Tag Archives: Chairman Powell

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The IRA: Powell Fed Embraces Monetary Relativity

Author: Chris Whalen, Post Date: September 23, 2020
Cumberland Advisors Robert "Bob" Eisenbeis Ph.D. In The NewsCumberland-Advisors-Robert "Bob" Eisenbeis Ph.D. In-The-News

Chris Whalen quotes Bob Eisenbeis and others for his publication, The Institutional Risk Analyst, on financial and banking issues. Read this excerpt from a September 2020 edition or the full post linked below. The idea of the FOMC deciding when average inflation targeting (AIT) has made up for periods of price deflation seems to stretch […]

Cumberland Advisors Market Commentary – FOMC and Revisions to Its Longer-Run Policy Strategy

Author: Robert Eisenbeis, Ph.D., Post Date: August 28, 2020
Market Commentary - Cumberland Advisors - FOMC and Revisions to Its Longer-Run Policy Strategy

On the day of Chairman Powell’s opening speech for this year’s virtual annual Jackson Hole Economic Policy Symposium, hosted by the Kansas City Fed, the Federal Reserve released an update to its January 2012 “Statement on Longer-Run Goals and Monetary Policy Strategy.” This commentary describes the changes in the strategy and discusses what may be […]

Cumberland Advisors Market Commentary – The FOMC: Whatever (and However Long) It Takes

Author: Robert Eisenbeis, Ph.D., Post Date: June 17, 2020
Market Commentary - Cumberland Advisors - The FOMC Whatever (and However Long) It Takes

To no one’s surprise, the FOMC in its June meeting reaffirmed its 0–25 basis-point target for the federal funds rate. Markets did not react well, especially since the announcement came on the heels of a fairly downbeat assessment by Chairman Powell regarding the expected slow path for the recovery and the problems in the labor […]

Cumberland Advisors Market Commentary – To Pass or Not to Pass (Part 3)

Author: Robert Eisenbeis, Ph.D., Post Date: August 1, 2019
Market Commentary - Robert-Eisenbeis - To Pass or Not to Pass (Part 3)

The FOMC decided to throw a pass by cutting rates; but given the market’s response, it looks like they were tackled for a loss. In Woody Hayes’ parlance, the one positive of a forward pass turned into a negative. Powell attempted to offer three justifications for the policy move: to insure against downside risks, to […]

Cumberland Advisors Market Commentary – Hope Is Not a Strategy

Author: Robert Eisenbeis, Ph.D., Post Date: May 7, 2019
Federal Reserve - FOMC

On Wednesday, the FOMC left its policy stance unchanged. This decision was consistent with the message sent after the previous meeting and was not contradicted by speeches given by FOMC participants in the intermeeting period. This action was also consistent with the consensus view of economists who follow the Fed. Indeed, of the 39 economists […]

The Interview: David Kotok on GSIBs, Markets & Central Banks with Chris Whalen

Author: Chris Whalen, Post Date: March 14, 2019
Market Commentary - Cumberland Advisors - The Interview David Kotok on GSIBs, Markets and Central Banks

My friend Chris Whalen was kind enough to use an interview he did with me in his weekly publication on financial and banking issues, The Institutional Risk Analyst. Chris has had a distinguished career, and it was a pleasure to interact with him again. This summer Chris and I are cohosting the June gathering at […]

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 […]

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 […]