A Weakening Consumer and Other Signs of Economic Stress

Equity markets were subdued this week with the S&P500 and Nasdaq held at bay by a break in the upsurge in the price of Nvidia (NVDA) which, on Thursday and Friday (June 20 and 21) gave back about -6.6% in its price (but still up 155% year to date!). The table shows the results of […]

Employment Numbers Mislead, the Coming Banking Crisis, and Why Inflation Will Moderate

For most of last week (ending April 5th), financial markets were worried about the upcoming employment report, and when markets fret, the indexes languish. But after Friday morning’s “strong” (on the surface) employment report, those markets breathed a sigh of relief and reversed a major portion of the week’s losses. Still, the week ended showing […]

Is There a Social Agenda in Yellen’s Monetary Policy?

Recently released Federal Open Market Committee (FOMC) minutes (special strategy meeting) leaves me with the impression that there is not unanimity of thought among the participants that there is significant labor market slack.  In many Fed districts, labor markets appear to be tight.  Anecdotal evidence collected in these districts indicates that businesses are finding that […]