Yesterday's FOMC statement was a reminder that in normal times the Federal Reserve moves slowly and methodically. Policymakers were apparently concerned that removal of "considerable time" by itself would prove to be disruptive.
November 18, 2014: it’s a day that should live forever in history. On that day, in the city of Yiwu in China’s Zhejiang province, 300 kilometers south of Shanghai, the first train carrying 82 containers of export goods weighing more than 1,000 tons left...
The cluster of Hindenburg Omens on the NASDAQ, S&P 500, and Russell 2000 correctly warned of a pullback in the markets but now that we appear to be stabilizing with the FOMC meeting out of the way how should investors view the recent market weakness?
The Fed remains in the spotlight today, with the central bank expected to give investors a roadmap for the future course of monetary policy. There are plenty of other headlines as well, ranging from a continued oil price sell-off...
Winston Churchill famously said of Russian foreign policy that it was "a riddle, wrapped in a mystery, inside an enigma." What people leave out is what followed. Churchill offered an answer: "perhaps there is a key. That key is Russian national interest."
Recent remarks by ECB President Mario Draghi have promised to tackle the near-recession level of activity plaguing the Eurozone. But while words have come often, there has been far less action from the central banking system, which seems rife with internal debate and political issues.
No coercive monopoly or business able to sustain its prices without regard for competition can prevail in a free market. Its profits, above those prevailing in the market, will attract competitors, either producing its product or an alternative product, and they will gain market share by charging lower prices.
Last week I flew into Moscow, arriving at 4:30 p.m. on Dec. 8. It gets dark in Moscow around that time, and the sun doesn't rise until about 10 a.m. at this time of the year — the so-called Black Days versus White Nights. For anyone used to life closer to the equator, this is unsettling.
In the wake of a widely unexpected, huge oil price decline, I have received many questions and comments. Some speculate U.S. pressure on Saudi Arabia to punish Russia. Others think "big oil" is out to punish the frackers.
The string of solid U.S. economic news continued with industrial production advancing 1.3% in November. Year-over-year growth (5.2%) is now comparable to the late-90's. Meanwhile, the international fallout from the oil price drop continues. Russia is a classic emerging market crisis story.