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Here’s a graph the Keynesians, statists, and Wall Street gamblers—yes, we repeat ourselves—would prefer not to explain. At the same time, it also explains why socialism at this late date in history—and after all its abysmal failures the world over—is having s…

At Wednesday's FOMC press conference, Chair Warsh made it clear that the Fed's number one goal is returning inflation to its 2% target. The reaction in the long end of the bond market was one of disbelief. The 2-year yield fell roughly 4 basis points to 4.24%…

Despite the market assigning a moderate 35% chance of a rate hike at yesterday's FOMC meeting, the Fed left rates unchanged. However, three dissenting voters (Hammack, Kashkari, and Logan) wanted a rate hike. The Fed Funds futures market is now pricing in nea…

Hilton Inc (NYSE:HLT) shares fell more than 2% in pre-market trading on Tuesday after the hotel operator delivered second-quarter results broadly in line wit...