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In July, the ECB issued its first Strategic Review since 2003. The latest CfM-CEPR survey investigates one component of the announced policy shift: the new definition of price stability. Most members of the panel of experts on the European economy support the ECB explicitly allowing inflation to exceed its target for extended periods to make up for below-target inflation in
Reunión de Jackson Hole: interrogantes y certezas. ¿Por qué es importante la reunión de Jackson Hole? ¿Qué dirá Powell? Inflación y desempleo Jackson Hole.
Цены на плодоовощную продукцию на минувшей неделе в среднем снизились на 2%, благодаря чему в третий раз в этом году было зафиксировано общее снижение потребительских цен — на 0,01%. При этом стоимость непродовольственных товаров в основном растет, а в годовом выражении инфляция составляет 6,4%. Такие...
Increase In Core Inflation Won't Be Transitory Bad Timing For decades the Federal Reserve anticipated inflation whenever the Unemployment Rate fell to a low level. In 9 of the last 10 recessions since 1954 the Fed hiked the federal funds rate over a period of time until they went too far. The Unemployment Rate subsequently jumped as the economy entered a recession causing the Fed to slash the federal funds rate. This pattern is consistent especially with benefit of hindsight. The one exception was in 1990 when Saddam Hussein invaded Kuwait causing oil prices to spike and a brief war. Please...
MacroBusiness Access Subscriber Only Content at 9:40 am on February 18, 2021 | 1 comment I noted earlier that the US inflation panic is likely to drive yields higher yet. For how high we turn first to BMO: The selloff in Treasuries appears to have stabilized overnight after 10-year yields reached as high as 1.331% and 30s touched 2.11%. These extremes were accompanied by an elevated volume profile with cash trading at 226% of the 2-week norm and 10s garnering 37% of the trading activity – with much of Asia still on holiday. The overseas open on Thursday will prove yet another test of dip-bu...