Are Market Players Mispricing Fedspeak?

A barrage of comments from FOMC members last week has bumped up market expectations of Federal Reserve rate hikes.  However, it’s not clear that market players are adjusting their rate expectations correctly; the U.S. Treasury curve has steepened (Figure 1). Continue reading Are Market Players Mispricing Fedspeak?

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Central Banks Should Focus Stimulus Efforts on Equities

Weak economic activity, central bank balance sheet risks, and misaligned investor incentives can be alleviated.  My latest at the Huffington Post: http://www.huffingtonpost.com/european-horizons/draghi-other-central-bank_b_11968802.html

Is There a Place for a Financial Transaction Tax?

Financial transaction taxes have long been a topic of discussion in econ circles, the most famous of which is the so-called “Tobin tax” designed to help protect against undue currency speculation.  Considerations of their potential utility have risen again since the financial crisis that brought down the world economy in 2008.   Continue reading Is There a Place for a Financial Transaction Tax?