{"id":42239,"date":"2019-01-04T08:48:05","date_gmt":"2019-01-04T13:48:05","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42239"},"modified":"2019-01-04T08:48:05","modified_gmt":"2019-01-04T13:48:05","slug":"bear-markets-fed-mistakes-and-quick-shots-from-john","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42239","title":{"rendered":"Bear Markets, Fed Mistakes, and Quick Shots from John"},"content":{"rendered":"
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Bear Markets, Fed Mistakes, and Quick Shots from John<\/a><\/h3>\n<\/header>\n
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Powell Was Right but the Fed Is Wrong<\/a>
\nTime for an Emergency Fed Meeting<\/a>
\nLiving on Island Time<\/a>
\nQuick Shots from the Frontline<\/a><\/p>\n<\/div>\n

A winters day,
\nIn a deep and dark December\u2026<\/em><\/strong><\/p>\n

\u201cWait, it doesn\u2019t feel like winter. It\u2019s not deep and dark, and it\u2019s actually warm, and the sun is shining. Toto<\/s>Shane, I don\u2019t think we\u2019re in Kansas<\/s> Texas anymore.\u201d<\/em><\/p>\n

Yes, we have actually moved from Texas to a new location. I\u2019ll explain why and where below. But first, we really do have to follow up last week\u2019s letter. Today, we\u2019ll address several things, so think of this as my year-end \u201cQuick Shots from the Frontline.\u201d It will be more like a personal, from the heart, fireside chat. (Trigger warning: I will be taking off my politically correct gloves. Naming names and pointing fingers. Just Uncle John telling it like it is.)<\/p>\n

This letter may run a little longer, but next week I promise to get back to the typical 3,000 or so words. Today is just you and I having a conversation. Pick up your favorite beverage (for me, it\u2019s a glass of coffee or tea now), sit back, and let\u2019s chew on the world.<\/p>\n

<\/a>Powell Was Right but the Fed Is Wrong<\/strong><\/p>\n

Last week. I argued Jerome Powell did the right thing<\/a> by raising rates a mere 25 basis points. He forcefully declared the Fed\u2019s independence from the market and politicians for the first time since Volcker. Greenspan, Bernanke, and, in particular, Yellen all gave the markets a \u201cput\u201d option\u2014basically a third unofficial mandate to make sure that asset prices keep rising. Now, of course, that\u2019s not the way they would express it, but that is, in fact, what they did.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

Bear Markets, Fed Mistakes, and Quick Shots from John Powell Was Right but the Fed Is Wrong Time for an Emergency Fed Meeting Living on Island Time Quick Shots from the Frontline A winters day, In a deep and dark December\u2026 \u201cWait, it doesn\u2019t feel like winter. It\u2019s not deep and dark, and it\u2019s actually […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1750,303,1849,431,16888,8226,534,23697,3650],"class_list":["post-42239","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bear-market","tag-fed","tag-financial-markets","tag-interest-rates","tag-jerome-powell","tag-john-mauldin","tag-monetary-policy","tag-thoughts-from-the-front-line","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42239"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42239\/revisions"}],"predecessor-version":[{"id":42240,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42239\/revisions\/42240"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}