In the 1982 film “The World According to Garp,” Robin Williams’ character and his on-screen wife are looking at a home to purchase when a small plane crashes into the side of the structure. Rather than walk away, Williams immediately buys the house saying, “It’s been pre-disastered. We’re going to be safe here.” For a […]Read More
We live in the most informed society to date in human history. We also live in the most misinformed society in history. Living in a world where the fallback position is one of too much information and the result runs the gamut from total confusion to complete indifference. With the advent of social media and […]Read More
In a move as surprising as the sun rising in the East, the Federal Reserve Board’s Federal Open Market Committee kept interest rates where they have been for the past 10 months. With inflation still running above the Fed’s self-imposed 2% target and economic uncertainty in the air, the decision was not unexpected. In a […]Read More
To paraphrase the great American humorist and social critic Mark Twain, reports on an imminent interest-rate cut have been greatly exaggerated. At least that is the message from a recent speech by Federal Reserve Board member Michelle Bowman. Speaking to the Shadow Open Market Committee at the Manhattan Institute earlier this month, Bowman was quite […]Read More
Calls to ban the social media site TikTok and moves by federal regulators against Apple Inc. and other tech giants could lead one to think that technology companies are under siege from government overreach. After all, one of the foundations of capitalist economies is the idea that market forces will ultimately create equilibrium and competitive […]Read More
With fears of an impending recession abating – for now – the question of the hour is when the Federal Reserve Board will cut interest rates. But much of the speculation about what the Federal Open Market Committee plans to do at their two-day meeting beginning March 19 resembles the horserace coverage common to electoral […]Read More
In the race to the bottom for accuracy in forecasting, 2023 was a good year for meteorologists. It established – perhaps once and for all – that weather forecasters are ahead of economic prognosticators in at least getting it close to right. And the receipts are to be found on Wall Street. While most people […]Read More
Companies offering internet access, creating software applications and building mobile devices with all the bells and whistles have long touted the ability to “work from anywhere” with their products and services. It turns out, for a growing number of Americans that anywhere is home. According to a recent report from the U.S. Census Bureau, the […]Read More
While the economic intelligentsia is still ruminating on the possibilities of a recession, the Federal Reserve Board is looking ahead to what comes after that. Earlier this month the central bank released the hypothetical situations for its stress tests of large banks. The annual exercise is mandated by the Dodd-Frank Wall Street Reform and Consumer […]Read More
It might technically still be winter, but spring is in the air. Spring training that is. And while Major League Baseball teams are gearing up for play in Florida and Arizona, fans are thinking happy thoughts about the season to come. For consumers concerned about the state of the economy, there is a lesson to […]Read More
