Tim Geithner

It's Official: NY Fed President Bill Dudley To Retire Mid-2018

The New York Fed today confirmed a weekend report that president Bill Dudley intends to retire from his position in mid-2018 to ensure that a successor is in place well before the end of his term. Dudley’s term ends in January of 2019 when he reaches the 10 year policy-limit in the role.

Wall Street Journal Lashes Out At "Our Political Central Bankers"

Janet Yellen didn’t run for President, but you wouldn’t know it from her policy démarche Friday at the Federal Reserve’s annual Jackson Hole retreat. The Fed Chair unleashed a defense of post-crisis financial regulation that shows how political the world’s central bankers have become.

Treasury Will Run Out Of Cash In Mid-October, CBO Warns

CBO estimates that without an increase in the debt limit, the Treasury, by using all available extraordinary measures, would most likely be able to continue borrowing and have sufficient cash to make its usual payments  until early to mid-October of this year.

Economic Reality: Bottom 50% Of Americans No Longer Matter

Previously, the bottom third did not matter. Then the bottom 40% did not matter. Now the bottom 50% do not matter. Brexit was the first warning shot. Trump was the second. As soon as the bottom 65% don’t matter, those 65% may vote to take matters into their own hands.

World Stocks Hit All Time High, S&P Futures Rise To Within 1% Of Record

World stocks hit a new record high on Tuesday, with investors still cheering Macron's victory in the first round of the French presidential election, supported by speculation about U.S. tax reform and the overnight report that Trump has conceded on the border wall, eliminating a government shutdown as a potential risk.

Exit, Hope & Change - The Obama Post-Mortem

By now, anyone in this country still of sound mind knows that Barack Obama presided through eight years of remarkable continuity - of changeless conditions that left a great many hopeless. As the days of his tenure dwindle, what do we make of the departing 44th president?

This 65-Year-Old American Lost His Life's Savings For Failing To File A Form

By all accounts Bernhard Gubser was living the American Dream. Born in Switzerland he moved to the Land of the Free in the early 1980s to work at an international shipping company based in Laredo, Texas. Eventually Mr. Gubser worked his way up to be President of the company and began traveling around the world to expand the business. He became a naturalized citizen of the United States in the 1990s, something that would eventually cost him $1.35 million...

Trumpomania & Trumpopanic

The country’s social mood is apparently ripe and it finally seems actually possible for a perceived outsider to win by challenging the established order. Our main regret is that it wasn’t yet ripe at the time Ron Paul tried his hand at winning the nomination. Everything Trump is saying and doing should probably be seen in the context of his strategy. It’s quite Machiavellian actually. The alleged lack of discernible policy stances, the occasional contradictions and often hair-raising statements are all in pursuit of the same goal: to win the nomination. Other than that, we mainly enjoy the growing discomfort of assorted cronies and professional politicians.