Tag Archives: Robert Eisenbeis

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The November FOMC and the Election

Author: Robert Eisenbeis, Ph.D., Post Date: November 2, 2018
Federal Reserve - FOMC

The November FOMC meeting is scheduled for November 7 & 8, one day after the November 6 midterm election. We are not looking, then, at the possibility of any further FOMC action on interest rates that might influence the election one way or another, but what about after the election? Is the FOMC likely to […]

Federal Reserve Independence – Under Attack Again?

Author: Robert Eisenbeis, Ph.D., Post Date: October 18, 2018
Federal Reserve - Independence

The last few days, President Trump has made inflammatory and in some instances misguided remarks as to the nature of current Fed policy, its impact on the stock market and potentially on the economy. Examples follow: “It is a correction (the decline in the stock market) that I feel is caused by the Federal Reserve.” […]

FOMC Closes Out Q3 2018

Author: Robert Eisenbeis, Ph.D., Post Date: September 28, 2018
Federal Reserve - FOMC

As Treasury markets had correctly predicted, the FOMC raised its target range for federal funds by 25 basis points to 2.0%–2.25% at its meeting on Wednesday, Sept. 26. Perhaps more importantly, it also deleted the observation that policy remains accommodative, though Chairman Powell went out of his way in his opening remarks to point out […]

Whack a Mole

Author: Robert Eisenbeis, Ph.D., Post Date: July 25, 2018
Cumberland Advisors Market Commentary by Robert Eisenbeis, Ph.D.

In the latest on US trade policy, we are now starting to see the economic consequences of starting a tariff war. Farmers have been complaining that they are being hurt irreparably by the imposition of tariffs in retaliation for the tariffs being imposed on China and our allies. The Trump administration is now proposing to […]

Fed Independence

Author: Robert Eisenbeis, Ph.D., Post Date: July 23, 2018
Cumberland Advisors Market Commentary by Robert Eisenbeis, Ph.D.

In the wake of the turmoil in Washington, DC, over his performance in Helsinki, President Trump also took a sideswipe at the Federal Reserve, criticizing the FOMC’s recent efforts to normalize policy.

Most presidents – though not all – have understood that Fed independence ensures separation from the Treasury and serves as a check on fiscal excesses. When a central bank takes orders from the fiscal side of government, history shows that inflation and economic decline soon follow.

Mexico and Trade

Author: Robert Eisenbeis, Ph.D., Post Date: February 7, 2017

The state of US trade with Mexico is on the front page as policy makers attempt to stem the outflow of firms, jobs, and goods production from the United States. To put the issues in perspective, it is first helpful to have some facts on US trade in general and trade with Mexico in particular. […]

How Safe is Your Bank?

Author: David R. Kotok, Post Date: July 25, 2008

In 1790, Edmund Burke, the founder of Anglo-American conservatism, waxed eloquently about the power and responsibilities of a government’s agencies in a democracy. He said: “To execute laws is a royal office; to execute orders is not to be king.  A political magistracy, though merely such, is a great trust.”  This warning came before there […]