July 25, 2021

The Markets  Shortest ever. Last week, the National Bureau of Economic Research (NBER) finally announced the official dates for the recession that occurred in 2020. Economic activity peaked in February 2020 and bottomed in April 2020. That makes the pandemic recession...

July 19, 2021

The Markets The term “peak growth” has become almost as popular as the comedy show Ted Lasso. Peak growth is a catchphrase with the potential to mislead. When the term is applied to the U.S. economy, it does not mean the United States economy has reached the pinnacle...

July 12, 2021

The Markets There was a gapers’ block in financial markets last week as equity investors slowed to see what the United States Treasury bond market was up to. U.S. Treasury bonds rallied last week. Yields on 10-year Treasuries dropped from 1.43 percent at the start of...

July 6, 2021

The Markets The world is about halfway back to normal. The Economist developed the Global Normalcy Index (GNI) to measure the post-pandemic return to normal. In March 2020, the GNI was 35 overall, with 100 being the normal pre-pandemic level. At the end of the second...

June 28, 2021

The Markets What begins with the letter “I”? Infrastructure is essential and sometimes taken for granted. Pipes carry drinking water to our homes, offices, and healthcare facilities, and carry away sewage and wastewater. Highways, airports, railroads, waterways,...

June 21, 2021

The Markets Is that a hawk? The Federal Reserve Open Market Committee (FOMC) met last week. They get together eight times a year to review current economic and financial conditions, assess risks to price stability and economic growth, and adjust monetary policy...