Tag Archives: Federal Reserve

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The January 2019 Fed Minutes

Author: Robert Eisenbeis, Ph.D., Post Date: February 22, 2019
Federal Reserve - FOMC

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 […]

Cumberland Chair David Kotok (Podcast)

Author: , Post Date: February 1, 2019
Cumberland's David Kotok on Bloomberg Radio

Have you ever wanted to know more about the people who shape markets and business? P+L co-host Lisa Abramowicz sits down with Cumberland Advisors Co-Founder David Kotok to talk about his career path, stand out moments, and the advice he gives current students in business school. Running time 07:27 LISTEN HERE: Bloomberg Radio NOTE: Links […]

The Fed Is Guessing As it Plays With Fire: David Kotok (Radio)

Author: , Post Date: January 29, 2019
Cumberland's David Kotok on Bloomberg Radio

David Kotok, Chairman & Chief Investment Officer of Cumberland Advisors, on what to expect from the FOMC, balance sheet, and the outlook for bonds and markets. Hosted by Abramowicz and Paul Sweeney. Running time 12:42   LISTEN HERE: Bloomberg Radio NOTE: Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of […]

Can the President Fire the Chairman of the Federal Reserve?

Author: Robert Eisenbeis, Ph.D., Post Date: January 10, 2019
Cumberland Advisors' Bob Eisenbeis

The question has arisen, does the president have the ability to fire the chairman of the Federal Reserve. The short answer appears to be no. But few understand the structure of the Federal Reserve and how, by design, that structure both compartmentalizes and is designed to insulate policy making from attempts by outsiders to influence […]

How Trump’s trade war is unraveling the Trump rally

Author: , Post Date: January 4, 2019
Cumberland-Advisors-David-Kotok-In-The-News

How Trump’s trade war is unraveling the Trump rally Excerpts below. By Matt Egan, CNN BusinessThursday, January 3rd 2019, 9:39 AM HSTUpdated: Thursday, January 3rd 2019, 9:54 AM HST Evidence is mounting that the US-China trade war is dealing a blow to the American stock market. Stocks plunged on Thursday after Apple (AAPL) blamed a […]

Yogi Berra, the Fed’s Balance Sheet, and Liquidity

Author: Robert Eisenbeis, Ph.D., Post Date: December 28, 2018
Market Commentary - Cumberland Advisors - Yogi Berra, the Fed’s Balance Sheet, and Liquidity - The Fed’s Quantitative Easing Program

The story is that the Fed’s quantitative easing program injected large amounts of liquidity into financial markets, causing bond rates to fall and stock prices to accelerate. Consequently, the argument goes that, the shrinking of the Fed’s balance sheet through maturity runoff will cause bond rates to increase and, presumably, stock prices to retreat. But […]

Mnuchin tweets Trump denial as Republicans warn against firing Fed chairman

Author: , Post Date: December 22, 2018
Cumberland-Advisors-David-Kotok-In-The-News

By BURGESS EVERETT, BEN WHITE and VICTORIA GUIDA 12/22/2018 03:50 PM EST – Updated 12/22/2018 08:21 PM EST Financial markets have cratered in recent days amid a partial government shutdown, rising interest rates and signs of a slowing economy. Shelby said Trump did not bring up the prospect of firing Powell at a lunch with […]

Market Backlash

Author: Robert Eisenbeis, Ph.D., Post Date: December 21, 2018
Cumberland Advisors' Bob Eisenbeis

The Treasury market had priced in a 25-basis-point increase in the FOMC’s target range for federal funds prior to the FOMC’s December 18–19 meeting. The Committee was faced with essentially three policy options: Pause, deliver on the 25-basis-point increase and signal a pause, or deliver on the 25-basis-point increase and signal the willingness to continue […]