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Desmond Lachman

Desmond Lachman

USA TODAY

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The Federal Reserve Has A Big Choice To Make

So much for the soft economic landing.  The disappointing consumer price inflation numbers released on April 10 suggest that inflation will not come...

10.04.2024 6

The National Interest

Desmond Lachman

The Federal Reserve's High Interest Rates Could Morph Into a Crisis

When it comes to economics, there are few things about which we can be entirely sure. However, following today’s stronger-than-expected employment...

05.04.2024 5

The National Interest

Desmond Lachman

The economy looks good, but underlying weaknesses threaten to bring recession

There is an old Wall Street joke about a man who jumped off the Empire State Building; when asked at the 40th floor how he was doing, he replied,...

27.03.2024 10

New York Post

Desmond Lachman

The world’s drowning in debt — brace yourself for economic turbulence

As Harvard’s Kenneth Rogoff and Carmen Reinhart said in their book “This Time Is Different: Eight Centuries of Financial Folly,” unless...

22.02.2024 30

New York Post

Desmond Lachman

Is the Federal Reserve Fighting the Last War?

It is often said that generals tend to fight the last war. Something similar might be said of Jerome Powell’s Federal Reserve. At a time when both...

13.02.2024 4

The National Interest

Desmond Lachman

Booming Economy? Joe Biden Could Soon Face a Banking Crisis

This week, there has been some good and some bad news about our economy. The good news is that the economy continues to create jobs at a highly...

03.02.2024 5

The National Interest

Desmond Lachman

The Federal Reserve Keeps Making the Same Mistake

Mark Twain allegedly said, “History never repeats itself, but it often rhymes.” He might very well have been talking about today’s Federal...

31.01.2024 9

The National Interest

Desmond Lachman

Why a U.S. Recession in 2024 Could Still Happen

Wall Street traders are fond of saying that the consensus economic view is seldom proved correct. Today’s stronger-than-expected GDP numbers and...

25.01.2024 5

The National Interest

Desmond Lachman

Steel yourself — the stock market is irrationally exuberant again

The Dow closed Monday above 38,000 for the first time, and the S&P 500 had a record finish too.

23.01.2024 10

New York Post

Desmond Lachman

Is the Federal Reserve prepared for the coming deflationary shock from China?

Anyone doubting that China has pursued an unsustainable growth model need only look at its property and credit market bubble.

18.01.2024 8

New York Post

Desmond Lachman

The Federal Reserve’s Inflation Nightmare Won’t Go Away

When Henry Kissinger asked for his opinion about the influence of the French Revolution, Chinese premier Zhou Enlai purportedly replied that two...

11.01.2024 10

The National Interest

Desmond Lachman

With government debt topping $34 trillion, America is on a financial road to ruin

On Tuesday, the Treasury Department reported that the public debt has now topped $34 trillion.

06.01.2024 30

New York Post

Desmond Lachman

Don't Get Excited: The U.S. Economy Is In Bad Shape Below the Surface

There is an old Wall Street joke about a man who jumped off the Empire State Building. When asked how he was doing while passing the fortieth floor,...

05.01.2024 6

The National Interest

Desmond Lachman

2024: The Year the U.S. Economy Could Enter a Recession

Shortly after the 2008–2009 Great Economic Recession, an apocryphal story circulated about the captain of the Titanic. When asked in the...

26.12.2023 6

The National Interest

Desmond Lachman

The Federal Reserve Has a Money Supply Problem

There was some good news and some bad news coming out of yesterday’s Federal Reserve interest rate-setting policy meeting. The good news is that the...

14.12.2023 7

The National Interest

Desmond Lachman

The Federal Reserve’s Money Supply Problem

If the past is any guide, when the Federal Reserve meets next week, of one thing we can be sure. The Fed will continue to adhere to a strictly...

06.12.2023 3

The National Interest

Desmond Lachman

The Federal Reserve's War on Inflation Could Spark a 'Hard Landing'

In 2008, the Federal Reserve was caught flatfooted by the sub-prime loan crisis and housing bust that triggered the 2008–2009 Great Economic...

27.11.2023 5

The National Interest

Desmond Lachman

The Federal Reserve Ignores the Money Supply at its Peril

Milton Friedman must be rolling in his grave at the thought of how his basic monetary policy teachings have fallen out of favor. Federal Reserve Chair...

15.11.2023 2

The National Interest

Desmond Lachman

The Federal Reserve's Interest Rate Hikes Are Now Done

There is some good news and some bad news about today’s weaker-than-expected jobs report number. The good news is that the Federal Reserve is...

03.11.2023 6

The National Interest

Desmond Lachman

The Federal Reserve Could Start a Financial Crisis

Rudi Dornbusch, the late MIT economist, said of the Mexican central bank that he could understand it making mistakes. After all, its board was...

02.11.2023 2

The National Interest

Desmond Lachman

The Fed Learns Little From Its Past Mistakes

Rudi Dornbusch, the late MIT economist, said of the Mexican central bank that he could understand it making mistakes. After all, its board was...

02.11.2023 2

The National Interest

Desmond Lachman

The Federal Reserve Could Tank the U.S. Economy

John Maynard Keynes famously said that “when the facts change, I change my mind. What do you do sir?”. Since the Federal Reserve’s last policy...

31.10.2023 5

The National Interest

Desmond Lachman

2024: The Year America Has a Full-Blown Financial Crisis?

A credit cycle is a normal process in a market economy. However, today’s U.S. credit cycle is anything but normal. Not only was its easy phase...

26.10.2023 2

The National Interest

Desmond Lachman

Congress must get its act together and prevent a government shutdown — or recession is on its way

It’s never a good time for the US economy to be hit by a government shutdown. But now would be particularly inopportune — and a shutdown is...

24.10.2023 4

New York Post

Desmond Lachman

The Federal Reserve is Asleep at the Wheel

Among the more egregious weaknesses of Chairman Jerome Powell’s Federal Reserve is its failure to react to changing circumstances. Last year, that...

23.10.2023 2

The National Interest

Desmond Lachman

The IMF’s Surveillance Failure

One of the key tasks of the International Monetary Fund (IMF) is to monitor member countries’ economic and financial policies and provide them with...

19.10.2023 1

The National Interest

Desmond Lachman

Italy Could Be Headed Toward Another Debt Crisis

When it comes to gauging the Italian economic outlook, we would do well to remember Herb Stein’s famous aphorism: If something cannot go on forever,...

13.10.2023 3

The National Interest

Desmond Lachman

The U.S. Economy Is Headed for a 'Hard Landing'

John Maynard Keynes famously wrote that “when the facts change, I change my mind. What do you do, sir?’. Now that the economic facts are rapidly...

06.10.2023 2

The National Interest

Desmond Lachman

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