The Dual Mandate and QE3
Some astute commentators have recently noted that while the Fed’s highly stimulative monetary policy is in keeping with their dual mandate to …
The Fed’s Response to Annual Economic Cycles
Like the second quarter of 2012, the second quarter of 2013 is looking like a big economic disappointment after a very optimistic …
The Fed’s Policy Timeline
The release of the March FOMC Minutes has brought renewed discussion of when the Fed will slow and eventually halt their asset …
The Erosion Of Central Bank Independence
Over the last couple months a number of news stories and editorials have pondered the decline of central bank independence. These stories …
The VIX As A Measure Of Uncertainty, Not Volatility
For those of you who don’t know, the VIX is The Chicago Board Options Exchange Volatility Index. It measures the cost of …
Economic Risks and The Fed’s Next Steps
Over the last few weeks markets have been presented with myriad new data about the state of the economy. The Dow is …
Austerity Is Bad For The Economy…And The Sequester Is Even Worse
With the “sequester” upon us, it is time to examine the economic impact of austerity. The argument generally states that governments must …
This Is Not A Currency War
In both September and October of 2012 I wrote articles examining whether the Federal Reserve was engaged in a global currency war …
QE3 To “Taper Off” In Second Half Of 2013
Last week I wrote a post about timing the end of QE3. Since that time several Fed officials have spoken publicly about …
Another Round Of Washington DC Let’s Make A Deal!
Despite the fact that over the past week news networks have almost exclusively covered cabinet post confirmation hearings and blizzard forecasts, another …