If You Don’t Have Time This Morning The economy is picking up speed and will be cruising along at a rapid pace through the summer. The Fed expects to patiently
Brainard, Powell, and the Importance of Sticky Inflation Federal Reserve Governor Lael Brainard’s latest speech is another dovish tour de force that again highlights the Fed’s intention to delay tighter
Monday Morning Notes, 3/22/21 If You Don’t Have Time This Morning A deluge of Fed speakers this week will reiterate Powell’s message from last week’s FOMC press conference: The Fed
Monday Morning Notes, 3/15/21 FOMC Preview The FOMC meeting and subsequent press conference is the highlight of this week and worthy of a deep dive in lieu of my usual
Tim Duy’s Fed Watch, 3/10/21 Thinking About Inflation The consumer price index for February provided no reason to think inflation is poised to take off. Core inflation rose just 0.1%
If You Don’t Have Time This Morning The Fed stands ready to respond to a financial accident but it isn’t seeing such an accident yet. The Fed instead sticks to
Thinking About The Fed’s New Framework Federal Reserve Chair Jerome Powell stuck to the script today, providing no hints that the Fed was about to change policy at the upcoming
Monday Morning Notes, 3/1/21 If You Don’t Have Time This Morning With pricing for rate hikes edging into 2022, market participants are front-running the Fed. The Fed will remind us
Fed Still Letting This Play Out Fed speakers continue to indicate they expect to sit on the sidelines while the bond market processes the implications of stronger economic growth this
Powell Sticks to the Script In both his written and verbal testimony today Federal Reserve Jerome Powell stayed true to the party line. The Fed intends to maintain easy policy
Monday Morning Notes, 2/22/21 If You Don’t Have Time This Morning The Fed’s not worried about rising long yields. They would be more worried if markets started pricing in 2022
The Fed Leans into The Recovery The stage is set for an increasingly tense standoff between market participants and the Federal Reserve over the coming months. The minutes of the
Tuesday Morning Notes, 2/16/21 If You Don’t Have Time This Morning The Fed intends to let the economy run red hot and the inflation data has yet given them a
What the JOLTs Report Tells Us About the Stimulus The discussion around fiscal stimulus has largely centered around estimates of potential output. The December JOLTs report provides an opportunity for
If You Don’t Have Time This Morning Fed speakers have coordinated communication around the central theme that it is too early to speculate on the timing of tapering. We should
Laying Down the Law The January FOMC meeting must have been a real barn burner. Looks like someone laid down the law on regional presidents speaking a little too casually
Tim Duy’s Fed Watch, 2/3/21 Cost of Suppressing Dissent There are multiple themes in the Fed commentary I am tracking. One theme is the suppression of dissent. See this via Craig Torres and
Note: This is a fairly expansive piece but it became a little long. That said, worth the time. Introduction In the wake of the less-than-spectacular though I think underrated November
Markets are in motion overnight as we go into what promises to be another wild week. The coronavirus remains the focus of everyone’s attention, and for good reason. Unfortunately, the bad
