One of the things giving “data-driven” central banks wiggle room on their pledge to tighten monetary policy is the fact that there are several definitions
For most of the past few years, emerging market stocks and bonds were among the favorite investments of everyone from hedge funds to pension funds
Jerome Powell, the new Fed Chairman, made his debut last week. It was jarring to see a modest, reasonable, straight-talking person in that spot after
Critics of “New Age” monetary policy have been predicting that central banks would eventually run out of ways to trick people into borrowing money. There
For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals
The past century has been an orgy of experimentation. We tried fascism, which initially looked good to some before (literally) crashing and burning. We tried
US growth, such as it is, has lately been driven by a handful of hot sectors. Car sales have set records, high-end real estate is
Good headlines just keep coming. The Chicago PMI index of Midwest economic activity jumps to its highest level in two years. The ADP employment report
At first, the idea of central banks intervening in the equity markets was probably seen even by its fans as a temporary measure. But that’s
In normal times, some asset classes are expensive others are cheap, making it easy to use historical relationships to decide where to invest. That’s not
One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and
It’s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial
Somewhere back in the depths of time the world got the idea that easy money — that is, low interest rates and high levels of
In that deservedly-famous 2006 CNBC debate between Peter Schiff and economist Arthur Laffer (in which the latter manages to be both arrogant and wrong about
This morning, US existing home sales plunged and the Chicago Fed’s national activity index turned negative. Both are obvious signs of a slowing economy. Anticipating
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