Powell’s First Day

Jerome Powell was sworn in as Chairman of the Federal Reserve yesterday. If one were to say it was a sea change, they may be able to back up that charge with some evidence. The S&P 500 fell 4.1% during trading hours during Powell's first day on the job. For a non-PhD economist to be …

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How Globalization Creates Deflation and Why Central Bankers Care

Deflation is an interesting animal. From a Central Banker's point of view, it is to be avoided at all costs. The average consumer may think of this, on the surface, as a positive. Digging deeper, the average consumer has a debt balance, and that balance is climbing as of late. Despite record low interest rates, …

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