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Notes From Underground: Searching for Clarity in the Age of Monetary Policy...
The much-awaited piece from Jon Hilsenrath about FED “tapering” appeared in the weekend WSJ, and, as promised by the abundant tweets, it delivered very little in providing any new insights into Fed...
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Notes From Underground: Subject: The Cure To the Fed’s Concern About Its...
Bravo, Dallas Fed President Richard Fisher. You gave a speech that even the talking heads on TV could comprehend. The speech, titled, “Beer Goggles, Monetary Camels, the Eye of the Needle and the First...
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Notes From Underground: The Worst Press Conference Since Greenspan … Oh He...
Professor Yellen gets a RED D for this press conference. It was an effort in obfuscation it would deserve an A+ but Chair Yellen has been the biggest promoter of the Fed providing transparency and...
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Notes From Underground: Bernanke, Summers and Fischer, OH MY
Everybody is talking at me and I can’t hear a word they’re saying, only the echoes of mismanaged policy. The academics are out and about, making the case as to why they are right and markets are WRONG,...
View ArticleNotes From Underground: FOMC Minutes (Upon Further Review)
Tonight will be all quick hitters as the big news is sparse, to say the least. The Fed released the minutes of the September FOMC meeting. Besides discussing the idea of QE3, the most interesting read...
View ArticleNotes From Underground: Housing Is Making It As the Foundation of Obama’s...
The speeches by FOMC GOVERNOR TARULLO and Vice Chair Yellen were followed up with an Obama speech on a “major” REFI operation and many articles in the media. In today’s Financial Times, Larry Summers...
View ArticleNotes From Underground: Back To the Sixties–Output Gaps or Phillips Curves?
The FED hounds were unmuzzled after last week’s FOMC and “The Line it Is Drawn. The Curse It is Cast.” Bob Dylan must have been anticipating the difference of opinion that is developing within the...
View ArticleNotes From Underground: The Significance of the WSJ OP-ED Piece …“Magnitude...
A an op-ed piece in last weeks WSJ created a great deal of buzz in the financial media. Appearing a few days after the aggressive move by the FED, the opinion piece written by five eminent...
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