Ben Bernanke popularized the wealth effect theory during the financial crisis in 2008. In his...
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The Market Drawdown Is Perfectly Normal
Given the fear as represented in investor surveys and various sentiment gauges a couple of weeks...
UM Inflation Expectations May Oddly Signal Disinflation
The graph below, courtesy of Jeff Weniger, shows that since 1990, spikes in the University of...
The Key to Lower Inflation May Start with Stock Prices
The key to lower inflation may start with the stock market and feed into the economy rather than...
Retail Sales Are Better Than Advertised
Within the headline retail sales figure is a lesser-followed data point called the retail sales...
The FOMC Shifts To A Dovish Tone
As the market widely expected, the FOMC left the Fed Funds rate unchanged. However, the statement...
The Sentiment Bark Is Worse Than The Market’s Bite
The old saying that the bark is worse than the bite is a good description of the current state of...
Transportation Stocks Continue To Lead Markets Lower
In our Commentary last week, we noted that Delta shares were down over ten percent due to their...
Orange Juice And Egg Prices Provide Welcome Relief
As we have mentioned numerous times, consumer sentiment greatly impacts economic activity....
The Rotation To Value From Growth: What Comes Next?
In hindsight, markets are easy to assess, yet extremely challenging to forecast. For example, as we...