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 [...]

Rally! Do You Believe?

March 14, 2012

Do you believe the economic recovery is real and sustainable? Those are really two questions, and we suppose someone will want to parse our definition of “real.” The [...]