Third Quarter GDP Shows Continued Growth

The US economy continued to grow at a slow but steady pace in the Third Quarter of 2015.  Coming in at 2%, GDP slightly beat forecasts of 1.9% growth.  This matches our firm’s internal forecast by Dr. Lewis Spellman, Macro-economist.  “This continues to be a muddle through economy, with domestic strength slowed by weak economies overseas, especially…

Fed Chair Janet Yellen Has A Serious Communications Problem

‘You don’t tell the markets anything. You just implement policy — slowly and smoothly.” That was the communication policy of late Fed Chairman William McChesney Martin (1906-1998), as recalled by finance professor Lewis Spellman of the University of Texas at Austin. Spellman, who worked at the Fed during the Johnson administration, remembers Martin vividly and…