Some things never change. Apparently, the interest rate for Federal funds is one of them. To the surprise of no one – except the “experts” and journalists who have been…
Yellen’s Soliloquy: To Raise or Not to Raise
To raise, or not to raise – that is the question: Whether ’tis nobler in the mind to suffer The barbs and insults of outraged pundits and journalists Or to…
Maybe the Fed Is Just Lazy
Just last month we reported that the Federal Reserve Board’s policy statement was almost identical to its previous policy statement. Now the Fed has issued another policy statement – and…
What Yellen Should Have Said
The question reporters should be asking now is, what did the Federal Reserve Board’s Open Market Committee do for two days last week? The statement it issued based on its…
No Animals Harmed in Drafting Fed Policy Statement
Thousands of years ago, Roman soothsayers would visit the oracles and interpret the entrails of slaughtered animals. We haven’t advanced much since then. Fortunately, no animals are slaughtered today, but…
The Inflation Straw Man
“When real interest rates start to move up, that’s when the crisis could hit.” …
Another Year of ZIRP?
When the economy recovers, interest rates will go up, right? That’s been the Federal Reserve Board’s line for years now. Yet as the Fed gushes about an allegedly booming economy,…
The Year of “May”
We’re well into January, but 2014 demanded a bit of reflection before commenting. Was it a good year or a bad year? We still don’t know. We’re calling it the…
Patience Pays Off for Fed, Investors
The new word is “patient.” And it’s a humdinger. The Dow Jones Industrial Average soared more than 700 points over two days last week after Federal Reserve Board Chair Janet…