Part one of a two-part series on the repo market. “A lot o’ people don’t realize what’s really going on. They view life as a bunch o’ unconnected incidents ‘n…
Mismeasuring Inflation
Part two of a two-part series on the Fed’s approach to inflation. In our last post we noted the Federal Reserve Board’s obsession with trying to achieve 2% inflation. Not…
If You Think Inflation Is Too Low, You Must Be an Economist
Part one of a two-part series on the Fed’s approach to inflation. Part two will appear next week. There’s probably not a consumer in America who worries about prices being…
The Fed’s Fundamental Failure
We can debate how much impact massive Fed intervention had on the economy as it recovered from the Great Recession, but one thing that’s undebatable is that the Federal Reserve…
Back to ZIRP?
During the Obama Administration, the Federal Reserve Board held interest rates close to zero for seven years. The economy stagnated. But now, with the benchmark federal funds rate at 2.25%…
The Real World Standard
Last week, we wrote about the “Professor Standard” for Federal Serve Board appointments. Today, we look at efforts to change that standard. Former presidential candidate Herman Cain and Stephen Moore,…
The Fed’s “Professor Standard” Flunking Out
The Federal Reserve Board’s academic approach to managing the economy has been flunking out. Some are making the argument that the Federal Reserve Board could use a fresh perspective –…
Fed Driving in Reverse – Part 2
While the Federal Reserve Board may have contributed to December’s market swoon, it also played a role in the stock market’s best January performance in more than three decades. In…
Fed Driving in Reverse – Part 1
Driving a car in reverse is much more difficult than driving it forward. You need to look behind you or constantly check the rear-view mirror (or camera) and try to…
The Great Recession Still Having An Impact
Perhaps the most lasting impression of the Great Recession is that it made $1 trillion seem small. It seemed like a financial apocalypse, as the U.S. stock market lost half…