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Housing Boom to Continue
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist April 12th, 2021 Housing prices have soared in the past year. The national Case-Shiller index is up 11.2% in the past twelve months, the largest gain since 2005-06. The FHFA index is up 12.0% in the past twelve […]
Jobs Are Booming
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist April 5th, 2021 When the scientists said “15 days to slow the spread,” some of us actually believed that by Easter the shutdowns would end. That was last year. Now, a full year, and $5 trillion in government […]
Tax Hikes Are Coming
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist March 29th, 2021 The federal budget deficit hit an all-time record high of $3.1 trillion last year. With the passage of the recent blowout “stimulus” bill, it’s set to be even higher in 2021. Now we watch and […]
The Fed, Regulation, and MMT – Irresponsible
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist March 22nd, 2021 You’ve got to hand it to the Federal Reserve. With the cleverness of a seasoned head coach – think Jim Boeheim leading Syracuse in the NCAA basketball tournament – they figured out how to accomplish […]
Inflation and The Fed
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist March 16th, 2021 We believe inflation is still, and always will be, a monetary phenomenon. It is defined as “too much money chasing too few goods and services” – but that doesn’t mean every period of higher inflation […]
The Fed Can’t Fix COVID Lockdowns
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist March 8th, 2021 The Full Employment and Balanced Growth Act of 1978 gave the Fed a “dual mandate” – to promote maximum sustainable employment and stable prices. Over the years, the meaning of these two mandates has changed. […]
Powell Disses Uncle Milty
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist March 1st, 2021 Those of us who are concerned about inflation increasing faster than the Federal Reserve anticipates are focusing on the rapid increase in the M2 measure of the money supply. This measure has soared since COVID-19 […]
Overstimulation on the Way
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist Feb 22nd, 2021 Things are looking up for the US economy. Later this week we’ll get an update on real GDP growth for the 4th quarter of 2020. We estimate that’ll be revised up to a 4.3% annual […]
It’s Not a Bubble
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist Feb 17th, 2021 Ever since the stock market bottomed in 2009 during the financial crisis, people have been coming up with reasons why the bull market was about to end. We heard every reason – Brexit, the end […]
The Return of Inflation
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist Feb 8th, 2021 Inflation is not dead. It is not gone. It has not been tamed. We know it seems like it, especially after the past few decades which generated in many an “inflation-complacency” that feels justified. After […]
