“Things are strongest where they’re broken.” – Louise Penny I began drafting this newsletter about the Federal Reserve in early January. The quote above is from an author I like, and at the time, it felt reflective but abstract. A few weeks later, it became far more literal when my dog injured his leg and … Continued
July 29, 2021 For the better part of the last decade, central banks around the world have battled deflation as globalization, technological innovation, and slow economic growth have weighed on prices. Efforts to stimulate economies included buying bonds and keeping short-term interest rates low. And yet, even as central bank balance sheets ballooned—and in turn … Continued
January 31, 2020 Odds are the average person does not spend a lot of time thinking about monetary policy, but what central banks have done over the last decade should not be overlooked or taken for granted. Economically speaking, this past decade will go down in history as being the decade of central bank intervention … Continued
In Wall Street’s eyes, there are few things more troubling than uncertainty, which has been in no short supply during this current economic cycle. The severity of the recession, the slow recovery, atypical reaction of some asset classes and the level and degree of central bank intervention have all contributed to elevated concerns. One of … Continued
“It was on this day when a solemn vow was made that the peacock became the great object of admiration, and whether it appeared at the banquet given on these occasions roasted or in its natural state, it always wore its full plumage … before all the assembled chivalry … and each made his vow … Continued