Factories Are Humming Again

December 20, 2013 Recent data indicate strongly that the manufacturing sector has returned to life.  Orders are at a three year high.  As orders climb factory owners need to boost production.  And because inventories have been very low in relation to sales, production...

The Fed Tries to Clarify Policy

December 21, 2012 Federal Reserve officials want us to understand their thought process.  To that end they recently changed their description of the events that will ultimately cause them to raise interest rates.  Unfortunately, that is a process that is almost...