On January 6, 2021, Congress will meet in joint session to count the Electoral College votes in the 2020 presidential election, won by Joe Biden, 306-232, over Donald Trump. This is usually a pro forma event, little noticed except by the most devoted followers of political pageantry. However, given the drama that has ensued since Read more
Government
New Route: The Fed Rides to the Rescue with Unconventional Monetary Policy
In the eight months since the global COVID-19 pandemic hit the United States and its economy, the Federal Reserve has reached far beyond its playbook from the 2007-09 Great Recession, using unconventional monetary policy while growing its balance sheet from roughly $4 trillion to $7 trillion through emergency lending programs and moves to bolster the Read more
What Happens Next? Election Reactions and Market Reflections
The 2020 election polls illustrated that predicting what will happen in American politics with any confidence is becoming ever more difficult. Though the general prediction of a presidential victory for Joe Biden was correct, polling at a more granular measurement level seems accurate only in as much as the pollsters sampled the intent of those Read more
Cliffhanger: What Will the Fed Do? What Is the Fed, Anyway?
Will they, or won’t they? June unemployment numbers looked better and fears of an imminent economic downturn are easing, seeming to dampen expectations that the Federal Reserve will cut interest rates at the next meeting, which will be on July 30 and 31. The Fed leadership says a healthy economy does not need the stimulus Read more
Closed Doors: How Does the Shutdown Affect Investors?
As the partial government shutdown stretches on with no imminent resolution in sight, the political battle between President Trump and congressional Democrats over southern-border wall funding (and the norms of legislating) has taken the spotlight, as has the plight of the 800,000 federal workers most directly affected. But beneath the wrangling and rhetoric of political Read more
Sharp Lines: What the Midterms Could Mean
The most momentous midterm elections many of us have ever experienced are (almost) over (at press time, several races were still too close to call). It’s never easy to say exactly what it all means so soon after the results are in, and these politically fraught times make it even less so. Still, it’s possible Read more