Inflation: Three Shades of Gray

I left off last week with a discussion of the Federal Reserve’s interest rate policy and inflation. As I noted, the Fed may well be forced to raise rates faster than the market is now pricing in, as inflation increases. Click the photo to see the full...

The Growing Money Supply—Not a Risk

Yesterday, we concluded that the recent decline in money velocity is due to the money supply increasing faster than economic growth, rather than a collapse in growth itself. So, at worst, slower money velocity is a symptom of potential trouble rather than a cause....

Rising Interest Rates, Part 3: What About Investments?

This post originally appeared last spring and is part 3 of a series on what happens when interest rates start to rise. As this is the final post in my series on interest rates, it’s time to talk about what everyone is probably thinking: What happens to investments...