We Are Not Clear About a Future Fed Path, Says Cumberland Advisors’s Kotok July 31, 2019 David Kotok, chairman and chief investment officer at Cumberland Advisors, discusses the Fed decision and the way forward for markets. He speaks on “Bloomberg Daybreak: Asia.” Watch at Bloomberg TV or in the embedded player below.
Four states – CO, WY, ID, UT – in six days; private professional meetings, a few public gatherings, two Chatham House roundtables, and one half-day with a fly rod. My longtime friend Bill Dunkelberg and I brought nearly 40 trout to the net for release. An equal number escaped the net during the fight. Here […]
Much of the discussion at Camp Kotok in June is private and respectful of the Chatham House Rule. Unlike the August hubbub, June is smaller and without press. There are some items of conversation we can make available to readers. Here is a list. My views about the Fed come last. My fishing partner and […]
UBS Sees No Fed Rate Cut Until at Least 2021 June 18, 2019 David Kotok, Cumberland Advisors Chairman and CIO, and Laura Kane, UBS head of Americas investing themes, discuss their outlook for the Fed. They appear on “Bloomberg Daybreak: Americas.” Watch at Bloomberg TV or in the embedded player below.
My note today puzzles over the Fed’s sitting on the sidelines while other central bankers act together to mitigate a growing risk to national economies and the global financial system. As context for this discussion, please take a minute to read this report about the accelerated melting of ice in Antarctica: https://www.theguardian.com/environment/2019/may/16/thinning-of-antarctic-ice-sheets-spreading-inland-rapidly-study. Now to the […]
For a history of the Fed Board of Governors and its changes over the past century, see https://www.federalreserve.gov/aboutthefed/bios/board/boardmembership.htm . Right now we have five of seven governors’ seats filled. One of those seats is held by Lael Brainard, and she is in a holdover capacity. She was appointed by President Obama in 2014. In a perfect […]
“If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%…with almost no inflation. Quantitative tightening was a killer, should have done the exact opposite!” – President Donald Trump, April 14, […]
Attention has turned to what extra gems of information might be contained in the release of the FOMC’s January 2019 minutes about the future path of policy. Comments have focused on the Fed’s balance sheet, the consequences of its runoff for financial markets, and what the Fed’s policies might be going forward in terms of […]