If the main concern for most Americans is indeed “the economy, stupid,” as James Carville famously opined, then Trump is winning bigly. From rising wages to record low unemployment to skyrocketing markets, there is little, if anything, the president’s potent combination of tax cuts and…
When does the medicine become the disease? Four months after the Federal Reserve intervened in the repurchase agreements (repo) market for the first time since the Great Recession, this strikes as a pertinent question. The temporary palliative that started in…
The Federal Reserve Bank of New York injected $86.4 billion into the repo market on Monday. This follows three months of the Fed intervening in a repo market it normally leaves to its own devices. When repurchase agreement (repo) rates…
The Federal Reserve sold another $75 billion in overnight repurchase agreements (repos) on Wednesday, with demand dramatically overwhelming supply. And by the end of the day, the New York Fed announced increasing the overnight repos available from it to $100…
Winston Churchill once recalled that, as a young boy, his parents took him to Barnum’s Circus where the sideshow headlined “The World-Famous Boneless Wonder.” The wonder was a giant slab of a man with no backbone. Although his parents determined…
Elizabeth Warren seeks to “guarantee high-quality child care and early education for every child in America from birth to school age. It will be free for millions of American families, and affordable for everyone.” Bernie Sanders introduced free Medicare for…
Now for a few words of praise and caution. First, Trump is now presiding over almost the longest, most robust recovery in the economic history of the United States. Only the ten-year boom culminating in the tech crash of 2000-2001…
America looks great again after enduring a sluggish economy for most of the new century. The unemployment rate sunk to 3.6 percent in April. This stands as the lowest number in a half century. The gross domestic product (GDP) grew…
Just three months after last November’s midterm elections, Democratic presidential hopefuls are already lining up. And the new darling of the left, Alexandria Ocasio-Cortez, is blithely explaining her party’s outright embrace of old-fashioned socialism with the self-assured assertion that the…