Inflation, Interest Rates, and Janet Yellen Andrew Stuttaford
Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: Yellen says something (and then unsays it), Joe Biden, Peronist, Biden and Brussels against Ireland, and Richard Nixon and Arthur Burns. To sign up for the Capital Note, follow this link.
Yellen’ Fire No, that’s not what really what Treasury secretary Yellen did on Tuesday, but sometimes the lure of a bad pun is too hard to resist.
CNBC had a more sober assessment:
Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on in part by trillions of dollars in government stimulus spending.
The Capital Note -- Big Tech, Big Government, and the Chamber of Progress
nationalreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalreview.com Daily Mail and Mail on Sunday newspapers.
The logo of Nvidia Corporation during the annual Computex computer exhibition in Taipei, Taiwan, May 30, 2017
(Tyrone Siu/Reuters)
Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: the U.K. announces a national-security review of Arms Holdings acquisition, Taiwan’s exports balloon thanks to semiconductor shortage, a hedge-fund behemoth warns of a SPAC bubble, and Biden’s $50 billion semiconductor subsidy. To sign up for the Capital Note, follow this link.
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Arms Sales
The ongoing semiconductor shortage has put the strategic importance of computer chips front and center in international politics. The Biden administration allocated $50 billion of its infrastructure proposal to domestic chip manufacturing, shortly after Intel announced plans to build two new fabricating plants in Arizona. Meanwhile, China has spent the past year beefing up its manufacturing capabilities after the U.S. placed export co
Print this article European Central Bank President Christine Lagarde addresses an event to launch the private finance agenda of the 2020 United Nations Climate Change Conference in London, England, February 27, 2020.
(Tolga Akmen/Pool via Reuters)
I felt spoiled for choice when it came to a topic with which to preface this week’s Capital Letter. Dogecoin went quite a long way toward the moon, the U.N.’s secretary-general has pushed for a “solidarity” or wealth tax, and digging further into the details of the administration’s planned new corporate-tax regime produced yet more nasty surprises.
That said, I think that it’s worth continuing to watch how the regulatory state continues to push ahead with its climate agenda in a way that bypasses the normal democratic process and is still not subject to enough scrutiny.
Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: Coinbase’s crypto correlation, another tech IPO, consumer borrowing stalls, and a look back at the Bitcoin white paper. To sign up for the Capital Note, follow this link. Coinbase: A Bet on Crypto? The basic value proposition of Bitcoin and similar digital currencies is: They are not controlled by a centralized, trusted authority, so crypto transactions are immutable and open to anyone. They can’t be devalued by a central bank or some other government entity. Which is awkward for Coinbase, a centralized corporation that listed on the Nasdaq yesterday with the blessing of the Securities and Exchange Commission. The exchange’s $60-some billion valuation is a result of a fantastically profitable exercise in centralizing decentralized assets. Coinbase makes money because its users trust it to buy and store their Bitcoin in the same way that a depositor trusts Chase to h
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