To understand the transmission mechanism of Monetary Policy it can be helpful to understand how interest rates are set and how this filters thru the economy. My favorite analogy for understanding how interest rates are [...]
The Fed has raised rates at an unprecedented pace in the last 18 months. And while it seems like they’ve been raising rates for a long time the reality is that they were playing catch [...]
Here are three things I think I am thinking about. 1) Work is for jerks. There was a viral rant going around Twitter all week from a young lady who hates her 9-5 job and [...]
Q3 GDP came in at a boomy 4.9%. The chart at the right breaks down the contributions by component. The primary drivers were inventories and personal consumption at 1.3% and 2.69%. The inventory rebuild is [...]
Here are three things I think I am thinking about this weekend. 1) What's the best inflation hedge? There's always a lot of debate about what the best inflation hedge is. Is it gold, commodities, [...]
Mortgage rates officially hit 8% today. It's amazing considering mortgage rates were as low as 2.5% back in just 2020. But it isn't the high rate that is so alarming - it's the rate of [...]
Here's a Tweet (do we still call them Tweets?) from Paul Krugman which is getting a lot of flak. As I noted last month, he's mostly right, but just explaining this in a bad way. [...]
Here are three things I think I am thinking about this weekend. 1) SBF is not an effective altruist. Michael Lewis has been a literary hero of mine for decades. Liars Poker was a book [...]
Yields have been surging in recent weeks as markets price in rising credit risk and the likelihood of the Fed remaining higher for longer. Our view on credit risk hasn't changed this year - Fed [...]
T-Bills are an incredibly attractive option at this time. At 5.5% you're getting high income, high principal stability and tax efficiency across very predictable short-term time horizons. These are the highest rates we've seen since [...]