When then-President-Elect Joe Biden nominated Janet Yellen to be his Treasury secretary last month, the markets rejoiced. The former Federal Reserve chair was a known quantity, and investors hate uncertainty – they knew what they were getting. Even better, they liked what they were getting—a monetary dove who favors low-interest rates and supports an interventionist […] The post Yellen Joins The Party appeared first on INO.com Trader's Blog. [Read More...]
The Conundrum Continues
Just how bad are things for the U.S. economy anyway? If you just finished reading the financial news headlines the past few days, you can’t be blamed for being just a little confused. From the government side, you would swear that the sky is falling. Not only is the COVID-19-fueled financial crisis ongoing, but it […] The post The Conundrum Continues appeared first on INO.com Trader's Blog. [Read More...]
Is More Stimulus A Slam Dunk?
If there were any doubts about whether more federal helicopter money would be falling from the sky, those doubts should have been erased by several major events that happened last week. The latest event—which likely sealed the deal—was the December jobs report, which showed the economy losing 140,000 jobs, the first drop in payrolls since […] The post Is More Stimulus A Slam Dunk? appeared first on INO.com Trader's Blog. [Read More...]
The Fed Warms To Climate Change
The politicization of the Federal Reserve continues apace. And no, President Trump isn’t trying to pull some grand last-minute gesture before he leaves office, like trying to fire Jerome Powell or something like that. Last week, as expected, the Federal Reserve formally joined the Network of Central Banks and Supervisors for Greening the Financial System, […] The post The Fed Warms To Climate Change appeared first on INO.com Trader's Blog. [Read More...]
Is Fed "Independence" Dead?
For the better part of the past four years, we’ve had to listen to the chattering classes defending the sanctity of the independence of the Federal Reserve. President Trump was routinely lambasted for constantly criticizing Jerome Powell, while several of his other nominees to the Fed, such as Herman Cain and Steven Moore, were deemed […] The post Is Fed "Independence" Dead? appeared first on INO.com Trader's Blog. [Read More...]
