Global semiconductor production is split between the U.S. and Asia and continues to be a source of tensions in foreign policy powerplay.U.S. tech company Intel holds the biggest semiconductor market share, with around 15.6 percent of global sales being…
As the COVID-19 pandemic swept across the world, millions of white-collar workers and students were forced to work, learn and study primarily from home over the past twelve months. This change in work style has not only revived the previously slumping …
As we have entered the second year of the COVID-19 pandemic, there’s a growing transatlantic divide in public mood. While the finish line appears to be in sight for the United States, where a rapid vaccine rollout and falling case numbers have sparked …
The value of outstanding student loans in the United States has now reached $1.7 trillion, according to the Federal Reserve. That sum is owed by 45 million borrowers and it is the country’s second highest consumer debt category after mortgage debt. Cal…
A leaked internal survey from Goldman Sachs was circulating on social media last week and it shows how junior investment bankers at the company are facing gruelling working conditions. The results of the survey were also published by The Guardian and i…
Today’s Fed QE
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
I’m not fond of self-promotion, but I would like to support Jonathan Doyle’s “The Supply Side” podcast. Jonathan interviewed me this week. Click here.
I found the Powell press conference problematic. After less than glorious market responses to his recent congressional testimony and WSJ Q&A session, I would have thought some tinkering of his messaging was in order. But Powell doubled down.
Oops. Looks like the Fed’s magic (and our luck) have finally run out.