background swath

NISA News

MarketWatch Quotes NISA Chief Economist Stephen Douglass

hold and hope caucus ()

NISA Chief Economist Stephen Douglass was quoted in MarketWatch ahead of Fed Chairman Kevin Warsh’s Jackson Hole economic policy meeting held today.

Stephen said the majority of Fed officials would rather “hold and hope” that the Iran war ends soon instead of raising interest rates. Stephen was quoted as saying:

“I think [Fed Chair Kevin] Warsh is the founding member of the hold-and-hope caucus, which is to say he doesn’t want to hike rates this year.”

Stephen believes the Fed officials who support rate hikes are doing most of the talking, while those in favor of holding interest rates steady are in the majority and are remaining quiet. This is making the Fed seem more evenly divided than it truly is.

“I don’t think that it’s really that close of a vote right now,” Stephen was quoted saying.

With a MarketWatch subscription:

  • Read more of Stephen’s response here.
  • Read the full live-update article here.

Back to NISA News

Disclosure Information

By accepting this material, you acknowledge, understand and accept the following:

This material has been prepared by NISA Investment Advisors, LLC (“NISA”). This material is subject to change without notice. This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. This information is provided with the understanding that with respect to the material provided herein (i) NISA is not acting in a fiduciary or advisory capacity under any contract with you, or any applicable law or regulation, (ii) that you will make your own independent decision with respect to any course of action in connection herewith, as to whether such course of action is appropriate or proper based on your own judgment and your specific circumstances and objectives, (iii) that you are capable of understanding and assessing the merits of a course of action and evaluating investment risks independently, and (iv) to the extent you are acting with respect to an ERISA plan, you are deemed to represent to NISA that you qualify and shall be treated as an independent fiduciary for purposes of applicable regulation. NISA does not purport to and does not, in any fashion, provide tax, accounting, actuarial, recordkeeping, legal, broker/dealer or any related services. You should consult your advisors with respect to these areas and the material presented herein. You may not rely on the material contained herein. NISA shall not have any liability for any damages of any kind whatsoever relating to this material. No part of this document may be reproduced in any manner, in whole or in part, without the written permission of NISA except for your internal use. This material is being provided to you at no cost and any fees paid by you to NISA are solely for the provision of investment management services pursuant to a written agreement. All of the foregoing statements apply regardless of (i) whether you now currently or may in the future become a client of NISA and (ii) the terms contained in any applicable investment management agreement or similar contract between you and NISA.