The Fed isn't printing money, it's printing risk -- to the tune of $1 billion a day in US stocks.
Donald L. Luskin
On the February Jobs Report
Friday, March 8, 2013
A headline surprise hides slowing improvement in unemployment, and stays the Fed's hand.
The Crisis Score is Four for Four
Monday, March 4, 2013
Fiscal cliff, debt ceiling, sequesters and the continuing resolution -- done! But now what?
On Kuroda and Iwata at the BOJ
Monday, February 25, 2013
Abe picks doves and interventionists -- despite G-20 pressure, he has followed through.
The Incredible Shrinking Equity Risk Premium
Thursday, February 21, 2013
Stocks are vulnerable to correction because they're neither a value nor a growth proposition.
Do the Sequesters Matter?
Friday, February 8, 2013
Not so much. A "trillion in deficit reduction" is really only a $109 billion one-off spending cut.
On the January Jobs Report
Friday, February 1, 2013
Dramatic (but predictable) upward payroll revisions, and no effect on the Fed's Evans Rule.
On Q4 GDP
Wednesday, January 30, 2013
A tax-driven surge in personal income could drive mutual fund flows and mask 2013 weakness.
On the January FOMC
Wednesday, January 30, 2013
No policy changes, no more details on the Evans Rule. But a slight shift to the hawkish.
2013 Outlook: Doves Ruled Out at the Fed
Friday, January 25, 2013
By its own formulas, asset purchases ought to stop this year, and rates hikes start in the next.