Authored by Mike Shedlock via MishTalk.com,
The Phillips Curve, an economic model developed by A. W. Phillips purports that inflation and unemployment have a stable and inverse relationship.
This has been a fundamental guiding economic theory used by the Fed for decades to set interest rates.
A new Fed Study shows the Phillips Curve Doesn’t Work.
Authored by Craig Wilson via The Daily Reckoning,
Nomi Prins joined Sprott Money News for its Ask the Expert segment that covered the Federal Reserve system, Glass-Steagall reform and even the recent activity from the U.S Treasury.
Nomi Prins is a former Wall Street insider where she worked as a Managing Director at Goldman Sachs among other major financial outlets. She is also a best-selling author who wrote All the Presidents’ Bankers, a book that examines the hidden alliances between Wall Street and Washington.
Trump’s Big Decision: Why Not Danielle DiMartino Booth For A Fed Post?
Written by Peter Diekmeyer, Sprott Money News
Lead photo by Rose Baca of the Dallas Morning News.
US President Donald Trump’s decision about who will replace Janet Yellen when her Federal Reserve chairmanship expires in February will be the biggest of his Presidency.
Via Snake Hole Lounge blog,
The US Statutory Debt Limit, a failed tool to halt the endless growth of Federal debt issuance, is once again in play at nearly $20 trillion. It was only at $6 trillion in 2002.
The problem, of course, is runaway Fed spending which is currently at around twice that of Federal current tax receipts, requiring that the deficit be funded by issuing Federal debt (or raising taxes and/or cutting Federal spending).
Via Global Macro Monitor,
We have posted several pieces over this year noting the high correlation of gold and 10-year bond futures. See here, here and here.