FOMC

On Wednesday, America’s central bank made its first downward adjustment to its Federal Funds Rate since the pandemic was just getting started back in March 2020.  This interest rate is what banks charge each other for overnight loans when their cash reserves aren’t adequate to meet weekly regulatory requirements.  While it does not impact other rates directly, the Fed Fund

American cuisine is complicated.  The nation doesn’t exactly have a uniform palette.  Instead we have regional differences.  Take marinades for instance.  In the Northeast, a common marinade is made with apple cider vinegar, maple syrup, mustard, garlic, and herbs.  In the South, a traditional marinade is made with buttermilk, hot sauce, garlic, and onion powder.

Employment data have been rather consistent during the past year or so and could be setting up the Federal Reserve for a period of difficulty.  Growing payrolls have been the trend every month since December 2020.  The year-over-year statistic has been above zero since April 2021.  Although, it has also been decelerating since then (see the chart above), partly due to the law of

The Odyssey is an epic poem written by Homer, telling the story of Odysseus, a Greek warrior embarking on a long journey home to Ithaca after the Trojan War. Along the way, Odysseus faces many adventures and must battle monsters, gods, and the sea itself. He eventually makes it home, but not before enduring a series of obstacles and tasks set by the gods.

Wednesday Morning, 3 A.M. is the first album released by Simon and Garfunkel.  The Sound of Silence is the last track on side one.  This hit song is about the inability of people to communicate and all the difficulties that accompany it.  America is facing such an episode now with our central bank.

America’s central bankers gathered for the first time this year earlier in the week.  Each year, four presidents of the Fed’s regional banks serve a 12-month term on the Federal Open Market Committee (FOMC) to help the seven governors and the President of the New York Regional Fed Bank set monetary policy, making this the first time for the current mix to decide on interest rat