Tag Archives: the Fed

Market Volatility? “NOP”, says the Fed.

As expected, the Fed did not change policy at its meeting last week, as the “dot plot” shifted downward – closer to, if still well above, the levels priced into the market. In the press conference, Fed Chairman Janet Yellen … Continue reading

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Listening Closely to Janet Yellen (It’s Not about Equity Valuations)

In a question and answer session with the IMF’s Christine Lagarde last week, Fed Chairman Janet Yellen made a number of statements about systemic risks, but the media highlighted her equity valuation soundbite – that valuations “are at this point … Continue reading

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Slippery Stretch Last Week: Blame it On the Weather?

Several economic indicators, including retail, housing and industrial data, were soft last week, in part – possibly – due to the weather. Slightly Soft Retail Sales: Probably don’t reflect a lack of consumer buying power as much as a preference … Continue reading

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The Oracle Has Spoken: Fed Maintains a Dovish Tone

The minutes of the March 17-18 Federal Open Market Committee (FOMC) meeting were generally interpreted as dovish and showed continuing divisions within the Fed as to when hikes should start, and it still seems far from a consensus to act. … Continue reading

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Russia: Where might we be wrong?

As the last hours of the year slip through our hands, it is sometimes important to remind ourselves that today’s gallstones can become tomorrow’s pearls. This time last year, we expected the Federal Reserve to begin to raise rates, as … Continue reading

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