London’s Goldsmith-Bankers

           Banks are rather curious institutions. While we may not recognize it today, the idea that your money is safer in the hands of a stranger is a tough sell. If a random person came up to you on the street and offered a quarter percent more interest for your savings, claiming his vault was more

Exchange Alley

           Long before New York became a financial capital of North America, let alone the world, London already had the institutions befitting a city of finance and commerce. The Royal Exchange had been founded by merchant and advisor to the monarch, Sir Thomas Gresham in 1571. Lloyd’s of London would be founded in a coffeehouse a

The Bank of England’s Weathervane

           For better or worse, forecasting has become part of economists’ repertoires. But, given the delays involved in collecting and summarizing data into regular reports on the economy’s health, using more frequently compiled or even real-time data is an art in itself. Trying to make sense of the overall economy by looking at minute-by-minute movements in