Fed’s data revision marks new recession

Fresh off of the anemic 2016 Q1 GDP 0.5% on an annual basis, which translate to 0.125% “growth” for the first quarter, comes more dire news for the US. The Federal Reserve in July will have a major benchmark revision of GDP going back the last 5 years. The revised numbers will show that the […]

Kuroda has no yen to ease

This is what equity markets look like when central bankers run out of bullets. The Japanese central bank did nothing with rates and stood pat on its QE level and stocks around the world sold off hard. The Nikkei sold off 3.6% and major Europe exchanges are down between 1% ans 2%. Dow futures are […]

Is Trump Fed up with Yellen?

Wednesday we get the Fed’s decision on an April rate hike (the answer is no, of course) and what it thinks about moving in June (perhaps a rate cut). Fresh data that Republican presidential candidate Donald Trump is the presumptive nominee after sweeping five primaries on Tuesday will of course play into the decision. A […]

Central bankers never forget

Central bankers have a memory like an elephant. They never forget. This is why President Andrew Jackson is being taken off the $20. Jackson during his president had a distrust for The Second Bank of the United States. He thought it unconstitutional for a private corporation that answered to shareholders and its board of directors […]