The Federal Reserve just finished its annual round of large bank stress tests. The banks all passed – meaning they had enough capital to withstand a massive financial shock and deep recession. These stress tests are the political result of the government blaming banks, and not Fannie and Freddie, for the 2008 Panic and are […]
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One of the key excuses for the Federal Reserve to hold off raising rates again and again, and to raise them very slowly, is that inflation remains extremely low. The consumer price index is up only 1.1% in the past year. The Fedâ€™s preferred measure of inflation â€“ for personal consumption expenditures, or PCE […]
It seems as if more and more people are beginning to beat the “sell your bonds” drum. The argument is simple: bonds are at the end of a 30-year bull market, and rising rates going forward will present a treacherous environment for bond holders. So, should you own any bonds at all? Before […]
Now that we have made it to the halfway point of 2012, it is instructive to look back at the first half of the year and focus on how one might look at things going forward. As always, I also want to provide some perspective that you may not be getting elsewhere. This year, the […]