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Monetary Policy
August 1 2022
Liquidity .
Article See you in September
August 1 2022

Next month will mark a half-year of hikes, time enough to evaluate their impact.

August 1 2022
Markets/Economy .
Article We're not in a recession...yet
July 29 2022

But high inflation and Fed tightening are taking us closer.

July 27 2022
Monetary Policy .
Article Another big swing
July 27 2022

The Fed raises interest rates by 0.75% for the second month in a row.

July 22 2022
Monetary Policy .
Article Hawkish Fed argues for keeping defense on the field
July 21 2022

Rising recession risk favors defensive dividend stocks, cash and Treasuries.

July 15 2022
Markets/Economy .
Article Sizzling
July 15 2022

Hot inflation, stagflation concerns, recession fears and a hawkish Fed.

July 8 2022
Equity .
Article Malaise
July 8 2022

Markets might be setting up for '70s' era modest returns.

July 1 2022
Liquidity .
Article Perpetual motion
July 1 2022

The Fed’s willingness to shift on volatile data makes rate expectations difficult.

June 23 2022
Inflation .
Article There will be pain
June 22 2022

Unfortunately for workers, wage inflation at heart of Fed tightening.

June 15 2022
Monetary Policy .
Article Since you offered
June 15 2022

The market’s late shift in expectations gave the Fed the opportunity for a 0.75% hike.

June 10 2022
Active Management .
Article Defense still rules in this market
June 10 2022

Fed should give investors no reason to stray from short-duration, value strategies.

June 28 2022
Liquidity .
Article Ear to the ground
June 1 2022

The Fed must rely on the data and not its policy framework to curb inflation.

May 6 2022
Monetary Policy .
Article Driving the point home
May 4 2022

With a 50 basis-point hike, the Fed hopes to stick it to inflation. 

May 2 2022
Liquidity .
Article The table is set
May 2 2022

The Fed rate cycle and the SEC money fund reform process are ready to begin in earnest.

April 28 2022
Monetary Policy .
Article Investors should stay defensive if the Fed follows its rhetoric
April 28 2022

More rate hikes would favor cash, floating-rate securities and value stocks.

May 13 2022
Interest Rates .
Article Federal Open Mouth Committee
April 26 2022

The Fed's abundant messaging has the market doing its work for it.

April 22 2022
Markets/Economy .
Article Dominos falling
April 14 2022

Russia’s invasion, higher energy costs, soaring inflation, hawkish Fed…

May 10 2022
Fixed Income .
Article Mosaic of uncertainties merits caution
April 11 2022

Bonds wrestle with pricing Fed, war and inflation outcomes.  

April 8 2022
Equity .
Article The Fed WILL succeed
April 8 2022

The only question for investors: at what cost?

April 26 2022
Markets/Economy .
Article Is the equity head fake over?
April 7 2022

A host of negative factors could end the recent rally.

April 25 2022
Equity .
Article Call us 'cautious bulls'
April 5 2022

Year-end S&P forecasts for 2022 and 2023 lowered to 4,800 and 5,100.

April 7 2022
Liquidity .
Article Balancing expectations
April 1 2022

The Treasury yield curve isn't matching the futures market’s view of rate hikes.

March 18 2022
Monetary Policy .
Article Fed takeaway: yields are heading higher
March 17 2022

Policymakers don't want to undo 40 years of restrained inflation expectations.

April 4 2022
Monetary Policy .
Article An aggressive Fed
March 16 2022

The Fed hiked rates and put inflation on notice with hawkish projections.

March 17 2022
Ukraine Crisis .
Article Geopolitical risks
March 7 2022

Ukraine, energy, inflation and Fed driving markets.

March 1 2022
Monetary Policy .
Article Rates' projected path looms large
March 1 2022

The FOMC 'dot plot' will be as important as an actual hike.

March 7 2022
Ukraine Crisis .
Article Conflict may slow Fed's plans
February 24 2022

The crisis in Ukraine likely takes a 50 basis-point hike in March off the table. 

February 24 2022
Equity .
Article 'Good news,' 'Bad news' and 'Not news'
February 15 2022

A better back-half looms for equity investors. Getting there could be rocky.

February 11 2022
Equity .
Article Walking a tightrope
February 11 2022

Fed must juggle inflation versus recession risks.

February 24 2022
Monetary Policy .
Article Ready, set...
February 1 2022

Rate normalization is almost a go.

April 7 2022
Monetary Policy .
Article A hawkish clarification
January 26 2022

The Fed didn't raise rates today, but Chair Powell let the markets know it's coming.

February 8 2022
53198 .
Article Onward and upward
January 3 2022

Three things to watch in 2022.

December 17 2021
Equity .
Article Do you suppose Santa is wearing a mask?
December 17 2021

Omicron is weighing on psyches, but not so much markets ... yet.

December 15 2021
Monetary Policy .
Article Acceleration
December 15 2021

The Fed increases the pace of taper and expectations for rate hikes.

December 17 2021
Equity .
Article There's a reason it's called the 'Wall of Worry'
November 22 2021

Market risks stay skewed to upside but inflation and possible policy errors lurk.

November 3 2021
Monetary Policy .
Article Taper is on; rate hikes TBD
November 3 2021

The Fed announced it will cut the pace of its asset purchases, but not on a preordained path.

December 1 2021
Liquidity .
Article A familiar course
November 1 2021

The success of the Fed’s first taper gives us confidence it will work well again.

November 23 2021
Equity .
Article Lots to worry about ... fueling the bull forward
October 22 2021

Still room to run, with a tilt toward cyclical companies with pricing power. 

November 10 2021
Fixed Income .
Article Maybe markets should forget about 'transitory'
October 14 2021

Stubbornly higher inflation doesn't mean the Fed's wrong ... yet.

October 21 2021
Fixed Income .
Article Grinding it out
October 8 2021

Bond market plods ahead amid looming uncertainties.

October 20 2021
Liquidity .
Article Capitol expenditures
October 1 2021

The drama over the debt ceiling is a waste of time and energy.

October 13 2021
Monetary Policy .
Article Servicing the debt
September 27 2021

Investment managers, the finance industry and the Fed have contingencies for the debt ceiling drama.

September 22 2021
Monetary Policy .
Article A hawkish Fed tilt
September 22 2021

Taper may start in November, with first rate hike by late next year.

October 20 2021
Equity .
Article Correction odds rise but long-term outlook strong
September 20 2021

A near-term pullback could represent an opportunity for long-term investors.

September 20 2021
Markets/Economy .
Article Should he stay or should he go?
September 17 2021

Biden’s decision on Powell and others risks market volatility

September 22 2021
Liquidity .
Article No surprises this time
August 31 2021

Fed Chair Powell stuck to the script at the central bank symposium.