Whether or not President-elect Donald Trump has a mandate to pursue the huge changes he aspires to make is a matter of debate. He won impressively from an electoral standpoint, but the popular vote looks razor-close. What is practically inarguable is the fact that the...

  Janet Yellen's first Federal Open Market Committee policy statement as Fed chair caused a bit of a ruckus in both the Treasury and stock markets. As experts have pointed out, it wasn't so much what she said, but rather what the "dots" portend for future interest rate hikes. There was no surprise when the Fed announced they would continue to reduce their monthly purchases of Treasuries by $10 billion per month to a still very large $55 billion starting in April. The sell-off of short and intermediate Treasuries was triggered, according to Barrons by a chart of projections showing FOMC members' expectations of where the fed funds rate would be at the end of 2015.

About this time each summer it's fun to take a break from the humdrum of economics and investment practices to slow down and remember a simpler time. Travel with me to a place that no longer exists and perhaps never will again, except in the memories of a blessed few. The wonderful thing about growing up at Cape Lookout was

Recovery remains firmly on track as revealed by the government’s first of three estimates on the growth of US Gross Domestic Product for the first quarter of this year. While a little below expectations, the 3.2% gain is solid and continues on the heels of a 5.6% pace set in the fourth quarter. The six months together comprise the strongest advance since 2003.