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A Whiff Of Desperation
The Fed may have threaded the proverbial needle this week, but the follow through suggested tension between the "new" reaction function and markets.
In simple terms, it's going to take some getting used to, where "it" means the Committee's commitment to engineering a period of realized inflation overshoots and eschewing rate hikes even as the economy heats up.
Jerome Powell's remarks on Wednesday had a kind of "we're serious about this" feel to them, and you could pretty easily argue that's no
This article makes a case for reducing risk by raising cash in portfolios
I went for a walk through a nearby shopping center, and parked there was a bright red monstrosity, a hulking vehicle reminiscent of a Humvee crossed with a Mercedes SUV, but with ultra-low profile tires and gold wheels. I looked more closely and saw that it was a Lamborghini, the ugliest Lamborghini ever made, I reckon. Do young boys sit in class idly drawing pictures of these SUVs, the way we drew pictures of the Lamborghini Countach when I was young? I guess Lambo and Porsche and Ferrari know their markets…and I reckon also that there are more people around now who have more money than they know what to do with.