Tag Archives: FOMC

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Cumberland Advisors Market Commentary – The December FOMC

Author: Robert Eisenbeis, Ph.D., Post Date: December 18, 2020
Federal Reserve - FOMC

Prior to the Fed’s December FOMC meeting there was a general consensus among economists (see the December NABE forecast, for example) that the Committee would not change its federal funds rate target. But the media was filled with speculation that the FOMC would possibly increase its asset purchase program or begin to purchase longer-maturity Treasuries. […]

Cumberland Advisors Market Commentary – Fed Vacancies – the Dilemma As of 11/23/2020

Author: Robert Eisenbeis, Ph.D., Post Date: November 23, 2020
Federal Reserve Building

As the Biden administration begins to float the names of potential cabinet members, an interesting scenario and potential dilemma faces the Federal Reserve Board. Normally, there are seven members of the Federal Reserve Board, but at present there are only five, with two vacant positions. One vacancy has existed since March 2014 when Sarah Bloom […]

Cumberland Advisors Market Commentary – Q&A with Christopher Whalen

Author: David R. Kotok, Post Date: October 27, 2020
Market Commentary - Cumberland Advisors - Q&A with Chris Whalen

Christopher Whalen is a longtime friend and confidant, so this interview with him inevitably reflects the sorts of biases that result from engaging, enlightening conversations over many years. Many know Chris from TV appearances or press quotes or social media commentary. Others may know his three successful books: Inflated: How Money and Debt Built the […]

Cumberland Advisors Market Commentary – Hope – An Update

Author: Robert Eisenbeis, Ph.D., Post Date: October 2, 2020
Cumberland Advisors Market Commentary - Hope – An Update - Robert-Eisenbeis, Ph.D.

Our commentary “FOMC: Hope Now Seems to Be a Strategy” (https://www.cumber.com/cumberland-advisors-market-commentary-fomc-hope-now-seems-to-be-a-strategy/) focused on the FOMC’s latest decision to keep its target for the federal funds rate between 0–.25%, to change its strategy for policy going forward to focus on shortfalls in labor markets from what the Committee perceives to be full employment, and to shift […]

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: Hope Now Seems to Be a Strategy

Author: Robert Eisenbeis, Ph.D., Post Date: September 18, 2020
Cumberland Advisors Market Commentary - FOMC Hope Now Seems to Be a Strategy (Eisenbeis)

The FOMC finished its September deliberations and published its first statement and Summary of Economic Projections (SEPs) since the revision of its policy strategy was announced on the eve of the Kansas City Fed’s annual August Jackson Hole Symposium. The statement began by reiterating that the FOMC stands ready to employ its full range of […]

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 – The Fed — What Next?

Author: Robert Eisenbeis, Ph.D., Post Date: February 10, 2020
Cumberland Advisors Market Commentary

With the no-change decision by the FOMC, rendered as the impeachment finale was playing out, and with the next FOMC meeting about a month away, the most important upcoming event for the Fed is Chairman Powell’s semiannual testimony before Congress this week. The Board’s report is already out, and it provides a fairly clear indication […]