Investment Commentary

Soon after the most recent Federal Open Market Committee meeting – where the Fed’s Governors determine the level of interest rates (i.e., the Federal funds rate) – when the Fed…

In 1992 George H.W. Bush proclaimed, “We can reap a genuine peace dividend this year and then year after year, in the form of permanently reduced defense budgets”.  As can…

In our quarterly Commentary issued late last month, we wrote briefly on labor cost inflation due to the “graying” of our population and recent pandemic sickness.  As to the former,…

OUR LABOR PUZZLE……. It has continued to be the case that labor shortages in too many businesses have been a major headache.  “Tight” labor markets have led to higher payrolls…

As we start 2023, let’s take a look at a chart put out by the Chicago Fed, the Financial Conditions Index, which measures the current economic conditions in the US…

What parent has not heard that oft repeated question from the back seat of a car: “are we there yet”?  Usually, the repetition of the question picks up nearer the…

“YOU’RE ALWAYS ON MY MIND…….YOU’RE ALWAYS ON MY MIND……” Willie Nelson, Singer/Song writer Inflation is on everyone’s mind, all the time.  There is no economic indicator which carries as much…

“The only thing that’s new is the history you don’t know.” Harry S. Truman Anxiety, dread, sleepless nights – all valid descriptors of investor life today and for the past…

Not fully appreciated by those who worry loudly about U.S. inflation is the impact of a near flatlined Chinese economy on world inflation.  China is the world’s second biggest economy…

Before trying to foretell too much about the future, let’s “set the table”.  Let’s see where we are economically, financially and sentimentally – then launch into what we may see. …