Tag: monetary policy

How Much Is Too Much

How Much Is Too Much

The amount of monetary stimulus increasingly imposed on the financial system creates false signals about the economy’s true growth rate, causing a vast misallocation of capital, impaired productivity and weakened economic activity. To help quantify the amount of stimulus, please […]

What Could A New-Look Fed Mean?

What Could A New-Look Fed Mean?

Speculation is building about a looming shake-up in the leadership of the US Federal Reserve. Transitions are nothing new—but the stakes this time are unusually high for the economy and markets. Also read: Q2/H1 Hedge Fund Letters – Letters, Conferences, […]

Clarity Or Confusion

Clarity Or Confusion

“Are you kidding? Are you kidding? No one knows what you’re doing.” – Economist John Taylor in response to William Dudley’s (President Federal Reserve Bank of New York, Vice Chairman of the Federal Open Market Committee) comment that the Federal […]

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The Fog Of Markets

“The year 1915 was fated to be disastrous to the cause of the Allies and to the whole world. By the mistakes of this year the opportunity was lost of confining the conflagration within limits which though enormous were not […]