Economist (US Macro), RDQ Economics

Conrad DeQuadros

Economist (US Macro)

RDQ Economics

RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.  
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Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
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The founders of RDQ Economics—John Ryding and Conrad DeQuadros—worked together on Wall Street for a decade, in the independent research space for nine years, and have experience in central banking at the Federal Reserve and the Bank of England.  John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.

Credit

The Federal Open Market Committee left the fed funds rate unchanged at 1.00%–1.25% today (the vote was unanimous and reflected the departure of Fed Vice Chair Stan Fischer and the appointment of Vice Chair for Supervision Randal Quarles).  The policy statement noted that “the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions.”  This is an upgrade from the September 20 Fed statement which described the economy…

The Federal Open Market Committee left the fed funds rate unchanged at 1.00%–1.25% today (the vote was unanimous and reflected the departure of Fed Vice Chair Stan Fischer and the appointment of Vice Chair for Supervision Randal Quarles).  The policy statement noted that “the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions.”  This is an upgrade from the September 20 Fed statement which described the economy…

Policy Statement Suggests the Fed Remains on Course for a December Rate Hike

Washington budgets are full of gimmicks—some procedural, some arithmetic.  The procedural made progress this week with the passage of a budget resolution in the Senate by 51-49, which paves the way for tax cut legislation via reconciliation (requiring only 50 votes in the Senate).  The Senate budget through arithmetic gimmicks opens the way to a $1.5 trillion tax cut over ten years.  The House budget resolution doesn’t allow room for a deficit-increasing tax cut but another procedural maneuver…

Washington budgets are full of gimmicks—some procedural, some arithmetic.  The procedural made progress this week with the passage of a budget resolution in the Senate by 51-49, which paves the way for tax cut legislation via reconciliation (requiring only 50 votes in the Senate).  The Senate budget through arithmetic gimmicks opens the way to a $1.5 trillion tax cut over ten years.  The House budget resolution doesn’t allow room for a deficit-increasing tax cut but another procedural maneuver…

The Senate Budget Passage, Tax Cuts, and Treasuries

Nonfarm payrolls fell 33,000 in September.  The Labor Department said “the net effect of these hurricanes [in Texas and Florida] was to reduce the estimate of” payrolls, but did not quantify the impact.  However, leisure payrolls—which have a higher share of employment in Florida than the national average—plunged 111,000 and there were 1.5 million people not at work due to “bad weather” in September.  Thus, while we cannot quantify the impact, it is clear that September payrolls were severely…

Nonfarm payrolls fell 33,000 in September.  The Labor Department said “the net effect of these hurricanes [in Texas and Florida] was to reduce the estimate of” payrolls, but did not quantify the impact.  However, leisure payrolls—which have a higher share of employment in Florida than the national average—plunged 111,000 and there were 1.5 million people not at work due to “bad weather” in September.  Thus, while we cannot quantify the impact, it is clear that September payrolls were severely…

September U.S. Employment—Hurricane Effects, Wages Rising

President Donald Trump announced on Friday that he has held four meetings to discuss who will be Fed Chair after the expiration of Janet Yellen’s term on February 3, 2018 and said he will make a decision over the next two to three weeks.  It has been reported in the media that the current candidates include former Fed Governor Kevin Warsh, current Fed Governor Jerome Powell, National Economic Council Director Gary Cohn and Fed Chair Janet Yellen, but that meetings with additional candidates are…

President Donald Trump announced on Friday that he has held four meetings to discuss who will be Fed Chair after the expiration of Janet Yellen’s term on February 3, 2018 and said he will make a decision over the next two to three weeks.  It has been reported in the media that the current candidates include former Fed Governor Kevin Warsh, current Fed Governor Jerome Powell, National Economic Council Director Gary Cohn and Fed Chair Janet Yellen, but that meetings with additional candidates are…

“We should recognize that past efforts to strengthen capital positions and the financial infrastructure place the global financial system in a relative strong position to work through this process.”Fed Chairman Ben Bernanke, Opening Remarks at the Kansas City Fed’s Economic Symposium, August 31, 2007“Substantial progress has been made toward the Federal Reserve's economic objectives of maximum employment and price stability, in putting in place a regulatory and supervisory structure that is well…

“We should recognize that past efforts to strengthen capital positions and the financial infrastructure place the global financial system in a relative strong position to work through this process.”Fed Chairman Ben Bernanke, Opening Remarks at the Kansas City Fed’s Economic Symposium, August 31, 2007“Substantial progress has been made toward the Federal Reserve's economic objectives of maximum employment and price stability, in putting in place a regulatory and supervisory structure that is well…

Financial Stability Risks and Other Under-Recognized Costs of Easy Monetary Policy

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US Treasury (10 Yr Generic) (GT10 GOVT)

Policy Statement Suggests the Fed Remains on Course for a December Rate Hike

The Federal Open Market Committee left the fed funds rate unchanged at 1.00%–1.25% today (the vote was unanimous and reflected the departure of Fed...

RDQ Economics

The Senate Budget Passage, Tax Cuts, and Treasuries

Washington budgets are full of gimmicks—some procedural, some arithmetic. The procedural made progress this week with the passage of a budget...

RDQ Economics

September U.S. Employment—Hurricane Effects, Wages Rising

Nonfarm payrolls fell 33,000 in September. The Labor Department said “the net effect of these hurricanes [in Texas and Florida] was to reduce the...

RDQ Economics

Thoughts on the Next Fed Chair

President Donald Trump announced on Friday that he has held four meetings to discuss who will be Fed Chair after the expiration of Janet Yellen’s...

RDQ Economics

Financial Stability Risks and Other Under-Recognized Costs of Easy Monetary Policy

“We should recognize that past efforts to strengthen capital positions and the financial infrastructure place the global financial system in a...

RDQ Economics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)