On Friday, the New York Fed put some meat on the bone by detailing that the program will buy $60 billion per month of Treasury Bills.

For Donald Trump, it seems that these are the best of times except that they are the worst of times.

After years of delays, a tentative start, many cautious pauses along the way, and a top speed that never really hit cruising velocity, the Fed has taken the first available off-ramp on the road towards policy "normalization."

The recent economic growth in the U.S. may have simply been a function of debt creation.

They say that there are no atheists in fox holes. Recently it has also become clear there are no monetary hawks in bear markets.

In light of the 30th anniversary of the Black Monday Crash in '87 we should be reminded that investor anxiety usually increases when markets get to extremes.

Of all the absurd Washington pantomimes none has been as reliably entertaining and maddening as the annual debates to raise the debt ceiling.

On August 21st many Americans witnessed the moon cast a historic but short-lived shadow across the United States. One day later, President Trump reversed his previously stated position on the 16 year old Afghan War, thereby eclipsing the possibility that the United States would finally come to its senses and rethink a failed strategy that is likely to fail for years, perhaps decades, to come.

Typically, U.S. Presidents are wary of claiming stock market performance as a referendum on their success.

Given the media's obsession with some of the President Trump's communication challenges, it was utterly predictable that the President's declaration that his trip to Europe and the Middle East should be considered a "home run" was met almost universally with ridicule.

While I have rarely met a tax cut I didn't like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

Trump has built his companies with debt and I'm sure he thinks he can do the same with the country.