A new female Fed
Just before Martin Luther King, Jr. Day, President Biden announced three new nominations to the Federal Reserve Bank Board, two of which are women. If the U.S. Senate approves, women would then account for most of the Federal Reserve Bank’s seven-member board. Lisa Cook and Sarah Bloom Raskin, if confirmed, would join Lael Brainard, who…
By Bill Schmick
January 20, 2022
Climate change is costing billions
In 2021, worldwide, the costs of the ten worst disasters caused by climate change totaled more than $170 billion. It was the fourth time in the last five years that we have suffered that level of damages. Scientists expect next year to be even worse. Insurance companies, like Zurich-based Swiss Re, bear the brunt of…
By Bill Schmick
December 29, 2021
The carbon market comes of age
At the beginning of this year, the global price of carbon was $24.05 per ton of CO2. In order to achieve the emissions reduction goals of members of the Paris Agreement, prices need to reach a range of $50-$100 per ton of CO2. That makes buying carbon an attractive investment.The ongoing concerns about climate change…
By Bill Schmick
May 27, 2021
Are you ready for $50 hamburgers?
Fifty dollars may be an exaggeration, unless you frequent some high-priced restaurants in Manhattan. But consumers should be prepared. Beef prices, for the foreseeable future, will continue to climb. Some cuts of meat are already up 25% from where they were six months ago. As the cook in the house, I usually buy a prime…
By Bill Schmick
February 3, 2022