May 29, 2015
At least one indicator shows the Federal Reserve has already started tightening. Declining excess reserves confirm the Fed has the ability to change monetary policy without raising interest rates.
May 27, 2015
Spin doctors are working overtime explaining why the latest news about durable goods orders really isn't that bad.
May 22, 2015
This week, banks were fined between $5 billion and $10 billion by regulators for manipulating foreign exchange markets. News reports about the fines differ on the specific amount, but most agree that the settlements are large and will have little, if any, impact on the way the banks operate today.
May 20, 2015
Wall Street analysts are famously bullish. Few stocks are ranked "sell" because sell ratings can cost a Wall Street firm business. If an analyst at Goldman Sachs, for example, rated Wal-Mart as a sell, Wal-Mart's management might decide to use other firms to help them sell bonds.
May 15, 2015
Policy makers have no way of knowing whether those without jobs are lazy and sleeping in or depressed about their predicament and unable to get out of bed. It’s possible to argue the data provides the first insights into sleep inequality.
May 13, 2015
Market crashes never really come as a surprise. In hindsight we can always identify an event that signaled the worst was yet to come.
May 8, 2015
Unemployment was unchanged at 5.4 percent in April. Without the manipulation government economists rely on for their reports, the unemployment rate would have been 5.1 percent. Government manipulators increased the unemployment rate by ignoring 729,000 jobs that were created in April.
May 5, 2015
Federal Reserve members might be surprised that economic weakness could extend beyond the first quarter and be caused by more than bad weather. Demand in the manufacturing sector is drying up and that is a cause for concern.