The Kansas City Fed published a worthwhile research note on March 31. Hat tip to Torsten Slok for calling it out.
We recommend a quick perusal and scanning of the charts. It will help readers understand the difficulty facing the Federal Reserve as it tries to stay focused on the 2% inflation target. The paper explains why time lags in monetary policy for service sector labor costs are still “long and variable.“
“Why Has Monetary Policy Tightening Not Cooled the Labor Market Enough to Quell Inflation?” https://www.kansascityfed.org/Economic%20Bulletin/documents/9438/EconomicBulletin23DiltsStedmanPollard0331.pdf
Note that as this is written, our US Equity ETF portfolio still has some cash reserves. I do not expect the Fed to be cutting rates in July or August even though many market pundits are forecasting that event.
Healthcare and Aerospace-Defense sectors remain overweighted positions.
David R. Kotok
Chairman & Chief Investment Officer
Email | Bio
Speakers will explore cryptocurrency in depth through two days of keynotes and panel discussions along with other topics that intersect with digital money including banking, investments, exposure risk, and global trade (see below).
Keynote remarks will be delivered by Christopher J. Waller, P.h.D., Member of the Board of Governors of the Federal Reserve System (Thursday), Kevin Rudd, P.h.D., Australia’s Ambassador to the United States of America (Friday), and Herbert J. “Hawk” Carlisle, Commander, Air Combat Command, Langley Air Force Base, Virginia (Friday).
Topics:
- Cryptocurrency in Investments, Financial Markets, and Regulations
- Cryptocurrency Outside the U.S.
- Fiat Currencies during the last year and in response to the Russian invasion
- FTX Aftermath and Bankruptcy Laws
- Panel Discussion about China’s Economics
- Special Report: Geopolitical View – Focus on China
- Special Report: China, Russia, and Ukraine: Critical Minerals and Global Supply Chains
Keynotes:
- Cryptocurrency and Central Banks
- Military National Security
- Outlook on Asia, Global Risk, and Policy
University of South Florida Sarasota-Manatee
Address: Selby Auditorium, 8350 N Tamiami Trail, Sarasota, FL 34243
Thursday, April 20, 2023 - 8:00 a.m. - 12:30 p.m.
Friday, April 21, 2023 - 8:00 a.m. - 12:30 p.m.
Agenda & Speaker Detail Here:
Cryptocurrency & the Future of Global Finance
https://www.interdependence.org/events/cryptocurrency-and-the-future-of-global-finance/
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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.
