Tag Archives: Robert Eisenbeis

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Cumberland Advisors Market Commentary – Whatever It Takes!

Author: Robert Eisenbeis, Ph.D., Post Date: March 9, 2020
Federal Reserve Building

Tuesday morning March 9, the Federal Reserve Bank of New York announced an increase in the current monthly schedule of repo transactions designed to deal with short-term liquidity problems for primary dealers and certain other market participants: from $100 billion to $150 billion in overnight repos and for two-week term repos from $20 billion to […]

Cumberland Advisors Market Commentary – Did the Fed Just Waste 50 Basis Points?

Author: Robert Eisenbeis, Ph.D., Post Date: March 6, 2020
Market Commentary - Cumberland Advisors - Did the Fed Just Waste 50 Basis Points?

On Tuesday morning, shortly after the market opened, the Fed did what other central banks concerned about the coronavirus didn’t do, and that was cut its policy rate. Not only did it cut the rate, it did so by 50 basis points, dropping its policy rate to the range of 1%–1.25%. As the chart below […]

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 […]

What to Expect When China’s Markets Reopen

Author: , Post Date: January 31, 2020
Cumberland Advisors Robert "Bob" Eisenbeis Ph.D. In The NewsCumberland-Advisors-Robert "Bob" Eisenbeis Ph.D. In-The-News

Excerpt from… Barron’s – What to Expect When China’s Markets Reopen Jan. 31, 2020 Job Outlook Firms Cumberland Advisors Market Commentary by Cumberland Advisors Jan. 28: Perhaps the most telling information about how strong the economy is concerns the job market. On almost any measure, the job market is strong. To be sure, the December […]

Cumberland Advisors Market Commentary – The Trade Policies

Author: Robert Eisenbeis, Ph.D., Post Date: January 14, 2020
Cumberland Advisors' Robert "Bob" Eisenbeis, Ph.D.

Beginning in 2018, in a long sequence of actions, the US enacted tariffs on goods from a number of countries besides just China. In some cases the affected countries responded with their own retaliatory tariffs on US products. As a consequence of the timing and the short periods that many of the tariffs have been […]

Cumberland Advisors Market Commentary – Bob Eisenbeis shares Personal Reflections of Paul Volcker

Author: Robert Eisenbeis, Ph.D., Post Date: December 24, 2019
Market Commentary - Cumberland Advisors - Paul Volcker as remembered by Robert Eisenbeis, Ph.D.

Despite Volcker’s tendency to listen to only a few close associates when it came to key policy issues, but unlike Arthur Burns, he was respectful and tolerant of staff. I was fortunate enough to have a chance five years or so ago to sit down with Paul at a Federal Reserve Bank of Chicago conference and discuss the past. Among his key attributes were his integrity, the quality of his public service, his concern for the independence of the Fed, and his commitment to break the back of inflation despite the personal and political attacks he incurred in response to his policies designed to achieve that end.

Cumberland Advisors Market Commentary – FOMC ZZZZZZZZZZZZ

Author: Robert Eisenbeis, Ph.D., Post Date: December 16, 2019
Federal Reserve - FOMC

“Boring” was how commentators on at least one network characterized the FOMC’s December 11th decision to hold rates constant. It was, in fact, a no-brainer decision given the strong labor market, which created 266 thousand jobs in November; strong consumer spending based upon the Black Friday and Cyber Monday sales data; an unemployment rate at […]

Cumberland Advisors Market Commentary – Overshadowed?

Author: Robert Eisenbeis, Ph.D., Post Date: November 19, 2019
Federal Reserve - FOMC

Public attention this past week was riveted on the impeachment testimony before the House Intelligence Committee, which totally overshadowed Chairman Powell’s semiannual report and two days of testimony to Congress on monetary policy. That outcome is probably not a bad one, since there were no new insights provided nor any clues as to when or […]

What the FOMC Said

Author: Robert Eisenbeis, Ph.D., Post Date: November 1, 2019
Cumberland Advisors' Robert "Bob" Eisenbeis, Ph.D.

Following the FOMC’s announcement of its third consecutive rate cut after its meeting this week, speculation immediately broke out among market participants about whether additional cuts or even rate increases might be on the horizon going into 2020. However, such speculation is probably more noise than substance at this point, since the Committee’s statement was […]