On Wednesday last, the Federal Reserve committed an act of raw politics. After admitting that high interest rates had failed to bring inflation down to its target of two percent, the Fed announced (albeit through the Delphic fog of bureaucratic…
Financial journalism has achieved something close to gender equity. For every Larry Kudlow, there is a Maria Bartiromo; for every Joe Weisenthal, a Frances Coppola; and for every Andrew Ross Sorkin, a Gretchen Morgenson. How did that happen? The full story…
The Federal Reserve continues to impose tighter money as a cure for inflation while refusing to indict looser money as the cause of it. The Federal Open Market Committee (FOMC) this week offered “supply and demand imbalances related to the…
During President Joe Biden’s recent State of the Union Address, he predicted: “We are going to be okay. When the history of this era is written, Putin’s war on Ukraine will have left Russia weaker and the rest of the…
So, I just got back from lunch at the Beverly Hills Hotel to see online a report that Russia is now shelling military and civilian emplacements in Eastern Ukraine. Two days ago, the Wall Street Journal reported that the Russians…
By now, many Americans are aware of the bombshell series of reports from Business Insider which accused members of Congress and their staffers of violating the 2012 STOCK Act, which regulates congressional securities trading. If there has been a figurehead…
Last week, China Evergrande suspended its shares on the Hong Kong Stock Exchange. Evergrande is China’s second-largest real estate developer. The company has been in crisis for months, having repeatedly missed interest payments on its debt. Now, the company, which owes $300 billion in…
“We’re a free market economy. They [Congress] should be able to participate in that.” At a time when the American public’s trust in politicians and government is nearing an all-time low, House Speaker Nancy Pelosi has decided to give the American…
Stocks have surged, not despite coronavirus but because of government responses to it. While many paint these stock gains as amoral reactions, they are rather straightforward market responses to government actions that have spiked national saving but limited its use….
