The Institutional Risk Analyst

In 2019, the FOMC essentially nationalized the US money markets, eliminating private price discovery for a representation of a market.

We look for modest rate cuts in 2025, followed by an equally modest boom in mortgage lending

During our fishing trip to Leen's Lodge last week, there was a lot of discussion about the markets and whether the Fed is going to successfully manage the return to normalcy. Our bet on that question is “no” as we noted in a missive yesterday by Jeff Cox of CNBC: “The Fed's effort to control the rise of its key interest rate is running into some problems.”