I don't have a daily post for you today. So, in lieu of a daily, I wanted to make some more general comments about interest rates that I have been making in my market commentary pieces.
The accelerated hike timetable
In February, I wrote a post saying, "The march higher in US interest rates will continue". And the thrust of that piece was that the market meltdown we were seeing then was an outgrowth of the market's coming to terms with a more hawkish Fed. Powell was prepared to raise interest rates more aggressively than Yellen had done - and not necessarily because he was more hawkish. We were simply at a later stage in the economy and the pace of rate hikes increases as a result. Yellen might have done the same, had she been given another term by Trump.
I add the comment about Yellen be...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.