Financier and lawyer Kevin Warsh was confirmed as chair of the Federal Reserve by the U.S. Senate on May 13 and officially took his position on May 15. The Fed’s dual mandate from Congress is promoting maximum employment and stable prices (i.e., controlling inflation). Warsh’s first meeting of the Federal Open Market Committee (FOMC), the Read more
Bowen Reports
The Real Price of Oil? It Depends
The severe physical shortage in oil markets and uncertainty over what might happen next in the Iran War has caused disruption over oil futures, with the price of a physical barrel of oil being significantly higher than suggested prices in financial markets. The disconnect is especially stark for Brent, the international benchmark. Dated Brent, which Read more
The Petrodollar Loop
Petrodollars, simply defined, are oil revenues denominated in U.S. dollars. The petrodollar loop is essentially the global practice of pricing oil exclusively in U.S. dollars rather than any other currency and having those dollars recycled into U.S. assets. So, no matter what country is buying oil, they pay the oil-producing country in petrodollars denominated in Read more
Economic Outlook: Fallout from the Iran War
Markets continue to react to minute-by-minute developments regarding the ongoing U.S./Israeli war with Iran, which has effectively closed the Strait of Hormuz, narrow, strategic waterway in the Persian Gulf through which roughly 20% of the world’s oil and liquid natural gas pass, as well as affecting the global supply of helium, fertilizer, and aluminum. The Read more
What You Need to Know When Filing Your Taxes
Tax Day, when you are required to file your return and pay the government, comes around every April 15 whether we want it to or not. Tax Day this year is on Wednesday, April 15, 2026, for most 2025 returns, but if you’re not ready to file by that deadline, you can request an extension Read more
Fasten Your Seatbelt: Ways to Invest in Volatile Markets
Most investors will encounter a rocky market at some point in the stock and bond market. But if you have a long-term strategy in place, you can stick with your plan when it gets rough and avoid making potentially costly moves out of panic. Historically, U.S. stocks have seen three downturns of 5% each year, Read more