Jackson Hole Symposium
Vaccine and Treatment Hopes Spring Eternal
August 24, 2020
Faith is trumping science in guiding market thinking regarding Covid-19. My doctor recently told me not to expect to get a coronavirus vaccine for almost another year but to be very sure to get my annual flu vaccine this autumn because the ride is apt to get bumpy then. Markets, on the other hand, are […] More
A Corrective Day in the Marketplace
August 22, 2017
The dollar rebounded, and so did most stock markets in Asia and Europe. Bond yields and gold eased back. These changes partly reverse trends in recent days but have no obvious reason for doing so other than it was time for a correction, however brief. After heavily criticizing the never-ending war in Afghanistan, President Trump […] More
Better Financial Market Tone Continues
August 27, 2015
The Kansas City Fed’s annual economic policy symposium in Jackson Hole, WY begins today. The topic of this year’s central banker conference is “Inflation Dynamics and Monetary Policy.” While Chairperson Yellen will not be attending, Vice Chair Stanley Fisher’s speech on Saturday, the final day of the gathering, is the most eagerly awaited event. Remarks […] More
Revised German and British 2Q GDP Data Released
August 23, 2013
In a pretty nondescript summer Friday, the main development has been an upward revision of U.K. GDP growth of a 0.1 percentage point. Such went up by 0.7% between the first and second quarters and was 1.5% greater than in the second quarter of 2012. Quarter-over-quarter gains amounted to 0.4% in personal consumption, 0.9% in […] More
No Surprises in Bernanke’s Jackson Hole Speech
August 26, 2011
In predictable and balanced remarks, the Fed Chairman generally avoided tipping his hand regarding what the FOMC might do in the near term. As expected by yesterday, he did not announce any new measure, nor did he go into detail about specific other steps that could be taken. He’s done that on earlier occasions including […] More
