The Federal Reserve concluded its January meeting by deciding to keep the fed funds rate unchanged. There have been times in the last couple of months where the market put a 60% – 70% probability of a January rate cut. DKI has insisted all along that while we’ve hit the terminal rate (the highest fed … Read more
The first estimate of 4Q GDP came out this morning. Growth of 3.3% was well above expectations of 2%. As usual, we’ll go through a couple of adjustments. DKI adjusts for change in private inventories because it reflects inventory stocking or de-stocking as opposed to actual economic activity. 4Q inventory additions were only .07% which … Read more
While Americans are focused on our own coming (and just passed) elections, Argentina had a monumental event. Using national ID and paper ballots, they were able to get votes counted the same night and found that a small-government capitalist in favor of sound money had won a huge and shocking victory. Here in the US, … Read more
