When good news is bad, the wisemen are all fools once again

Cracked 1887 coin on cracked ground with stormy city skyline and lightning

Two weeks in a row an economic report, first on jobs, then on retail spending, smashed expectations, only to be simultaneously dismissed as a positive trend and used as an excuse to raise interest rates. Two weeks ago, the moribund United States job market received a much needed jolt, when the May report from the… Continue reading When good news is bad, the wisemen are all fools once again

The Federal Reserve is a fraud that doesn’t seem to know what inflation actually is

Why is Jerome Powell talking about keeping interest rates high in the face of a potentially slowing economy when he’s spent the last three years trying to slow the economy to fight inflation? “We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension,” Federal Reserve Chairman Jerome Powell said… Continue reading The Federal Reserve is a fraud that doesn’t seem to know what inflation actually is