Let’s Talk About QE and Assflation
I was on Twitter talking about how Donald Trump knows nothing about monetary policy and how Jerome Powell and the Fed should ignore him. It’s true. Trump really knows nothing [ … ]
Practical Views on Money
I was on Twitter talking about how Donald Trump knows nothing about monetary policy and how Jerome Powell and the Fed should ignore him. It’s true. Trump really knows nothing [ … ]
Did QE work? That remains one of the most common questions in finance and economics. My answer is simple – it depends! I know, that’s not a super helpful answer, [ … ]
The Federal Reserve reported a massive $97.7B in net income for the year 2015 thanks primarily to the income the Fed earned on its asset holdings via QE. And while [ … ]
Here’s Paul Krugman confidently declaring that the Fed doesn’t even indirectly influence the broad money supply via QE: I do think Glasner misses a point when he says that: “the [ … ]
Over the course of the last 7 years there have been a series of excuses for why bad inflation predictions turned out to be bad. The most prominent excuse is that [ … ]
Stephen Gandel has an interesting piece in Fortune this week on Warren Buffett and interest rates. He writes: Buffett said that he wouldn’t have predicted that interest rates could have [ … ]
European QE is here. The question is, will it work?
The following chart from a recent Societe Generale research piece really jumped out at me. It shows the Volatility Index during the various iterations of QE. And if one were [ … ]
Here’s another perspective of the chart I posted the other day showing break-evens, the difference between bonds and TIPS. This one is from Martin Enlund and Nordea Markets. It shows [ … ]