Expectations of when the Fed will hike interest rates are driving the markets. However, no interest rate increase is likely to come from the Fed until at least June–if not farther out–according to Fed statements following the March FOMC meeting. This means that the federal funds rate will remain at the target of zero to
It is becoming even more clear that Establishment economists are now equating the rate of inflation to prosperity. Across the board, they are clamoring for the Fed to take action that will result at least 2 percent inflation.
Charles Plosser and Richard Fisher, presidents of the Philadelphia and Dallas Feds, respectively, announced plans to retire, leaving the Fed in the hands of inflation doves who seemingly have no fear of inflation.
Precious metals are now three years into what I believe is a correction in a very long bull market that has still further to go. Yet suffering through such dismal price action after ten years of rising prices is trying, despite predictions of higher prices. I have one client who regularly emails me with questions
In “Bubbles, Bubbles Everywhere” John Mauldin says he’s not predicting a stock market top but offers strong evidence that stocks look “toppy.” Excerpted from the piece: Humans Never Learn
The demand for gold is largely driven by people’s desire for jewelry and artistic creations from the pure, soft metal. This is particularly important in Asian countries such as India where it plays a strong role in the culture and religion. But as we also know, from the reports by Vietnamese “boat people” who escaped
In the 1960s, I attended the University of Chicago and spent many hours with Milton Friedman and graduate students in his economics department. They called themselves “the Chicago school,” and they stood apart from the professors of economics at Harvard, MIT, Stanford, et al. Those were the days of High Keynesian economics. The Chicago school
Central planners and their minions rarely–if ever–admit the failures of their programs. In fact, they rationalize and even support their continuations when the schemes fail, laying blame on “the markets” or someone else’s inability to recognize the brilliance of their interventionist schemes. Martin Wolf, the Financial Times chief economics commentator, recently lamented the lack of
According to Mark Hamrick, bankrate.com economist, there is an accepted theory by Fed critics that the Fed had JFK killed. The only reason for Hamrick to comment on this is to paint all Fed critics as “whacko birds,” to use a John McCain pejorative. No serious Fed critics, such as former Congressman Ron Paul, his
In 5 myths debunked about the Federal Reserve, Bankrate’s Mark Hamrick points out that the Fed is audited by Deloitte Touche Tohmatsu Ltd., using generally accepted accounting principles. Therefore, the Fed is audited. Not so fast. While DTT may audit the Fed, it does not delve into the Fed’s gold holdings. DTT does not randomly
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