Tag Archives: The Fed

Obfuscation is Good, or How to Destroy an Economic Indicator

In her testimony to the House Financial Services Committee on Tuesday, Fed Chairwoman Janet Yellen commented that with interest rates near zero the Fed must rely on such less traditional tools of monetary policy as forward guidance and asset purchases. Asset purchases are being phased out as tapering slowly ends quantitative easing. That leaves the Read more […]

Welcome Janet Yellen

Today’s nomination by President Obama of Janet Yellen as the next chairman of the Federal Reserve is very welcome.  Yellen’s knowledge of the Fed, the banking system and the economy is second to none.  No one, except possibly Ben Bernanke, has more experience on the job. While Janet Yellen’s nomination is very likely to be Read more […]

Damage Control

Compared to a month ago, every major developed equity market is down, some by double digits while bond yields have climbed over the same period.  The U.S. markets – both stocks and bonds — are among the least damaged.  For investors the questions are when will it end?, where can one hide? and why? When Read more […]