Dots and dissents be damned. The ultra-dovish "Yellen Rule" is completely intact.
Donald L. Luskin
On the September FOMC
Wednesday, September 17, 2014
The Untied Kingdom
Wednesday, September 10, 2014
Worst case without Scotland: gilts get slightly junked. But no currency crisis, no contagion.
On the August Jobs Report
Friday, September 5, 2014
A bad jobs report -- but the key metric in this labor market continued to improve.
On the ECB August Policy Decision
Thursday, September 4, 2014
As we expected, an ABS purchase scheme -- along with a surprise rate cut (the last one).
Attack of the 15 Basis Point Deflation Monster
Tuesday, September 2, 2014
A dubious deflation emergency in Europe isn't justification for such low US Treasury yields.
Whatever It Takes Comes to Jackson Hole
Monday, August 25, 2014
Off-script again -- Draghi drops a QE bombshell at the Fed's conference.
On Yellen at Jackson Hole
Friday, August 22, 2014
Unemployment is cyclical. No, it's structural. Wait -- it's both!
So Close to Recovery, So Close to Doom
Thursday, August 7, 2014
QE is coming to the euro area as bank lending recovers, and trade war with Russia loom.
On the July Jobs Report
Friday, August 1, 2014
Markets are in a tantrum about the end of QE and ZIRP -- this jobs report won't slow the Fed.
On the July FOMC
Wednesday, July 30, 2014
Yellen's first hawkish dissent. But under her "optimal control," it couldn't matter less.