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Tag Archives: monetary policy
Dear Canada, WTF?
Dear Canada, WTF? Just hours ago, The Bank of Canada held rates steady and complained about various internal and external factors that were negatively impacting the Canadian economy… Holding rates unchanged at 1.75%, the BOC cited almost everything that has gone wrong: moderating global growth, a “materially weaker” outlook for the oil sector, a faster-than-expected […]
Economic Downturn: Credit Cards Aren’t Being Paid, Accounts Are Being Closed
Economic Downturn: Credit Cards Aren’t Being Paid, Accounts Are Being Closed A new report is shining some light on an indicator that the economy is about to take a major downturn. Credit card accounts are not being paid and some accounts are being closed in anticipation for an upcoming recession. Credit-card delinquencies, application rejections, and […]
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm Amid near-record-low Canadian crude prices and a housing crisis, The Bank of Canada appears to have finally given up its narrative that ‘everything is awesome’. The BoC walked back much of its enthusiasm about the nation’s outlook in a decision that kept interest rates unchanged, […]
Empty Words Are Failing. A Timeline For What Comes Next
Empty Words Are Failing. A Timeline For What Comes Next A quick recap of the past couple of months: Stocks plunge. The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to panic. The Fed announces that maybe it won’t have to raise interest rates any more, and the president announces a temporary […]
Chairman Powell Talks Out of Both Sides of His Mouth
Chairman Powell Talks Out of Both Sides of His Mouth In a speech on Wednesday, Federal Reserve Chairman Jerome Powell stated that he had a “neutral” outlook on rates. According to a CNBC article, he was quoted: Interest rates are still low by historical standards, and they remain just below the broad range of estimates […]
DiMartino Booth: The Fraying Of The Fed’s Fragile Narrative
DiMartino Booth: The Fraying Of The Fed’s Fragile Narrative Former Dallas Fed official Danielle DiMartino Booth joins the show just as Chairman Jay Powell faces his first major challenge: will he keep raising rates as promised now that autos, housing, employment, and even tech stocks look soft? And if not, will he effectively signal that the US […]
Weekly Commentary: Framework for Monitoring Financial Stability
Weekly Commentary: Framework for Monitoring Financial Stability Upon the public release of Jerome Powell’s Wednesday speech came the Bloomberg headline: “Powell: No Preset Policy Path, Rates ‘Just Below’ Neutral Range.” When the Fed Chairman began his presentation to the New York Economic Club just minutes later, the Dow had already surged 460 points. From Powell’s […]
Competing Mortgage Headlines: Rates Barely Move vs Rates Surge Lower on Powell
Competing Mortgage Headlines: Rates Barely Move vs Rates Surge Lower on Powell Freddie Mac says “mortgage rates barely move” but Mortgage News Daily says “rates surge lower” Mortgage News Daily and Freddie Mac offer conflicting reports on the bond market reaction Jerome Powell’s speech yesterday. Mortgage News Daily says Mortgage Rates Surge Lower Mortgage rates […]
This Is How the “Everything Bubble” Will End
This Is How the “Everything Bubble” Will End Subscribe to International Man FacebookTwitterGoogle+ I think there’s a very high chance of a stock market crash of historic proportions before the end of Trump’s first term. That’s because the Federal Reserve’s current rate-hiking cycle, which started in 2015, is set to pop “the everything bubble.” I’ll […]
Don’t Get Distracted By The Trump/Fed Soap Opera – The Crash Will Continue
Don’t Get Distracted By The Trump/Fed Soap Opera – The Crash Will Continue At the beginning of 2018 I wrote extensively on what was likely to happen under the administration of Jerome Powell, the new Federal Reserve Chairman. In my article ‘New Fed Chairman Will Trigger A Historic Stock Market Crash In 2018‘, published in […]
The Fed Is Tightening More Than It Realizes
The Fed Is Tightening More Than It Realizes Before the 2008 collapse of Lehman Brothers, the Fed’s balance sheet stood at $925 billion—mostly U.S. Treasury securities. After 59 months of asset purchases to push down longer-term interest rates, it had ballooned to a peak of $4.5 trillion, including nearly $1.8 trillion in mortgage securities, in […]
Central Banks Looking at Creating Their Own Cryptocurrencies
Central Banks Looking at Creating Their Own Cryptocurrencies The IMF has recommended that all Central banks should issue their own cryptocurrencies. Indeed, they are looking at using Block Chain to keep track of taxes and to enforce negative interest rates with cryptocurrencies which would allow them to impose negative interest rates whenever necessary. With adopting cryptocurrencies that governments would […]
Australia’s Economy Is A House Of Cards, Set For Sharp Downturn In 2019
Australia’s Economy Is A House Of Cards, Set For Sharp Downturn In 2019 Damien Boey, a research analyst at Credit Suisse, has warned that economic growth in Australia could slow quite sharply next year, raising the prospect that a slowdown could be immient. Boey expects the recent growth spurt driven by strong infrastructure investment, could fade in the first […]
Rates on Their Way to 10-Year High After Hawkish Fed’s Recent Meeting
Rates on Their Way to 10-Year High After Hawkish Fed’s Recent Meeting Round and round we go, where the hawkish Fed stops, nobody knows… There was a bit of tension in the markets last week. This tension stemmed from a prediction that the federal funds rate would be well on its way to a decade […]
