Practical analysis for investment professionals

central banks


Monetary Policy Gone Wild: A Lost Generation of US Growth?

The Fed could be setting the US economy up for a harder fall down the road.

No Longer Superheroes? Twilight of the Bonds

With low, nil, or negative yields, how much can bonds still contribute to a portfolio?

Richard H. Clarida on the Evolution of Fed Communications

Richard H. Clarida discussed what he calls "an evolution in Fed communication."

The Bezzle and the Central Banks

In today's bull market, the bezzle, or "inventory of undiscovered embezzlements," isn't stocked with Ponzi schemes and the like. Rather it is built on the notion that risky assets have become practically risk-free.

The Fed Has Few Options, Says Danielle DiMartino Booth

“You don’t have a lot to work with when the next discussion around the table is negative interest rates,” says Danielle DiMartino Booth.

Book Review: Money in the Great Recession

In this important contribution to the literature, noted monetary macroeconomists argue that the global financial crisis of 2007–2008 was caused by a crash in money growth.

Four Headwinds to Economic Growth, Says Dallas Fed Chief

"I don't see GDP growth running away from us," Robert S. Kaplan said. "In fact, if we don't take wise actions from a policy point of view, I actually think potential GDP is likely to trend lower over the next number of years from where it is now."

Weekend Reads for Investors: Super-Mega High-Quality Edition

Jason Voss, CFA, shares his picks for Weekend Reads for Investors. This edition features stories about the dangers of exchange-traded funds (ETFs), a better way to think about and model the human brain, and how the notion of superhuman artificial intelligence (AI) is farfetched.

Tilting Portfolios to Leverage Macro Trends and Political Winds

Back in the 1980s, “monetary policy was a great way to stimulate the economy,” Jack Ablin, CFA, said. Not anymore.

Book Review: Financial Crisis, Contagion, and Containment

In a sweeping survey of the financial crises that shook East Asia and other developing countries, the author explores the compatibility of emerging market economies with inherently volatile global financial markets.



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