Thoughts from the Frontline: Tag = "federal reserve"

Another Unstable Finger
  • March 17, 2023

Another Unstable Finger

“There’s an old saying: Whenever the Fed hits the brakes, someone goes through the windshield,” said Michael Feroli, chief economist at J.P. Morgan. “You just never know who it’s going to be.” (The New York Times, March 16, 2023)

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How It Started/How It’s Going
  • March 3, 2023

How It Started/How It’s Going

If you read and pay attention to the world, you probably know the recent past pretty well. And if you’re a history buff like me, you also know something about the more distant past.

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The Punchbowl Is Gone
  • January 13, 2023

The Punchbowl Is Gone

The Federal Open Market Committee’s 12 voting members differ on where they think interest rates should go this year. But we know they’re unanimously against cutting rates until at least 2024—or at least they were as of December, according to that meeting’s minutes.

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Year of the Pause
  • January 6, 2023

Year of the Pause

“Every new beginning comes from some other beginning’s end.” — Seneca, the Elder

“Democracy is the theory that the common people know what they want and deserve to get it good and hard.” 
— H.L. Mencken

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Recession Scale
  • December 9, 2022

Recession Scale

Economic news—and market reactions to it—increasingly resemble a tennis game. Spectators follow the ball back and forth, thinking something will happen but usually it doesn’t.

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Notes on Inflation
  • September 23, 2022

Notes on Inflation

We were a bit preoccupied here in Puerto Rico this week. Hurricane Fiona decided to camp out over the island, bringing mind-boggling amounts of rain. I am sure you have seen the flooding pictures. The entire island lost power and much of it is still down. Our oversized diesel generator, which I thought quite expensive but decided to get anyway, proved a good investment.

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Inflation Sinks In
  • September 16, 2022

Inflation Sinks In

Remember when inflation was going to be transitory? Good times. I was in that camp myself early on, as were some serious analysts I greatly respect (and still do). Then the data began to show core inflation would be stickier than expected, and I turned in my Team Transitory T-shirt. I appreciate people who admit their mistakes. We all make them.

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Labor Mysteries
  • September 9, 2022

Labor Mysteries

Politicians talk about “jobs, jobs, jobs” because a steady income keeps people happy and (mostly) voting for incumbents. Carville once told us, “It’s the economy, stupid,” and it always has been. Economies in recession are usually bad for those in power.

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Muddling Through Stagflation
  • August 19, 2022

Muddling Through Stagflation

This week I am at the Cleveland Clinic going through numerous tests. Some have not been good news. It seems lifestyle changes are needed so I can keep writing and working for many more years.

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Hubris at the Fed
  • July 22, 2022

Hubris at the Fed

Finding just the right word brings great pleasure to writers like me. As I think and write about the Federal Reserve, the word “hubris” keeps coming to mind.

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