Authored by John Mauldin via MauldinEconomics.com,
“The job of the central bank is to worry.”
– Alice Rivlin
“The central bank needs to be able to make policy without short-term political concerns.”
– Ben Bernanke
“… from the standpoint of the overall economy, my bottom line is we’re watching it closely but it appears to be contained.
– Ben Bernanke, repeatedly, in 2007
Authored by Madelyn Harwood via IllinoisPolicy.org,
Illinois loses more millennial taxpayers and dependents to other states than any state except New York; this means Illinois’ distressed housing market is losing a big contingent of first-time homebuyers.
On Sunday, Roger Federer did what many in recent years said was impossible, when he won his record, 8th Wimbledon title, defeating Croatia's Cilic in straight sets.
Via Global Macro Monitor,
Since the Fed began raising interest rates in December 2015, financial market liquidity conditions have loosened considerably. Recall our post, Orwellian Monetary Policy, which we wrote in May.
“Tightening is Easing”
With both the S&P, and global stock markets, closing last week at new all time highs, it is safe to say that any and all warnings about "froth", and perhaps a bubble in the market, as Deutsche Bank characterized it last week have been ignored. And yet, as Goldman's economist team writes over the weekend, the recent rise in warnings about "risk levels" and asset prices by Fed officials is concerning: "Fed officials have expressed greater concern about asset prices and financial stability risk recently, a change from their more relaxed view last fall.