The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell this week that signaled easier monetary policy could be implemented later this month.
With the Fed's critical July meeting - where equity bulls hope to see the central bank deliver the 50 bp cut to the Fed funds rate that President Trump has demanded - just weeks away, Fed Chairman Fed Powell will sit for his biannual testimony before
What a unique situation we get to witness over the next two days. The market assumes that the FOMC meeting is being held early. And that is largely true. With the one caveat that if the reaction of asset prices isn't to their liking they will get a
When people talk about the economy, they generally focus on government policies such as taxation and regulation. For instance, Republicans credit President Trump's tax cuts for the seemingly booming economy and surging stock markets. Meanwhile, Dem
To cut or not to cut is no longer the question. Now the question is the quantity, magnitude and timing of rate cuts for the rest of the year.
Echoing April's data, Personal Income rose more than expected in May and Personal Spending rose less than expected. Income rose 0.5% MoM (better than the 0.3% MoM expected) Spending rose 0.3% MoM (worse than the 0.5% MoM expected)
Last week, I discussed the Fed's recent comments suggesting they might be closer to cutting rates and restarting "QE" than not.
Trump Blames Fed For Strong Dollar, Says Interest Rates "Way Too High"
Chris Duane on -Fed, Trump, China and Hyperinflation
With less than a week to go before the Fed begins its next two-day policy meeting, President Trump is again lambasting the Powell-led central bank for having the temerity to raise interest rates and attempt to start unwinding its balance sheet.
The Fed's unprecedented attempt to hike rates out of the greatest recession since the Great Depression is over: and whether the Fed cuts in two weeks, or July, the futures market indicates a greater than 90% likelihood of at least one 25 bps rate cut
Last Friday, when discussing the potential consequences of what would happen if the Fed cuts rates, and why BofA believes that such an act would represent a huge risk to the market and economy, is that following the May slump, the foundations for the
While the Fed may be surprised that low income workers aren't as enthused about inflation as they are, we are not.
For months, President Trump has been pushing The Fed to cut interest rates, lambasting them for raising rates last year "slowing us down."
Powell gave a speech today showing his resolve to support the markets. He suggested retiring the word "unconventional".
Dovish Powell Slams Yields, Dollar As He Opens The Door For More "Unconventional" Measures
Federal Reserve Chair Jerome Powell gave a speech a couple of weeks back that showed that financial regulators have learned many lessons from the 2008 financial crisis, but not the most important one, namely:
While modern monetary theory has provided some distraction for public and commentators alike, the war on cash goes on
A few short weeks ago, the economy seemed to be growing, the trade war looked winnable and the Mueller Report appeared to take presidential impeachment off the table. And then...
I recently discussed one of the biggest potential "flash points" for the financial markets today - corporate debt. What I find most fascinating is how quickly many dismiss the issue of corporate debt with the simple assumption of "it's n
In late 2018 the US stock market tanked, in effect holding a gun to its own head and threatening to pull the trigger unless the Fed stopped raising interest rates.
A US Congressman wants to ban Bitcoin for threatening the Federal Reserve
The federal government did not need to take full control of the money supply to restore the economy.
As far as we can tell Alan Greenspan was right only a single time after he took the helm of the Fed in August 1987.
St Louis Fed researchers concocted a scheme to pay banks still more free money, but this time hiding all of it. At the current rate of 2.35%, the Fed hands out about $33.58 billion in free money to the banks.Interest Rate on Excess Reserves
The Federal Reserve, by manipulating interest rates and creating money out-of-thin air, produces economic bubbles that must always end in painful economic busts. Have you ever noticed that Fed officials never actually acknowledge any of this? They ne
Economist Judy Shelton, a Trump economic advisor and a gold standard advocate is rumored to be Trump's next Fed pick.
The Federal Reserve escalated its warnings about the perils of risky borrowing by businesses Monday, saying firms with the worst credit profiles are the ones taking on more and more debt. The Fed also left a question unanswered: Is it going to do any
Before 2009, the Fed did not pay interest on banks' excess reserves held at the Fed.
Some debates fizzle out quickly, while others linger. This year, the Fed's policy and the outlook for China have dominated macro conversations. The latest iteration of these debates centers on potential shifts in the Fed's and China's policy st