Fed Chairwoman Janet Yellen got it half right yesterday when she answered a question about how the Fed can help reduce disparities in unemployment in the states.
Really, Sweden? Well, it's just an excuse to sell off on a 30-year auction day (happens almost every one) because it panics people in...
Those brave enough to predict think that tomorrow's jobs report will show a net gain of 188,000 payroll jobs (compared with 292,000 in December) and an unchanged 5.0 percent unemployment rate.
If you thought 2015 was a crazy year for fluctuating interest rates and all the inconsistent economic data being fed to us about the state of the US ...
Waiting to cut out the deadwood ...
The global financial crisis that shook virtually every country, government, and household in the world in 2008-09 gave way to a frustrating "new normal" of low growth, rising inequality, political dysfunction, and, in some cases, social tensions. Now this new normal is getting increasingly exhausted.
As we reflect on Dr. Martin Luther King, Jr. Day, we think about African-Americans as agents of history. Well-documented gaps in unemployment rates, earnings, poverty and wealth too often lead to viewing African-Americans as bystanders to America's economy.
In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed's "independence" by tapping its reserves and bank dividends for infrastructure funding.
Now that I have your attention, we can talk about the financial service needs of the working poor comprised of the financially disenfranchised, immigrants and lower tier of the middle class and which type of banking institution is positioned to best meet their needs.
Back in August, we explained the mechanics of how the Fed can tighten policy in today's world of abundant bank reserves. Now that the first policy tightening under the new framework is behind us, we can review how the Fed did it, if there were any surprises, and what trials still lie ahead.
Future economic historians may not call the period that began in 2007 "The Greatest Depression." But as of now it is highly and increasingly probable that they will call it "The Longest Depression." So what can be done?
The answer in the New Year to the inflation conundrum may be at hand, the conundrum that has kept the Fed pushing down interest rates since the Great Recession and recovery.
The underlying support for the main interest rate increase is strengthening economic indicators, namely the increasing job growth, albeit mostly low-wage jobs. It is, however, a misrepresentation, based on questionable economic indicators, that the economy is healthy and has escaped from the "Great Recession."
In 1979, as a law clerk to a Federal district court judge in Baltimore, I earned a whopping annual salary of $17,500. For a newly minted law-school graduate, the compensation was well below the starting salary at major law firms, but I was nonetheless able to live reasonably well and, memorably, launched a wine collection that year by purchasing a bottle of 1973 Chateau Petrus.
Small business owners like me don't want guesses. We want certainty. So I'm not going to make predictions for next year. I'm going to list 6 things that are definitely, absolutely, guaranteed going to happen next year.
Weird Suits, Free Money and the True Story About How I Saved the Economy With Chocolate....oh and how I'm investing now. Winter's coming. OK, not re...