No Sign of a Pause Yet

Real Bad, Nominal Worse   While the Fed might have been slow off the mark in fighting inflation in 2021, they marched double-time last year starting in March, taking the benchmark Fed Funds rate from about roughly 0% to 4.5%. This brought extreme pain to the...

The “Idea in Real” Market

The market is learning that the economic cure of last year is now quickly becoming the cause for something else. The ramifications of unprecedented fiscal and monetary responses employed to combat a recession during the global pandemic should not come as a surprise to...