How financial markets and the economy performed last time the Federal Reserve took away the punch bowl by raising its policy rate and pursuing quantitative tightening. Things worked out fine that time. Will it be different this time?Topics covered include:Where did the phrase take away the punch bowl come fromHow central bank actions can slow the economy and lower inflation.The difference between having cash and having wealthHow quantitative easing and quantitative tightening workWhat happened last time the Federal Reserve pursued quantitative tighteningSponsorsFarmTogether - Your farmland investment managerLinkedIn - Post your job for freeShow NotesAddress before the New York Group of the Investment Bankers Association of America on October 19, 1955, by William McChesney Martin, Jr.—FRASERM2—Federal Reserve Economic DataAssets: Total Assets: Total Assets: Wednesday Level—Federal Reserve Economic DataAssets: Securities Held Outright: U.S. Treasury Securities: All: Wednesday Level—Federal Reserve Economic DataAmericans Reported Strong Personal Finances Late Last Year, Fed Finds by David Harrison—The Wall Street Journal270: Repo Rates Soared—Here’s Why It MattersSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.