balancesheet might cause restless sleep, it’s the thought of an incorrectly reported balancesheet that brings on night terrors. I’m not against benchmarking and norming. While benchmarks are useful inputs for compensation decisions, they shouldn’t be a straitjacket.
The interest rate set by the central bank serves as a benchmark or reference rate for banks. It reflects the bank’s assessment of potential losses it may incur and its commitment to maintaining a strong balancesheet. Indirect tax refers to taxes imposed based on the consumption, sale, or use of goods and services.
Had I suggested in 2007 that the Fed balancesheet expansion of $75 billion a month would have been considered "tightening" people would have thought I was nuts. Before the housing crash, people referred to Greenspan as " The Maestro ". At long last, the Fed has finally started to taper. Here we are. The broad U.S.
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