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Desmond LachmanUSA TODAY |
There is good news and bad news on the inflation front. The good news is that inflation has come down from its May 2022 high of 9 percent to close to...
H. L. Mencken, the late American journalist, famously wrote that “Democracy is the theory that the common people know what they want, and deserve to...
Albert Einstein is said to have remarked that “Insanity is doing the same thing over and over and expecting different results.” We have to wonder...
At long last, it seems that the Federal Reserve has smelt the coffee that it was keeping interest rates too high for too long for the economy's good....
At a time when the economy is showing clear signs of slowing and when the banking system is facing serious problems with its commercial real estate...
If there is one thing we know about monetary policy, it is that its effects are not often felt until after long and variable lags. In general, it...
Mark Twain is often credited with saying that history does not repeat itself, but it does often rhyme. He might well have been talking about the stock...
The Federal Reserve is no stranger to doing too little too late when it comes to monetary policy. This makes it all the more regrettable that today,...
Today’s stronger-than-expected GDP numbers make it very unlikely that the Federal Reserve will start an interest rate-cutting cycle at its policy...
Milton Friedman famously taught that monetary policy operates with long and variable lags. By this, he meant that the effects of raising or lowering...
Milton Friedman famously taught that monetary policy operates with long and variable lags of anywhere up to eighteen months or two years. Jerome...
In the run-up to this year’s presidential election, President Biden, like previous incumbents, would like the Federal Reserve to cut interest rates....
So much for the soft economic landing. The disappointing consumer price inflation numbers released on April 10 suggest that inflation will not come...
When it comes to economics, there are few things about which we can be entirely sure. However, following today’s stronger-than-expected employment...
There is an old Wall Street joke about a man who jumped off the Empire State Building; when asked at the 40th floor how he was doing, he replied,...
As Harvard’s Kenneth Rogoff and Carmen Reinhart said in their book “This Time Is Different: Eight Centuries of Financial Folly,” unless...
It is often said that generals tend to fight the last war. Something similar might be said of Jerome Powell’s Federal Reserve. At a time when both...
This week, there has been some good and some bad news about our economy. The good news is that the economy continues to create jobs at a highly...
Mark Twain allegedly said, “History never repeats itself, but it often rhymes.” He might very well have been talking about today’s Federal...
Wall Street traders are fond of saying that the consensus economic view is seldom proved correct. Today’s stronger-than-expected GDP numbers and...
The Dow closed Monday above 38,000 for the first time, and the S&P 500 had a record finish too.
Anyone doubting that China has pursued an unsustainable growth model need only look at its property and credit market bubble.
When Henry Kissinger asked for his opinion about the influence of the French Revolution, Chinese premier Zhou Enlai purportedly replied that two...
On Tuesday, the Treasury Department reported that the public debt has now topped $34 trillion.
There is an old Wall Street joke about a man who jumped off the Empire State Building. When asked how he was doing while passing the fortieth floor,...
Shortly after the 2008–2009 Great Economic Recession, an apocryphal story circulated about the captain of the Titanic. When asked in the...
There was some good news and some bad news coming out of yesterday’s Federal Reserve interest rate-setting policy meeting. The good news is that the...
If the past is any guide, when the Federal Reserve meets next week, of one thing we can be sure. The Fed will continue to adhere to a strictly...