The Fed and Congress Remain in the Dark About the Economy
President Trump’s nominee to head the Federal Reserve System, Jerome Powell, faced his Senate confirmation hearing this week in front of the Senate Banking Committee. Anyone who had been hoping that a Powell chairmanship would differ in any way from that of Chairman Yellen would have been sorely disappointed after watching the hearing. Having already served on the Fed’s Board...
Alan Greenspan Warns About Trying to Stimulate Economic Growth
In a recent interview with Fox Business, former Federal Reserve Chairman Alan Greenspan warned about trying to stimulate economic growth. While growth in economic productivity continues to remain limited, the Trump Administration has adopted a 3% annual GDP growth target as one of its aims. Greenspan believes that the government should be cautious in targeting a rate that high. The...
7 Things for Investors to Be Thankful For
Thanksgiving may be over, and we may be recovering from our food comas and trying to work off the extra pounds we put on, but that’s no reason to stop giving thanks for all of our benefits. For American investors, in particular, there are many things to be thankful for. When looking at all the options available to investors,...
Watch the Declining Dollar
High stock market prices have fooled many people into thinking that the economy is doing just fine, even though that’s not really the case. Economic productivity is still only increasing slightly. And the lowering unemployment rate is more the result of people continuing to leave the workforce than it is the result of the creation of new jobs. For...
Today’s Americans May Be Worse Off in Retirement Than Their Parents
One of the greatest benefits of the post-World War II economic boom was that many workers became so well off that they could retire comfortably once they reached their golden years. The days of living paycheck to paycheck and having to work into old age until no one would keep you employed ceased to become a reality for millions...
Meet the New Boss, Same as the Old Boss
President Trump recently nominated current Federal Reserve System Governor Jerome Powell to be the next Chairman of the Fed’s Board of Governors, replacing Janet Yellen when her four-year term expires. It’s a puzzling move for a President who was elected based on popular anger at the Washington establishment, and who promised to drain the swamp. As Powell’s nomination demonstrates,...