“Fed Chair Jerome Powell’s November statement killed the idea that inflation would be transitory. The most recent projections from the FOMC show how deeply that idea has been buried.” ~ William J. Luther & Morgan Timmann
“Industrial output rose in February, led by solid gains outside of energy and motor vehicles. However, labor and logistics issues continue while turmoil surrounding the Russian invasion of Ukraine represents a new wave of potential disruptions.” ~ Robert Hughes
“In America today, a decentralization movement is growing, advocating greater local control. Continued erosion of public trust in federal agencies and government experts will hasten that movement.” ~ Barry Brownstein
“Housing permits were off in February but remain at a solid level. Rising home prices and higher mortgage rates are strengthening headwinds for demand while elevated commodity costs remain a challenge for homebuilder profits.” ~ Robert Hughes
“Freedom builds on mankind’s intense yearning for connection. The solution to our fragmented democracy will more likely emerge bottom-up from civil and market society, rather than top-down through politics.” ~ John O. McGinnis
“Weekly initial claims fell slightly and remain at a very low level, suggesting the labor market remains tight. However, the Russian invasion of Ukraine dramatically increases uncertainty.” ~ Robert Hughes
“Let’s bring on the capitalists who can promote value creation and who can champion the virtues of voluntary exchange, since this will allow for not only a rebound but a rebirth of the American economic system.” ~ Kimberlee Josephson
“He always encouraged and appreciated people who were, so to say, “classical liberal extremists” (including, a long time ago, the present writer). His favorite political philosopher was Anthony de Jasay, whose book The State he loved. That says something.” ~ Alberto Mingardi
“Retail sales rose in February but fell after adjusting for prices. Ongoing labor and materials shortages, turmoil from the Russian invasion of Ukraine, and an impending Fed tightening cycle all raise risks for the outlook.” ~ Robert Hughes
“Securities and derivative exchanges are woefully far from free markets, worst of all when unrestrained pricing is needed most. And once again, the increasingly distant tendrils of pandemic policies are disrupting the present order, two years on.” ~ Peter C. Earle
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