Happy Thanksgiving

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I have taken an unintended break from blog writing over the past few weeks. It certainly has not been for lack of subject matter. Stocks are hitting new highs; fixed income yields have risen sharply since the historic lows in mid-2012; the Fed keeps pumping massive amounts of money into the system; Janet Yellen is about to take Ben Bernanke’s chair; domestic economic growth remains the slowest in any post-recession recovery on record; Europe is still struggling to emerge from its multi-year recession; inflation rates are receding except in emerging countries, where they have risen far enough to create some concern.

A combination of travel, the regular workload and the enjoyable opportunity to lecture on investments and the Fed in a couple of classes at the University of Arizona have prevented me from putting in the needed time to produce a blog entry. With travel again filling next week, it’s not likely that I will post anything then. I hope to be back to a somewhat regular schedule in December. In the meantime, I hope all of you will enjoy Thanksgiving with loved ones.