St Louis Fed

St Louis Fed

Magical Thinking

... the more we embrace and encourage state-directed magical thinking, whether it’s of the monetary or fiscal policy sort, what we are actually doing is opening the city gates to the old evil magic and the alt-priests of fascism and totalitarianism.

"All Eyes On Central Banks" In September, But "No Reason To Smile"

September will be quite a busy month for investors since there are around 30 major central banks meetings scheduled. Since the Bank of England’s last policy announcement, the total monthly amount in global official quantitative easing has reached almost $200 billion, which corresponds, for the purpose of comparison, to Portugal’s annual GDP in 2015. Long-rumoured and oft-discussed, QE infinity is now a reality.

The Reckoning Looms - Central Bankers Really Don't Know What They're Doing

What is happening this year is astounding. After saying year after year after year that the recovery is coming, and even doing so to the point of condescension, the admissions of wrongfulness are starting to roll in, if only softly at first. How ludicrous does “transitory” look now?

Why Is FaceBook Funding "Anti-Fed" Activists

That's what St. Louis Fed president James Bullard would like to know: "I think that Dustin Moskovitz should be here, maybe he can helicopter in from Sun Valley or something instead of sending all these people, if he wants low interest rates."

Why The Average American Is Angry (In 6 Simple Charts)

The last 20 years have brought great wealth to a few while most of the population was lucky to break even. Whether you’re a member of the elite/protected class or one of the unprotected, it’s hard to deny this reality. Globalization has created divisions between skilled and unskilled workers. Too few of the gains from growing trade are going to the unprotected class. They’re angry. We’re seeing this backlash now in people’s attraction to Trump, who promise to bring jobs back.

European Stocks Drop, Futures Flat As Rising Dollar Pressures Oil, EMs: All Eyes On The Fed Minutes

European stocks are down led by tech, chemicals, alongside EM stocks which retreated from near a one-year high and oil fell for the first time in a week after hawkish comments from Federal Reserve officials revived bets on U.S. interest rate rises this year, and pushed the dollar higher from 7 week lows ahead of today's Fed Minutes. S&P 500 futures were little changed following yesterday's drop from record highs

Fed's Williams Calls For An Overhaul Of Monetary And Fiscal Policy... But There Is A Problem

According to John Williams, central banks and governments must come up with new monetary and fiscal policies to kickstart a global economy which is barely growing (thanks to 7 years of flawed monetary policy). "We can wait for the next storm and hope for better outcomes or prepare for them now and be ready." As a result, Williams believes that a major fiscal stimulus thrust is now critical to propel the US economy higher. And he is, mostly, right. There is just one problem...

Key Events In The Peak Vacation Season Week

With Wall Street hitting peak vacation season, it is a quiet week for news. The key economic release this week is CPI inflation on Tuesday. There are several scheduled speaking engagements from Fed officials this week. Many will be looking for signs of hawkishness Minutes from the July FOMC meeting will be released on Wednesday.

If You’re Looking For A New Job, Skip The Applications And Phone A Friend

If you’re looking for a new job, skip the applications and phone a friend. That’s the ideal way to clinch a new position according to recent research by David Wiczer at the St. Louis Fed. He looked at the Survey of Consumer Expectations from 2013 to compare employment trends on those who “directly contacted organizations about posted vacancies or received referrals through their network.” Here are his findings: