โข
The Fed can lower the funds rate, but only Congress can rein in the spending that keeps long-term yields โ and mortgage rates โ stubbornly high.
Javier Milei has slashed inflation and deregulated markets โ but entrenched interests and old powers are fighting back.
The lesson from around the world is clear: countries that politicize their central banks pay a steep price.
โข
Buyers are sidelined by high prices, while owners cling to historically cheap loans and high equity. The freeze is reshaping labor markets and family formation.
Argentinaโs vast potential is shackled by its Perรณnist past. The path to a thriving market economy demands relentless action across society, from the grassroots level to the Casa Rosada.
โข
The Fed’s scheme to offer credit to states and municipalities was fiscal policy in disguise, turning local mismanagement into a national problem.
Inflation has exceeded the Fedโs two-percent target for 54 consecutive months, with prices up 25 percent since March 2020.
โข
From Eccles to Greenspan to Yellen, history suggests politically seasoned Fed officials are the rule rather than the exception.
โข
Inflation is rising compared to its year-over-year pace, nudged along by tariff effects. But Fed officials are expected to cut rates next week, anyway.
โข
Sticky service costs, moderating but still-present tariff effects, and a softening labor market combine to put pressure on the Fed.
โข
The Fed can lower the funds rate, but only Congress can rein in the spending that keeps long-term yields โ and mortgage rates โ stubbornly high.
Javier Milei has slashed inflation and deregulated markets โ but entrenched interests and old powers are fighting back.
The lesson from around the world is clear: countries that politicize their central banks pay a steep price.
โข
Buyers are sidelined by high prices, while owners cling to historically cheap loans and high equity. The freeze is reshaping labor markets and family formation.
Argentinaโs vast potential is shackled by its Perรณnist past. The path to a thriving market economy demands relentless action across society, from the grassroots level to the Casa Rosada.
โข
The Fed’s scheme to offer credit to states and municipalities was fiscal policy in disguise, turning local mismanagement into a national problem.
Inflation has exceeded the Fedโs two-percent target for 54 consecutive months, with prices up 25 percent since March 2020.
โข
From Eccles to Greenspan to Yellen, history suggests politically seasoned Fed officials are the rule rather than the exception.
โข
Inflation is rising compared to its year-over-year pace, nudged along by tariff effects. But Fed officials are expected to cut rates next week, anyway.
โข
Sticky service costs, moderating but still-present tariff effects, and a softening labor market combine to put pressure on the Fed.
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