monetary policy

Great Expectations

March 29, 2017

The market response to last week’s Federal Reserve meeting and press conference was somewhat perplexing.  The interest-rate hike itself wasn’t a surprise – [...]

Confusion Reigns

August 5, 2015

Economic data and financial-asset prices don’t always paint the same picture about the health of the economy. In fact, there can be extended periods in which the [...]

Bernanke Blinks First

July 11, 2013

In a development that we thought highly likely, Federal Reserve Chairman Ben Bernanke threw more fuel on the capital markets fire yesterday. Responding to questions about [...]