Valentines From the Fed
What a fantastic idea! When University of Pennsylvania economist Justin Wolpers suggested Federal Reserve Valentines, the Fed and others responded.
The San Francisco Fed:
- “I’m going to extraordinary measures to increase your stimulus.”
- “My love is elastic; my commitment too big to fail.”
The Atlanta Fed:
- “Being with you hikes my pulse by several basis points.”
The Philadelphia Fed:
- “Love me Tender. I have no cents when it comes to you!”
- “My initial projections never forecast someone like you would be in my next quarter.”
- “Your equation is deriving me crazy.”
- “Like fiat money, our love is built on trust.”
- “I’ll be your lover of last resort.”
- “You’re my gold standard.”
- “There’s nothing irrational about my exuberance for you.”
- “I’d like to borrow you overnight and then hold you to maturity.”
You can see lots more at #FedValentines.
The Economic Lesson
An independent agency, the Federal Reserve oversees monetary policy. Through its basic tools that recently have expanded considerably, it expands and contracts the supply of money and credit in the U.S. economy.
An Economic Question: You might enjoy visiting this Fed website to determine your own monetary response to different economic scenarios.