Over the last two weeks we have had an avalanche of economic data – mostly good news. The market reaction has been mixed, because so much of the "hot money" has a Fed fixation. For much of the last two weeks, every piece of good economic news led to lower stocks, presumably because this would […]
We welcome the return of the Survey of Leading Economic Bloggers. Tim Kane spearheaded the survey during his Kauffman Foundation tenure. Tim has moved to the Hudson Institute, where he has busily been writing books [with important policy implications according to this NYT review – the OldProf has this on the reading list, but is […]
After weeks of speculation based upon speeches, newspaper columns, and pundit pontification we will finally have some hard information. Maybe. The two-day FOMC meeting will include not only the regular announcement of the decision, but also revised economic forecasts and a press conference by Chairman Bernanke. Everyone will be watching for any hints of a […]
Everyone who has been wrong about the market has now joined in a familiar refrain: The Fed is printing money. It is the only thing holding up stocks. It will all end badly. Background A little research on these sources shows that – as of a few months ago – their take on the Fed […]
Ready or not, we should expect a week dominated by an even greater focus on Fed policy. There are four reasons: The economic data calendar is very light; Earnings season has ended; Many will be heading for the exits early, anticipating a holiday weekend; and finally Bernanke testifies on the economy before the Congressional Joint […]