October 5, 2017— While President Trump is still early in his tenure, it is fair to speculate that one of his most influential contributions will come in the appointments he will make to key posts within the Federal Reserve Board (“Fed”). The composition of the Fed has incredibly important implications for the U.S. and international financial systems.
September 21, 2017 — As we had anticipated for several months, the Federal Open Market Committee (FOMC) of the Federal Reserve announced the start of “normalization” of its balance sheet following the meeting this week. This means committee members believe they can and should start to reduce the overall size of the Fed’s balance sheet, which has stood at about $4.5 trillion for the past three years following several “quantitative easing” (QE) programs.
September 18, 2017 — After five months of sitting in the doldrums, core consumer prices (excluding food and energy) rose by 0.2% month over month in August, the largest jump since January. Headline and core inflation rates are still holding below the Federal Reserve Bank’s (Fed’s) 2% inflation target, at 1.9% and 1.