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The Fed and the economy

2 years 1 month ago
You all know that I'm a bug about the delayed effects of Fed interest rate hikes. Here's a simple chart that shows why: Fed interest rate hikes don't directly affect inflation. They produce higher long-term rates which in turn slow down the economy. That's what reduces inflation. Long-term rates have indeed gone up since the ...continue reading "The Fed and the economy"
Kevin Drum

Is Donald Trump in default on 40 Wall Street?

2 years 1 month ago
Here's an odd thing: The Trump Organization has defaulted on its CMBS loan on its 40 Wall St building - transferred to special servicer #MacroEdgeCMBS pic.twitter.com/wKgO7gGmwl — MacroEdge (@MacroEdgeRes) November 10, 2023 Trump's 40 Wall Street property has been on watchlist for a while thanks to high costs and vacancy rates, but as near as ...continue reading "Is Donald Trump in default on 40 Wall Street?"
Kevin Drum