Practical analysis for investment professionals

US Federal Reserve

Mostly Positive Adjustments for Investors

A number of adjustments that are subtly or perhaps not-so-subtly adjusting how we should be thinking about investments.

A Modest Proposal: Why Doesn’t the Fed Forgive the Debt?

W. Bradford McMillan, CFA, discusses an idea for a solution to the debt ceiling crisis.

Poll: Which Characteristic of the Next Fed Chairperson Is Most Important?

World news media are rife with speculation about who will be the next chair of the Board of Governors of the US Federal Reserve System, arguably the most important central banker in the world. We asked readers which characteristic, from an investor's point of view, they considered the most important for the next Fed chair.

How Will the FOMC Meeting Affect Fixed-Income Markets?

A number of factors, including Fed Chair Ben Bernanke’s comments about a September taper, currency volatility creating turmoil in emerging markets, and conflicting analyses of jobless claims in the United States have placed an unusual emphasis on this week’s meeting of the Federal Open Market Committee. The committee’s decisions will have a far-reaching impact on fixed-income markets around the world. Here’s a curated list of articles to help you understand the issues facing those markets, and how they may respond.

Stocks, Bonds, and the Fed’s Taper Talk

Consensus wisdom seems to be that rising interest rates are bad for stock prices.

Bill Gross Expects No Monetary Tightening before 2016 — What Next for Asset Allocation?

Should asset allocation be adjusted in response to newly formed macroeconomic expectations, or should investors continue to use models based solely on past data and wait until a set time horizon expires?

Following the Bubble: Today’s QE-conomy (Ver 3.0)

While it is true that the government interventions of the past few years indeed avoided a massive debt deflation cycle, it is also true the these interventions themselves are changing the fundamental structure of the economy, as well as the expectations of its participants.

Poll: Have Interest Rates in the US Finally Started Their Upward Climb toward Normalcy?

Interest rates in the US have started to rise over the past month, surprising many in the investment world. We asked readers earlier this week: Have interest rates in the US finally started their upward climb toward normalcy? For many of the 918 respondents (approximately 42%), the answer is "Yes, recent increases are in response to important changes in the interest-rate landscape."

Book Review: The Federal Reserve and the Financial Crisis

Adapted from four lectures given by Ben Bernanke in March 2012, this book is a good primer on the workings of the central bank throughout its history, including its role in the recent financial crisis.

Did the Gold Standard Work? Economics Before and After Fiat Money

Suddenly gold is being proposed as a cure-all for the weakening dollar, allowing it to retain its place as the international reserve currency — a trophy taken, not without a fight, from the British pound at the READ MORE ›

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