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

Outgoing Fed Chair Janet Yellen appears to pay less attention to financial conditions than some other policymakers.  Yellen said in June “we’re not targeting financial conditions” and in September she appeared to not even acknowledge the easing of financial conditions admitting only that “arguably, financial conditions overall haven’t tightened that much.”  Fed Chair nominee Jay Powell, however, said in June that policy normalization “in theory should tighten financial conditions.”  The problem…

Outgoing Fed Chair Janet Yellen appears to pay less attention to financial conditions than some other policymakers.  Yellen said in June “we’re not targeting financial conditions” and in September she appeared to not even acknowledge the easing of financial conditions admitting only that “arguably, financial conditions overall haven’t tightened that much.”  Fed Chair nominee Jay Powell, however, said in June that policy normalization “in theory should tighten financial conditions.”  The problem…

Will Incoming Fed Chair Powell Be Symmetrical on Financial Conditions?

Nonfarm payrolls rose 261,000 in October—while this gain was below expectations, payroll gains in the prior two months were upwardly revised by 90,000.  The unemployment rate fell to 4.1% in October from 4.2% in September as the labor force participation rate dropped to 62.7% from 63.1%.Average hourly earnings were flat in October, slowing year-over-year wage growth to 2.4% from a revised 2.8% (was 2.9%).  Total private-sector hours worked rose 0.2% and hours worked of factory production workers…

Nonfarm payrolls rose 261,000 in October—while this gain was below expectations, payroll gains in the prior two months were upwardly revised by 90,000.  The unemployment rate fell to 4.1% in October from 4.2% in September as the labor force participation rate dropped to 62.7% from 63.1%.Average hourly earnings were flat in October, slowing year-over-year wage growth to 2.4% from a revised 2.8% (was 2.9%).  Total private-sector hours worked rose 0.2% and hours worked of factory production workers…

Payrolls Surged, Unemployment Rate Fell, But Wage Growth Slowed In October

President Trump announced today that current Fed governor Jerome Powell will succeed Janet Yellen as Fed Chair—subject to Senate confirmation—when her term as Fed Chair ends on February 3rd next year (although Yellen’s term as a Fed governor runs through January 31, 2024).  Powell has been a Fed governor since May 25, 2012 (filling an unexpired term and then reappointed on June 16, 2014).  Powell has a background in law and investment banking and is the first Fed Chair since G. William Miller…

President Trump announced today that current Fed governor Jerome Powell will succeed Janet Yellen as Fed Chair—subject to Senate confirmation—when her term as Fed Chair ends on February 3rd next year (although Yellen’s term as a Fed governor runs through January 31, 2024).  Powell has been a Fed governor since May 25, 2012 (filling an unexpired term and then reappointed on June 16, 2014).  Powell has a background in law and investment banking and is the first Fed Chair since G. William Miller…

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

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Will Incoming Fed Chair Powell Be Symmetrical on Financial Conditions?

Outgoing Fed Chair Janet Yellen appears to pay less attention to financial conditions than some other policymakers. Yellen said in June “we’re not...

RDQ Economics

Payrolls Surged, Unemployment Rate Fell, But Wage Growth Slowed In October

Nonfarm payrolls rose 261,000 in October—while this gain was below expectations, payroll gains in the prior two months were upwardly revised by...

RDQ Economics

Fed Chair Nominee Jerome Powell

President Trump announced today that current Fed governor Jerome Powell will succeed Janet Yellen as Fed Chair—subject to Senate confirmation—when...

RDQ Economics

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

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