One thing I can tell you for certain about last week's big rally on Thursday and Friday: there were a lot of people who desperately wanted a good excuse to buy stocks. And buy they did after a better-than-expected CPI report Thursday morning, pushing the S&P 500 up nearly 6% on the week with all of that coming on Thursday [...]
Everybody is talking about the yield curve today. How good are they at indicating a coming recession and what influences them? Steve Brennan talks about it with Alhambra CEO Joe Calhoun.
Is the Fed punishing the middle class? Steve Brennan talks to Alhambra CEO Joe Calhoun about the Fed’s focus on killing jobs and stopping wage increases in an attempt to slow inflation. Has the Fed gone too far, too fast?
It’s a myth that an aging population is deflationary. Steve Brennan and Alhambra CEO Joe Calhoun look at where the myth came from and the difference between its beginnings and what’s going on today in the United States.
Jerome Powell has said repeatedly that the Fed's goal is to get rates higher and leave them there for an extended period of time. He believes that the mistake of the 70s was that once higher rates snuffed out inflation, the Fed cut rates too quickly and the inflation returned. I think the mistake of the 70s was that, by [...]
Alhambra CEO Joe Calhoun has an opinion on why the market was on a roller coaster after the Fed statement last week; There’s more than one way to calculate the 10/3 yield curve, and don’t put all you hope on a single market indicator.
The FOMC met last week and did what everyone expected them to do - raised the Fed Funds rate by 0.75%. The bond and stock markets reacted not to this action but to the commentary provided by the committee in its statement and by Chairman Jerome Powell at his post meeting press conference. The former had a new phrase, a [...]
Demographic trends are changing the economic landscape in the United States. The older population is growing rapidly while the working population is shrinking. The labor shortage is also adding to the problem. Steve Brennan and Alhambra CEO Joe Calhoun break it down.
This is the time of year when lots of folks have visions of warming their feet by the fire while the cold wind whistles outside. But with the highest mortgage rates in more than four decades, many people are getting cold feet about a cozy place of their own. The 30-year mortgage rate broke through 7% in October and that [...]
Alhambra CEO Joe Calhoun explains why he's a rational optimist about current market conditions and the economy, what he expects from the solid inversion of the 10/3 yield curve, and what he expects from this week's Fed meeting.
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