Ending QT prematurely admits that something was off. Here’s what it was, and is.
Oh Gee! What a surprise! Not. Now, let the fun begin and let it begin with us.
Perhaps too much attention was given to “one-and-done”, the knee-jerk disappointment over what everybody is saying was not enough “dovishness.” And while that may have been true as it relates to main star of the puppet show, rate cuts, the FOMC actually did deliver better theater at least with a secondary character. The latest official […]
One day does not a confirmed reversal make, but I wanted to offer a couple of gut check thoughts and chart updates.
The first rule of central banking is not to make anything worse.
The Federal Open Market Committee decided to conclude the reduction of aggregate securities holdings in the System Open Market Account two months earlier than previously indicated.
In every likelihood, the Federal Reserve today is going to join other central banks around the world who have already cut rates. It is the synchronized signal completing the turn from globally synchronized growth into a globally synchronized downturn.
The problem continues to be, I’m sure, is one of perception. Economists, politicians, and mostly central bankers have been saying for years that the real economy is the one you see in the unemployment rate. Things are booming. The labor market is awesome, even epically tight. Between last year and this year, going by the […]
What took place last year qualifies as a big deal in the world of central banking and moneyless monetary policy.
Small businesses on the precipice need only one small shove to go over the edge, and there won’t be replacements filling the fast-multiplying empty storefronts.As a generality, the average employee (including financial pundits) has no real experience o…
