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%…
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…
When Good News Is Bad News
The U.S. has clearly overcome the financial crisis, even as many other countries continue to struggle, but the impact on investments is sometimes perverse. As the Fed lowered interest rates,…
We May Be Approaching the Longest Bull Market in History
As we’ve previously noted, records are meaningless. Still, we’d rather be living through the longest bull market in history than the longest bear market — and that seems to be…