Friday, September 10, 2021

Quick Macro Update

Well, this'll likely be the last you'll hear from me for the next week or so. Heading out soon for my annual trek to Montana to do a little fly fishing with a buddy and my dear friend Matt, the fishing guide whom I introduced you to a few years ago. I believe that blog post holds the all-time record for most hits. Linking it to last September's rendition. Note that this year I'll be out of the office Monday through Friday.

As for our weekly macro analysis, I'll keep this one brief.

Morning Note: Unsavory

As we've stressed herein over the past year, the present state of financial markets, by itself, does not allow the Fed to get, let's say, consequential, in terms of combating inflation going forward. 

Thursday, September 9, 2021

Wednesday, September 8, 2021

This Week's Message: Unique to Our Lifetimes -- And -- No, Inflation's Not So Concentrated...

Eight times each year each Federal Reserve Bank interviews key business contacts, economists, analysts, etc., in their respective districts to assemble what we can view as a real-time general conditions snapshot for the U.S.

Morning Note: Too Much Prevention??

I ran across the following Robert Oppenheimer quote while listening to a recorded lecture yesterday and got to thinking about how the desperation of policymakers, elected and appointed, to circumvent the painful (yet essential) stages of cyclical economic and market phenomena grows -- as do the tools they bring to bear -- with each cycle:

Tuesday, September 7, 2021

Morning Note: Belaboring the Labor Topic

This morning's action in treasuries, and the dollar, has me belaboring just a bit the labor topic (touched on it here, here and here Friday and Saturday). 

Saturday, September 4, 2021

Quotes of the Day: Sticky or Not...

We touched on employment conditions yesterday (here and here), and, again, I'm in the camp that believes the latest is not about a slowing economy at this point, it's about the obvious: