My views on inflation continue to evolve: I was correct in identifying inflation during the mid-2000s; during the post-crash 2010s...
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Since it is late on a Friday, I thought I might share some quick thoughts about the week. I have been wondering, more than usual,...
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Fed Chair Jerome Powell and the FOMC increased the Fed Funds Rate another 75 bps yesterday, to 3.75-4.0%. Markets have given back...
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Today and tomorrow the Federal Reserve will hold its 7th Federal Open Market Committee meeting of the year. It is given that we...
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My colleague Ben Carlson asked the question “Why Isn’t Inflation Falling?” There are some technical explanations, but before...
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At the beginning of each quarter, I prepare a short but in-depth conference call for RWM clients. The team & I put...
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One of the really strange things about watching Federal Reserve policy is the excess of deference that is given to the Fed’s...
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For years, we have heard that “there is no alternative” – TINA – to equities, and that thanks to the Fed, “Cash...
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“It’s the Fed’s fault!” That has been the rallying cry for so many misguided analyses and criticisms going back...
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Last week, we compared monetary vs fiscal stimulus. Understanding the differences in how each manifests in the economy is...
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