Eric Wallerstein

Eric joined YRI in 2024 after reporting on bonds at The Wall Street Journal and working as an analyst at the NY Fed. He studied economics, finance, and politics at Bucknell University.

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The Recession Claim

May 9, 2024 2 min read

One of our competitors claims that we are in a recession. Another claims that we will soon be in a recession. The most widely anticipated recession of all times is turning into the longest widely anticipated recession of all times. One day, the diehard hard-landers will be right. Was today the day? We're sure that their heartbeats quickened on today's jobless claims report. Consider the following:

Ed Yardeni
Eric Wallerstein

Tight Fed Fueling Foreign Stock Market Rallies?

May 8, 2024 3 min read paid

In the past, the major foreign central banks often followed the Fed's lead. This time, they aren't waiting for the Fed to ease before doing so themselves. That's boosting the foreign exchange value of the dollar as well as many overseas stock markets. Consider the following: (1) The Swedish Riksbank cut its official rate by a quarter-point today, to 3.75% from 4.00%

Ed Yardeni
Eric Wallerstein

Oil's Slippery Slope

Nov 7, 2023 2 min read paid

The NYMEX nearby futures price of a barrel of crude oil peaked this year at $93.68 on September 27. Notwithstanding the war that started between Israel and Hamas on October 7, the price is down $16.27 from that peak to $77.42. That’s even though Saudi Arabia and Russia reduced their exports during the summer and maintained their cuts through yearend. One reason for this development is

Ed Yardeni
Eric Wallerstein