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No stimulus, no problem?

The calls for fiscal relief by the Federal Reserve have apparently fallen on deaf ears, as US President Trump pulled out of negotiations for a stimulus package last night. Asset markets were all over the place as investors digested the…

Economic downshift sinking in?

I want to run something by you here. It's entirely speculative but there are multiple threads hanging off of it that give me reason to speculate. It's about the trajectory of the US (and global economy) and signs that growth is slowing.…

The US labor market is deteriorating

Today's US jobless claims report makes clear that the boost from re-opening is now fading. And a second wave of job loss is upon us. As a result, while the US unemployment rate declined more than expected in the last jobs report, I expect…

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