Jerome Powell ditches forward guidance
In his first press conference, Jerome Powell baffled both the experts and the markets. After reading the hawkish introductory statement, he defused all fears for a harsh and swift monetary tightening.
phillips curve
From The Bottom Of The Core
BofAML | We have been among the most bearish on Euro Area inflation, expecting 0.9% post-Brexit inflation in 2017, versus consensus at 1.3%. This also applies to core inflation, where we expect a very mild trend over the next two years that would leave core inflation slightly above 1% by 2018. Still, markets are pricing declining inflation over the next few years.
Central bankers are blind to new Phillips curve? Or just sadists?
SAO PAULO | By Benjamin Cole via Historinhas | No, I do not have dense pages of calculus for the reader, purporting that QE would be ruin or divine salvation, or that minor deflation is the theoretical apex of an economic model.