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After months of pleading from analysts and motioning by central bankers, the Federal Reserve has raised interest rates. The Fed raises the so-called federal funds rate in fractions of a percent. The current rate sits between 0.25 percent and 0.5 percent, or 25 to 50 basis points (bps)

Everything is chaos. That’s the sentiment driving the Street over the last few weeks, especially now that Russian forces have invaded Ukraine. This is how The Wall Street Journal put it last week: “Global markets for everything from stocks to oil to wheat are recording some of the most

Last time, we discussed how unclear comparisons and data make for unclear hypotheses, which make for unclear solutions to the problems proposed. Today, we’ll talk about how leaders may have unclear intentions, intentions that may contradict the rhetoric we so often hear. Unclear intentions A recent opinion piece in

If we’re hurried, we have no room for others. And we have no room for God. A podcast series I listened to last week really drives home this point. Over 10 episodes in a series called Fight Hustle, End Hurry, John Mark Comer and Jefferson Bethke talk about their

In my last post, we discussed some of the unclear definitions and goals surrounding debates on purpose in new capitalism. Today, let’s look at how we often make comparisons that muddy the waters of these important issues. Unclear comparisons A good economist responds to any proposition with “Compared to

For years I’ve been writing in this newsletter that the future of capitalism should be about more than profit maximization. It should be imbued with purpose, meaning, a growing sense of community and culture. Of course, culture is important for organizational success, but what kind of culture to create

During the last few weeks, policymakers at the Federal Reserve — our nation’s central bank — have moved toward slowing down the economy by raising interest rates. The Fed chair, Jerome H. Powell, suggested earlier this week that rates will likely go up in March. Months, even years, of stimulus payments

In an attempt to better understand the debates surrounding gender within the church, I read three books over the holidays that lay a firm foundation: Beth Allison Barr’s The Making of Biblical Womanhood, Kristin Kobes Du Mez’s Jesus and John Wayne, and Michelle Lee-Barnewall’s Neither Complementarian nor

Tonight I graduate from a years-long MBA program that I’m ready to be over. Yesterday I wrote about the knowledge problem and how difficult it is to accurately predict what will happen in the future, especially when using statistics and data. Biases and incentives Unfortunately, the general population—and

More importantly than the time and valuation problems mentioned yesterday, the complicated nature of models like the DCF or those in new Keynesian macroeconomics, or what “value” or “money” even is, brings to bear how difficult it is to properly predict the real world on which many of these assumptions