Monetary-Policy

Fed Vice Chair Clarida Trades Millions Before Rate Cuts

2020-02-27 00:00:00 +0000 UTC | Importance: 8/10

Federal Reserve Vice Chairman Richard Clarida rotated between $1-5 million from Pimco bond funds into stock funds on February 27, 2020, just one day before Fed Chair Powell’s emergency statement about coronavirus risks. Clarida sold multiple ETFs during the market’s COVID-19 downturn and …

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William Simon Establishes Petrodollar Recycling System

1974-07-01 00:00:00 +0000 UTC | Importance: 9/10

US Treasury Secretary William Simon negotiated a pivotal agreement with Saudi Arabia that established the petrodollar recycling system, fundamentally reshaping global monetary dynamics. Simon convinced Saudi Arabia to sell oil exclusively in US dollars and invest oil revenues in US Treasury bonds, …

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