Tag Archives: Independence


Cumberland Advisors Market Commentary – America’s Birthday

Author: David R. Kotok, Post Date: July 4, 2020
Happy Birthday America

We celebrate America’s birthdate on July 4. For the great document declaring our independence to become a new kind of nation, we say “thank you” to Thomas Jefferson, author, and Benjamin Franklin, editorial consultant. During a seminar years ago at the National Constitution Center in Philadelphia, I was fortunate enough to participate in a lengthy […]

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.