26 Sep 2022

Fed Indirectly Signals Recession

When the Federal Reserve raised interest rates last week, they also published their Summary of Economic Projections, which you can find here. You won’t find the word ‘recession’ in the document, but there is a pretty strong signal that the Fed thinks a recession is on the horizon in 2022. The second page includes a nice table that shows what the Federal Reserve Board members and presidents estimate for economic… Read More

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19 Sep 2022

Core Inflation Knocks Market

Stocks sold off sharply this week, as noted above, mostly because markets had anticipated good news on the inflation front and didn’t get it. When I first saw the release, I thought it looked pretty good because the headline rate of inflation was only a tenth of one percent for the month, which brought the rolling one-year rate down to 7.8 percent.  While 7.8 percent is still far too high,… Read More

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12 Sep 2022

It’s Good to be the Queen or King, Financially Speaking

I don’t have any real reason to be sad about Queen Elizabeth’s passing, but I felt a little down about it anyway. I’m a little embarrassed to say that I think I just loved the performances of Claire Foy and Oliva Colman in the Crown and Helen Mirren in The Queen, even if the portrayals could be tough. In any case, I read several articles from our press, but I… Read More

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6 Sep 2022

Happy Anniversary – Acropolis Turns 20!

On August 27th, Acropolis turned 20 years old. We’re not great about celebrating that kind of thing, so it took an email from Bob Schramm to even raise the subject. I’m embarrassed to say that I knew it was at the end of August but thought it was either the 26th or 28th (and being right ‘on average’ doesn’t work with dates). In some ways, it feels like just the other day. I vividly… Read More

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