The notable baseball philosopher, Yogi Berra, purportedly said that’s making predictions is hard “especially about the future”. Federal Reserve officials, as well as investors, are learning that lesson the hard way. This week alone, a procession of policymakers admitted that they made a mistake about their inflation predictions, acknowledging more forcefully again that price increases…
The inflation dragon reared its head again, unsettling the financial markets and upending expectations of when, or even if, the Fed will lower interest rates this year. Clearly, Fed officials were not happy with the March consumer price report released on Wednesday, which came in hotter than expected for the third month in a row…
They did it again. In what’s become a distressingly common occurrence, the Labor Departmentrevealed another upside surprise on the jobs front, revealing that the economy created an eyeopening 303 thousand net new jobs in March, far above the consensus forecast of roundly a 200thousand gain. True, revised figures cut 5 thousand jobs from the previous…
Like the Energizer Bunny, the US economy continues to forge ahead, expanding well beyond the expiration date that last year’s recession worriers thought would have arrived by now. Not only did a slew of incoming data this week depict more stamina in activity last month than expected, but the economy had more momentum at the…