Will the Doves Assume Control of the Fed Today?
It doesn’t even feel like the world has recovered from the hangover left by Janet Yellen and the Fed after their ill-fated and poorly timed December interest rate hike, but now, it’s FOMC announcement day again. However, unlike December when a rate increase was widely expected, the Fed is not going to take any action today. The Fed’s post-announcement commentary is what everyone will sink their teeth into for clues of future rate hikes or the committee’s possible move back […]
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Date: January 27, 2016
All Signs Point to a Horrifically Wrong Decision by Yellen & the Fed
FINALLY, or YET AGAIN, it’s FOMC statement day. Unlike every meeting since 2007, I do believe the Fed is wrongly going to raise short-term interest rates for the first time since 2006. Since 2008, my thesis has been and continues to be that the Fed should not raise interest rates until the other side of the next recession. This is your “typical” post-financial crisis recovery that’s very uneven. It teases and tantalizes on the upside and frustrates and terrorizes on […]
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Date: December 16, 2015
Ben Bernanke Cringing
New Fed chair, Janet Yellen, presided over her first FOMC meeting this week with her first press conference yesterday afternoon. In short, as much as I supported her for the position, it’s crystal clear that she is no Ben Bernanke and has much to learn. On the positive side, she was very calm and took time to give thoughtful and detailed answers. I especially liked when she stated that the glide path to tighter monetary policy was going to be […]
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Date: March 20, 2014
Bernanke’s Successor
First President Obama says that Ben Bernanke has stayed on longer than he planned. Then he slaps him upside the head by saying that he has stayed longer than he was supposed. And when given the opportunity to walk that comment back, the president not only declines but also doesn’t give Bernanke any real ringing endorsement. All very interesting to say the least! Federal Reserve Vice Chair, Janet Yellen, is the odds on favorite to succeed Bernanke next year and […]
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Date: June 20, 2013
The Most Unloved Investment
Last Wednesday, I participated in an interesting discussion on CNBC’s Closing Bell regarding what I consider to be the most “unloved” investment. Most continue to scratch their heads as to why they haven’t cratered with the trillions of the dollars our Fed has created over the past few years. But there are bigger stories at play. For years, most have thought that inflation would really kick into high gear, but that certainly hasn’t happened. You may have seen it at […]
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