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Economic and and financial news and analysis

Transitory and Now Overheating; Economists Don’t Even Know Why They Really Don’t Know What They Are Doing

What does it mean to be data dependent? The term immediately conjures up the image of studious Economists working their mathematics to perfectly calibrate the proper monetary policy response. It is attached to the Federal Reserve, and other central banks, but its application is much broader. Businesses are, obviously, data dependent and often in the…

The Failure of MacroPrudential Regulation

Perhaps the single most oppressive factor in the US economy today is the Federal Open Market Committee. Since the 2008 financial crisis, the FOMC has subsidized the US banking systems to the tune of about half a trillion dollars per year, yet the committee members insist that their policies are intended to promote job creation and economic expansion.