The abrupt and sharp decline in equity prices in recent weeks has been largely pinned on the Federal Reserve as policymakers continue to move forward with their plan to raise official rates. Yet, the sell-off in the equity market is [...]
Introducing
Joseph G. Carson
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Joseph G. Carson, Former Director of Global Economic Research, Alliance Bernstein. Joseph G. Carson joined Alliance Bernstein in 2001. He oversaw the Economic Analysis team for Alliance Bernstein Fixed Income and has primary responsibility for the economic and interest-rate analysis of the US. Previously, Carson was chief economist of the Americas for UBS Warburg, where he was primarily responsible for forecasting the US economy and interest rates. From 1996 to 1999, he was chief US economist at Deutsche Bank. While there, Carson was named to the Institutional Investor All-Star Team for Fixed Income and ranked as one of Best Analysts and Economists by The Global Investor Fixed Income Survey. He began his professional career in 1977 as a staff economist for the chief economist’s office in the US Department of Commerce, where he was designated the department’s representative at the Council on Wage and Price Stability during President Carter’s voluntary wage and price guidelines program. In 1979, Carson joined General Motors as an analyst. He held a variety of roles at GM, including chief forecaster for North America and chief analyst in charge of production recommendations for the Truck Group. From 1981 to 1986, Carson served as vice president and senior economist for the Capital Markets Economics Group at Merrill Lynch. In 1986, he joined Chemical Bank; he later became its chief economist. From 1992 to 1996, Carson served as chief economist at Dean Witter, where he sat on the investment-policy and stock-selection committees. He received his BA and MA from Youngstown State University and did his PhD coursework at George Washington University. Honorary Doctorate Degree, Business Administration Youngstown State University 2016. Location: New York.
Publications by Joseph G. Carson
Global| Oct 26 2018Equity Market Selloff Resembles Liquidity Squeeze of 2000
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- Global| Oct 15 2018
Financial Stability Needs Rules Too!
The sharp sell-off in equity prices is no reason for the Federal Reserve to abandon its plan to continue to raise official interest rates, but it does highlight the need for policymakers to offer better clarity, if not establish some [...]
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- Global| Oct 03 2018
"Irrational Exuberance" --- Part 3
There's an old saying, "fool me once and shame on you; fool me twice shame on me". Yet, who's to blame when it happens a third time? Soaring equity prices along with continued increases in real estate prices in the third quarter have [...]
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- Global| Sep 26 2018
Finally, Policymakers Are Rethinking the 2% Inflation Target
A number of current and former of policymakers along with other public officials and analysts have started to debate whether the 2% inflation target is still a viable policy rule. The debate is long overdue, but the trouble with this [...]
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- Global| Sep 19 2018
The Lack of Adequate Policy Defenses Could Make the Next Crisis Much Worse
Ten years after the Great Financial Crisis policymakers are still debating the causes and the missed signs. Nevertheless, there is also a quiet sense of accomplishment and achievement among past and current policymakers as the [...]
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- Global| Sep 11 2018
Fed Policy: In Search of Rate Neutrality
Federal Reserve policymakers have clearly indicated their intentions to raise official rates by 25 basis points at the September 25-26 Federal Open Market Committee Meeting. Yet, one of the more contentious issues that may be [...]
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- Global| Sep 04 2018
Are Inflation Expectations Moveable?
Policymakers are increasingly relying on measures of inflation expectations in order to monitor potential changes in the inflation outlook. Yet, with general inflation steady and inflation expectations often no more than an [...]
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- Global| Aug 20 2018
Odd Couple: "A Genuine Economic Boom" & Bigger Budget Deficits
At a cabinet meeting last week, White House economic advisor Mr. Larry Kudlow described the economy's performance in 2018 as a "genuine economic boom." Yet, Mr. Kudlow failed to mention that this "economic boom" is being accompanied [...]
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- Global| Aug 06 2018
Why Has Core Consumer Inflation Stayed Flat?
One of the great economic mysteries of the past 20 years has been the lack of cyclical pressure in core consumer price inflation. The answers to this mystery are far from being merely academic since the stance of monetary policy is [...]
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- Global| Aug 06 2018
Why Has Core Consumer Inflation Stayed Flat?
One of the great economic mysteries of the past 20 years has been the lack of cyclical pressure in core consumer price inflation. The answers to this mystery are from being merely academic since the stance of monetary policy is now [...]
- Global| Jul 30 2018
Fed Chairman Powell's First Test--Fiscal Stimulus Boosts Q2 Nominal GDP to Its Fastest Growth Rate Since 2006
Federal Reserve Chairman Jerome Powell's first test of deciding over the proper stance and course of monetary policy has arrived. Back in February when Mr. Powell testified before Congress he said one of the more important factors [...]
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- Global| Jul 24 2018
Something Missing: Yield Curve Signal Not Confirmed Elsewhere
A lively debate has broken out over the narrowing of the yield curve, or the spread between short and long-term Treasury yields. In fact, some Federal Reserve officials have stated that they might want to stop raising official rates [...]
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