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Vive La Sweet Spot

Quite a week! Powell all but assured a rate cut in July; the yield curve steepened; the dollar weakened; trade talks with China opened; commodity prices increased; and stock markets rose. Doesn't i…

Why Do We Trust Strangers?

Why Do We Trust Strangers?

We go to the restaurant and order our food. We trust the waiter that he heard our order and jotted it down correctly. We trust the chefs that they cook our food properly (…

Where the Phillips is inflation?

Where the Phillips is inflation?

The unemployment rate in the United States is 3.7%. Pretty good — people having jobs is great. And it’s actually part of the Federal Reserve’s job to keep unemployment down. But the Fed …