monetary policy

Interest Rates, Faith, and Democracy

by on December 15, 2015

What a pickle!

The Federal Reserve Board's meetings have become a media event. The last few days - weeks if you want to be more [more…]

Interest Rate Mania

by on October 29, 2015

People keep asking me about interest rates. I wish they would stop. The question always make me feel like mimicking Eugene Fama: rates are rates. [more…]

Interest Rates

by on September 22, 2015

The Fed's decision last week not to raise interest rates has produced a predictable burst of apoplexy in the banking industry.

So what?

Banks would [more…]

Employment Recovers

by on December 9, 2014

Just a very quick note regarding last week's employment numbers.

They were good. That's all we need to know. It's been a long time since [more…]

Five Years Already

by on September 11, 2013

Amazing. It's roughly five years since the economy tanked, since Lehmann folded, and since we began to discuss the worth or otherwise of bailouts. Five [more…]

The Deficit’s Too Small!

by on May 9, 2013

The entire conversation in and amongst our elite, whether be in Washington in big business or in the media, seems to be about the Federal [more…]

House Price Fever?

by on May 1, 2013

Yesterday's news that the Case-Shiller index continues to move upwards is not necessarily good. The index shows that home prices rose another 0.3% in February [more…]


by on April 22, 2013

Lost in all the hyperventilation last week was news of our rate of inflation

There isn't any. Or, rather, what inflation we have is small [more…]

Obama’s Pointless Budget.

by on April 10, 2013

What, exactly, is the point of the Obama budget released today? We all know that, in the context of the American political process, it has [more…]

Oh Dear: More Debt Silly Stuff

by on January 7, 2013

What is it that we text each other? OMG?

Well here's an OMG moment, one that illustrates why we will not be having a very [more…]