Markets are confused. Rate-hike expectations on the short end have been pushed back to December from September. Yields, however, are rallying on the long end. Just a few weeks ago, Fed Chair Warsh was thanking the bond market for higher … Continued
In an otherwise lackluster post-Great Recession recovery, housing has provided decent support to the U.S. economy. The only question is durability – or a lack thereof. Off post-bubble lows, sales of existing homes increased from a seasonally adjusted annual rate … Continued
U.S. consumer spending, accounting for >2/3rds of economy, key to growth Over last eight years, bank deposits have grown 80 percent But interest income suppressed due to ZIRP Do consumers always benefit from low interest rates? At first glance, that … Continued