Exploring the Limits of Monetary Intervention

By |2013-05-16T10:42:36-04:00May 16th, 2013|Economy, Federal Reserve/Monetary Policy, Markets|

The mini-cycle in inventory has re-appeared in the latest two regional manufacturing surveys. Both the Empire Fed and Philly Fed indices have again fallen below zero, indicating a contraction in activity. However, it is the frequency of negative readings that is most relevant. Since the middle of 2012, both surveys (along with their three other regional Fed cousins) have been [...]