Following yesterday’s case for a continuing bull market, here’s a case for the bears from Martin Feldstein, chairman of the Council of Economic Advisors under President Reagan. Feldstein wrote in…
Powell Appointment Could Mean Less Regulation
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…
Fed Report Shows Income Inequality Increasing
The Federal Reserve Board, which has done more than anyone in history to increase income inequality, has just issued a new report on income inequality. That the inequality gap is…
The Incredible Shrinking Fed
Four little Fed governors, keeping markets free, …
Gold Can Be Fickle
“Nobody really understands gold prices, and I don’t pretend to understand them either.” …
The Peter Pan Economy
Lowering interest rates is not necessarily a bad thing. It can make borrowing cheaper, which – at least in theory – will stimulate business investment. It can weaken the dollar,…
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…
The Fed Thinks Higher Prices Are Good For You
The Federal Reserve Board’s quantitative easing program was an unprecedented monetary experiment that dumped trillions of dollars of new money into the economy. Historically, adding that much money to the…
The White House as Animal House
Why has the stock market been going bonkers, even as interest rates have begun to rise? CNBC sums it up in two words: “animal spirits.” Wall Street types aren’t talking…