Ft

Another Black Monday could soon be upon us

Another Black Monday could soon be upon us


The Federal Reserve’s policies threaten America’s financial markets and economy. They run the risk of a sharp recession and the risk of a repeat of Black Monday of 1987.

At the start of the pandemic, the volume of US dollars in circulation skyrocketed. For two years starting in March 2020, the M2 money supply – a measure of cash and checking deposits in circulation as well as savings deposits and other easily convertible assets – grew at an unprecedented annual rate of 16.5%. . That’s more than three times the appropriate rate to achieve the Fed’s 2% inflation target.

Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8


Wj

Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
Back to top button