Silver as an investment

Category Archives: Ethan Harris

“It Is A Battle Between Data And Theory” – Fed PhDs Second-Guess Inflation Model After 5 Years Of Failure

Federal Reserve officials are finally waking up to the fact that there’s something wrong with their inflation models. It only took them five years. As Bloomberg points out, the minutes from the Fed’s July policy meeting, released yesterday, included a debate about whether the models that help the central bank set its inflation target are […]

Janet Yellen Is About To Speak: Here’s What To Look For

Fed Chair Yellen will be testifying to the House Financial Services committee at 1000EDT, followed by testimony tomorrow before the Senate Banking Committee (the testimony for both events is likely to be identical, as it has on previous occasions), however her prepared remarks will be released 90 minutes earlier, at 8:30am. Courtesy of RanSquawk, here […]

Bank Of America: “Previously This Has Only Happened In 2000 And 2008”

Although it will not come as a surprise to regular readers that, for various reasons, loan growth in the US has not only ground to a halt but, for the all important Commercial and Industrial Segment, has dropped at the fastest rate since the financial crisis, some (until recently) economic optimists, such as Bank of […]

9 Lessons From The Reagan Tax Cuts

A close look at the ’86 tax reform shows why tax reform may not get done this year. As BofAML's Ethan Harris notes, "we are skeptical." Significant tax reform creates winners and losers, which may make it hard to find a "coalition of the willing." Via BofAML, Is it a done deal? By some accounts, […]

BofA Explains Why US Consumers Are Spending Less, Saving More

One of larger banks to have undergone a substantial downshift in its outlook on the market and the economy, is Bank of America, which continued the dour mood this morning when in note by its economist Ethan Harris it again pointed out that US consumer spending has “settled at a lower trend.” Here are the […]

From Reflation To Redistribution: The “War On Inequality” Looms

The bigger picture narrative, according to BofAML's Michael Hartnett, is that the policy baton is passing from Monetary to Fiscal stimulus in 2016/17. Simply put, central bank rate cuts are ending; and new policies to address the populist desire for a "War on Inequality" are emerging. This 'fiscal flip' – as Hartnett describes it – […]

What To Expect From Tomorrow’s Jobs Report And One Troubling Chart

Remember all those hyperbolic warnings over the years that “this is the most important jobs report” ever? Well, the one due out tomorrow may not be that, but it certainly is one of the most important ones in the past year, and one that will certainly have an impact if not on the Fed’s future […]

ZeroHedge: The Fed’s Rate Hike Plans Are Now “In Tatters” – What Wall Street Thinks

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Any “faint prospect” of a Fed July rate increase has entirely vanished, ING economist Rob Carnell wrote in note adding that the longstanding ING call for Sept. hike looks to be “hanging in tatters.”  Here are more comments, courtesy of […]

ZeroHedge: “Following A String Of Disappointing Data” BofA Capitulates On “Two Rate Hikes” Call

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Moments ago it was Goldman, and now here is Bank of America, which until today had expected at least two hikes in 2016 but following “a string of disappointing data”, it too has thrown in the towel. From the otherwise […]

ZeroHedge: Atlanta Fed Slashes Q1 GDP Estimate To Only 0.1%

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. After today’s latest atrocious wholesale inventory and sales data, we predicted that this may be the straw that tips Q1 GDP into contraction, or at best keeps it unchanged, per the Atlanta Fed. Atlanta Fed should be at 0.0% for […]