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All Conundrums Matter

Since we are this week hypocritically obsessing over monetary policy, particularly the federal funds rate end of it, it’s as good a time as any to review the full history of 21st century “conundrum.” Janet Yellen’s Fed has run itself afoul of the bond market, just as Alan Greenspan’s Fed did in the middle 2000’s. But that latter example wasn’t [...]

Modern Bubble Doctrine Needs Not Logic

By Jeffrey P. Snider|2014-05-07T14:46:55-04:00May 7th, 2014|Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

It is only one word, but it has been repeated so many times by FOMC members in the past year or so it has taken on the imprimatur of officialdom vernacular. Whenever speaking of bubbles, these policymakers inevitably include the word, “obvious.” Long is the list of internal literature that purports to place bubbles in the same category with the [...]

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