Tuesday was the first round of the Federal Reserve Chairman Jerome Powell’s semi-annual testimony to Congress. The Senate Banking Committee questioned Powell about recent Fed decisions and looked for some guidance as to how the FOMC viewed the current state of the domestic and global economy. There were many questions about the impact on the economy from the Trump tariffs, which the Fed chairman adroitly evaded and put the onus on Congress, where it rightly belongs.
Posts Tagged ‘wage growth’
Notes From Underground: The Sins of Wages
July 17, 2018Notes From Underground: Will the Year of the Rooster Deliver a Wakeup Call?
December 18, 2016In a September 11 post, I criticized the Japanese Central Banks’s policy for its technical approach to attempt to steepen its 2/10 yield. I wrote the following:
Notes From Underground: Just a Song Before I Go (Graham Nash)
February 13, 2014I am going to take a well-deserved hiatus but I wanted to list some “quick hitters” on the issues facing the markets in the coming weeks. The Yellen testimony has been digested and regurgitated (ad nauseam) and the bottom line is Chairwoman Yellen is singing from the same hymnal as her predecessor. The stock market investors/traders are comfortable with a known known and as readers of NOTES are well aware markets appreciate as much certainty as possible. BUT I WARN EQUITY BULLS WHO BLINDLY FOLLOW THE FED LIQUIDITY MODEL: Janet Yellen is a labor economist of Keynesian predilections.