Gold, the Dollar, and the Fed
Gold may be caught up in a commodity boom, but it's also saying the Fed is still accommodative.
Gold may be caught up in a commodity boom, but it's also saying the Fed is still accommodative.
While partisans are distracted by immigration, tax reconciliation is quietly moving forward.
How Chuck Grassley and Bill Thomas let a personal feud put growth at risk.
Even a call from the President couldn't get the 2003 tax cuts extended last week, but it's not over yet.
The equilibrium interest rate has moved higher -- so the Fed has much further to go than the market expects.
The Fed is still data-dependent, and all the data points to more rate hikes.
Stocks face the risk that if the 2003 tax cuts aren't extended now, they never will be.
The market has reversed last week's false hopes, but it's still underestimating the extent of Fed action.