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Taming Inflation

Commentary: Week of May 02, 2022 Ultimately, inflation is always and everywhere a monetary phenomenon, as the late great economist Milton Friedman used to say. And so the key to reducing the inflation we’re experiencing today – the highest inflation in forty years –...

Focus on the MONEY, NOT RATES

Commentary: Week of April 25, 2022 No one can say that the Federal Reserve can’t do the impossible. At long last observers from across the political spectrum agree on one thing – that Jerome Powell and the Fed are well behind the inflation curve and have a lot of...

Slower Growth in 2022Q1

Commentary: Week of April 18, 2022 Real GDP (Gross Domestic Product), in the US, grew 5.5% in 2021, the fastest growth for any calendar year since the Reagan Boom in the mid-1980s. In spite of this, for the two years ending Q4-2021, real GDP grew just 1.6% annually,...

Housing: Heartburn, NOT a Heart Attack

Commentary: Week of April 11, 2022 When interest rates go up, many analysts start to worry about recessions. That’s not wrong to do, after all Federal Reserve rate cycles are important. Lately, the market has settled on expectations for a total of about 2.25% or more...

We’re All Keynesians Now

Commentary: Week of April 04, 2022 Intellectuals and politicians often try to verbally summarize or justify conventional thinking in pithy ways. Milton Friedman (in 1965) and Richard Nixon (in 1971) both said different versions of the phrase, “We are all Keynesians...