By Robert Romano “We’re not only going to see rates move irregularly lower, but they’re going to remain depressed for several years. This process is not coming to an end, it’s dragging on.” That was Lacy Hunt of Hoisington Investment Management Company speaking with CNBC’s Rick Santelli on the trajectory of long-term interest rates. And, apparently, everything else. After all, […]
By Robert Romano First, the bill was supposed to be released on Monday. Then, it was supposed to be released on Tuesday. Now, it is Wednesday, and maybe it will be released, and maybe it won’t. But come Thursday, Senate Finance Committee Chairman Orrin Hatch (R-Utah) tells Politico that he will hold a hearing “regardless” of whether legislation granting trade promotion […]
By A.F. Branco Click here for a higher resolution version.
By A.F. Branco Get a higher resolution version here.
By Robert Romano “Except in the short run, real interest rates are determined by a wide range of economic factors, including prospects for economic growth — not by the Fed.” That was former Federal Reserve Chairman Ben Bernanke, very much downplaying the extent to which the nation’s central bank “controls” interest rates in his inaugural blog post for the Brookings […]
By Rick Manning What does the dismal unemployment report for March mean for the American economy? Are there reasons to be concerned that the optimism in the general media that the economy was finally picking up steam was misplaced? What do other economic reports say? Make no mistake the unemployment report for March was abysmal with the reported unemployment rate […]
By Robert Romano Does the national debt, now at $18.15 trillion, ever need to repaid? It seems an important question since, as far as the record is concerned, it has increased every single year since 1957 — more than 50 years ago. Except for brief periods in the 1950s, the 1920s, the 1880s, after the First Seminole War when the […]
By Robert Romano Federal Reserve Vice Chairman Stanley Fischer let the cat out of the bag on March 23 when he told the Economic Club of New York that raising the federal funds interest rate from its near-zero levels “likely will be warranted before the end of the year.” Fischer’s comments were immediately followed by St. Louis Federal Reserve Chairman […]
By Robert Romano You’re a slacker! That is Heritage Foundation economist Stephen Moore’s apparent take on young people failing to enter the workforce — reminiscent of the depiction of Principal Strickland in Back to the Future — writing an op-ed in The Washington Times, “Young Americans opting out of workforce.” In it, Moore points to declining labor participation by young […]
By Robert Romano Much has been made of the Federal Reserve dropping its “patient” stance against raising the Federal Funds Rate from its near-zero rate where it has stood since late 2008. Previously, the nation’s central bank had promised as recently as January 28 that “it can be patient in beginning to normalize the stance of monetary policy.” Meaning, a […]