Tag Archives: jerome powell
How the Fed Chokes the Economy
There’s no outlet in the San Joaquin Valley for the salt to flush. The valley is the basin’s terminus. Thus, in this grand paradox, the relative freshness of the excess water that is keeping the farmland alive is, at the same time, the source of the salt that is killing it. Continue reading
Inflation and Chaos
Data can be contrived to tell whatever story the author desires. Data contrived by government agencies is particularly susceptible to the imposed will of the overseeing administration. Policy makers want the data to make them look good and to justify their decisions. Continue reading
Mistakes from the Past
Over the last three weeks something unexpected by the Fed has happened. The yield on the 10-Year Treasury didn’t follow the Fed’s rate cut down. Rather, it did the opposite. It went up. Continue reading
Let the Games Begin!
Monetary policy took center stage this week. On Tuesday and Wednesday, the Federal Open Market Committee (FOMC) huddled up, licked their collective index finger, held it up to the wind, and then commanded how they would intervene in credit markets. Continue reading
