Reading the shift….
Politically, Mr Biden needs the markets’ forward looking indicators to be off. In seven weeks the Democratic Party will be tested in the mid-term elections. Mr Biden is counting on an argument that he is the steward for a recovering economy and that he will need majorities in the House and the Senate to continue his inflation reduction agenda.
For traders, I would expect that increased short term rates will make the dollar more attractive and politically will find Mr Biden having to spin a new and positive narrative around rising rates.
Politically, labor markets will continue to take on some importance, but as the structure of labor continues to change in the face of the growing value of financial assets, labor will play a less important component in determining the strength of the economy.
Labor will be the next “to what end” question.
I am making a call for your support. Four years ago I took an interest in international trade and the … More
Interbank. Why do market-makers provide high leverage? Given that a high percentage of forex traders lose money, do these brokers take advantage … More
January 19, 2022 As prepared for delivery Thank you, Mayor Suarez, and thank you all for welcoming me. More than … More
The following remarks by Federal Reserve Governor Lael Brainard were delivered yesterday before the annual conference of the National Association … More
The following is a press release from the U.S. Department of the Treasury: “In the final quarter of 2020, the … More
Yesterday, the Federal Reserve Bank of New York released its October 2020 Survey of Consumer Expectations. Overall, consumer expectations regarding … More
Alton Drew, Consiglieri 