Jerome Powell

In Shakespeare’s Romeo and Juliet, Juliet reflects that “a rose by any other name would smell as sweet.” In other words, the essence of the thing (in her case Romeo), not the label, is what truly matters.

Every August since 1982, the Kansas City Branch of the Federal Reserve System hosts an event in Jackson Hole, Wyoming.  It’s like an economic summer camp, although they probably forego the sticky fingers that come with s’mores.  The idea is to foster open discussions about the economy, exchanging ideas and probably a few barbs.  Typically, the event centers around a s

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

There are endless choices of kids’ entertainment these days, so Atlas will opt for a more timeless cartoon to illustrate the point we’re trying to make: Wile E. Coyote and the Road Runner.  It’s all about the chase.  Unfortunately for Mr. Coyote, it happens to come with many missteps, often leading to a cascading outcome.

Inflation hurts most those who can afford it least.  Just ask the poor Tooth Fairy.  This mythical creature has been keeping up with the cost of living for a long time.  Despite the great dental plan her job comes with, she doesn’t seem to earn enough to retire.  Instead, she doles out money every night to kids as they sleep after their teeth fall out, no matter the ca

Macroeconomics can be very personal.  Those observing the changes in its machination are often watching the same or similar factors, yet their description of an economy can be very different.  While decorum is often kept in the field, sometimes things are said which evoke thoughts of obscenity.  This happened Wednesday as the Chair of the Federal Reserve, Jerome Powell, responded

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.

Each year the Kansas City branch of the Federal Reserve hosts a symposium in Jackson Hole, Wyoming.  It’s a who’s who of economics, finance, and central banking.  The world’s brain trust gathers to enjoy the bears, do some fishing, and see the natural beauty that accompanies any event with the Grand Tetons as a backdrop.  In between sessions with the great outdo

Technologist are busy creating machines capable of making human-like decisions in an instant.  Self-driving cars are probably the most obvious example.  In 2014 researchers at the MIT Media Lab introduced the Moral Machine, a website to crowdsource individuals’ decisions on how self-driving cars should prioritize lives in accident scenarios (e.g., how should it react when faced