Rearview Mirror | May 10, 2023
The Federal Reserve (“Fed”) has a dual mandate for maximum employment and price stability. It seeks to achieve these goals through monetary policy by controlling short-term interest rates and money …
What’s New | January 30, 2023
COVID and its economic dislocations, government policy responses, and their after-effects continue to materially alter the global landscape. While Lyell Wealth Management sees some pre-existing investment themes as enduring, such …
2022 Snapshots | September 16, 2022
Lyell Wealth Management invests substantial resources in proprietary research in order to distinguish real economic and market data from the narratives pushed by the sensationalist financial media. We periodically publish …
Panic at the Fed? | June 24, 2022
We are now eight months into the Federal Reserve’s most aggressive financial tightening campaign in decades. While the first policy hikes took place in March 2022, financial markets have been …
Whip Inflation Now? | February 1, 2022
In 1974, President Gerald Ford responded to an inflation crisis by asking the American people to “grow more food, waste less, drive less, and heat less” to get prices under …
Living With Covid | September 20, 2021
The global economy and markets navigated a rocky summer of accelerated Covid-19 infections despite widespread vaccinations in much of the developed world. The re-opening has been more modest than anticipated …
Re-Opening | May 14, 2021
The successful vaccine rollout has enabled a gradual re-opening across the United States and other parts of the developed world. A combination of money growth, wealth effect, robust earnings and …
2021 Snapshots | January 10, 2021
The global economy had a massive shock in early 2020 when the Covid pandemic erupted and shutdowns ensued. Despite a big rebound, U.S. real GDP was still 3.4% below its …