If Congress approves President Trump’s choice of Jerome H. Powell as chair of the Federal Reserve Board, it could mean more of the same. But maybe not. As The Wall…
The Incredible Shrinking Fed
Four little Fed governors, keeping markets free, …
The Fed’s Abnormalization Plan
The Federal Reserve Board has issued an addendum to its “Policy Normalization Principles and Plans” for reducing its bulked up $4.5 trillion portfolio, but there’s nothing normal about unloading $4.5…
Deceptive Pricing
If you had to believe one of the following people, who would you choose? Heather Bresch, CEO of Mylan, makers of the EpiPen: “The misconception about our profits is understandable,…
Grading on a Curve
“We do not target the level of stock prices. That is not an appropriate thing for us to do.” …
Theater of the Absurd
Vladimir: “Well? What do we do?” Estragon: “Don’t let’s do anything. It’s safer.” From “Waiting for Godot” In Waiting for Godot, two men spend more than an hour talking nonsense…
Something’s Rotten …
“That it should come to this!” Hamlet, Act I, Scene II Any student…
Don’t Bet On It
“ … human beings have a natural tendency to manage risk after the fact.” Michael…
The Big Disconnect
Imagine being stuck in a blizzard. You look out your window and can see the snow piling up outside, yet the meteorologist on your TV is forecasting continuing sunshine and…
Abnormalization and QE4
It seems to be a policy of the Federal Reserve Board to never use a two-syllable word when a four- or five-syllable word is available. So we have “quantitative easing”…