U.S. financial markets have been highly volatile but with little to show for investors, as opposed to traders, who make their best livings from pointless volatility, for all the swaying back and forth since the start of 2015.
If America is to shed the title of "Land of Inequality," this is how it is going to happen: by more people becoming aware of how the Fed's monetary policy affects them and demanding that it change.
Have Fed officials, including Chairs Ben Bernanke and Janet Yellen, continued to destroy the source FOMC transcripts following the Greenspan Fed officials who voted to destroy them in 1995?
For most of its history, the Federal Reserve has been dominated by bankers and orthodox economists, who kill the recovery at the first sign of inflationary risks. Happily, the Fed today is led by Janet Yellen, a very uncharacteristic Fed chair who spent most of her career as a labor economist, of all things. Yellen is aware of the changes in the structure of labor markets and is unlikely to jump the gun on raising rates, though it's always possible that she could be outvoted. The risk today is not that an improving jobs picture will set off inflation. It's that even tight labor markets, by themselves, will not generate enough pressure for wage increases, because workers have lost so much bargaining power.
The effect of unequal educational funding is to reinforce existing wealth inequalities across social class, race, gender, and region. But the most significant effect is the reproduction of these inequalities across generations.
To get back to that level and maybe even surpass it, we need someone in charge at the Federal Reserve who understands that creating conditions that increase the purchasing power of American workers' paychecks is a part of her mandate. From what she's said and done so far, it appears Janet Yellen is exactly that kind of Fed chair.
Hard as it may be for its legion of economic, political and media critics (and even some of its own members) to accept, the most recent bullish jobs report from the Labor Department looks like a ringing endorsement of Federal Reserve policies and perspectives on the economy.
The good news about the economy's improved job creation dominated the weekend's headlines. Many commentators concluded that the economy is finally shaking off the effects of the financial collapse of 2008 and the long period of stagnation that followed. But the one-year increase in wages has been only 2.2 percent, barely more than 1 percent when adjusted for inflation, and it's been a long time since most workers have seen substantial raises. In this recovery, the economy has been creating more low-wage jobs than high-wage ones. The shift from standard payroll jobs to temp and contract work continues. The uptick in the measured unemployment rate suggests that discouraged workers are only just coming back into the labor force and we are a long way from full employment. Even at the present rate of improved job creation, it will be 2017 before we get back to the pre-recession level of unemployment.
This is something that Germany, instigator of the eurozone's austerity policies, has to learn if it wants to bring Europe out of its Second Great Depression; by supporting policies that will unite Europe into a greater union, rather than cause its disintegration.
CNBC should be asking itself why on earth it continues to show such favoritism for the views of market pessimists and short sellers -- indeed, even facilitating such traders profit strategies -- at the expense of their retail TV audience.
Once a nation turns its back on a resolute determination to cultivate moral deservedness, political and financial superintendency passes to those who gain power illegitimately--a fact described eloquently by President Theodore Roosevelt.
'Twas the week before Christmas And all through the Street Not a hedge fund was buying: Instead--in retreat! They'd bet big on oil-- Now they w...
When TIME ignores so many influential women in favor of less influential men, it increases the disparity of how women are viewed in society because when they put something on the cover (and choose to ignore other subjects), people talk about it (or don't), regardless of its importance or accuracy.
With inflation still running at 1.7 percent and downside risks such as the slowing world economy, there's no excuse for the Fed to be throwing people out of work by raising interest rates. Let's hope that public pressure and an improved debate over Fed policy can keep this country moving toward full employment.
It's certainly no secret that celebrities enjoy the finer things in life. Many have used their larger-than-life paychecks to collect an impressive inventory of very fancy memorabilia. Here are 10 of the most impressive collections amassed by superstars.