The Inflation Miscalculation Complicating Biden’s
Agenda
https://www.nytimes.com/2021/11/24/us/politics/biden-inflation-prices.html
The King Canute Theory of Inflation
https://www.bloomberg.com/opinion/articles/2021-11-24/central-banks-should-abandon-the-king-canute-theory-of-inflation
https://www.nytimes.com/2021/11/24/us/politics/biden-inflation-prices.html
https://www.bloomberg.com/opinion/articles/2021-11-24/central-banks-should-abandon-the-king-canute-theory-of-inflation
The Fed Has More Options Than 0% Rates or Recession
https://www.bloomberg.com/opinion/articles/2021-11-17/the-fed-has-more-options-than-0-rates-or-recession
Brian Chappatta notes:
If the specter of gradually raising interest rates from near zero is enough to cause a market panic, perhaps the Fed should take that as a sign that the financialization of the American economy has gone too far. During the last tightening cycle, equities plunged in late 2018 before the central bank could even fully reach its 2.5% neutral rate, forcing a hard pivot to rate cuts. It’s possible that after the recent sharp run-up in risk assets, investor sentiment would sour even sooner. If the Fed means what it says and wants to conduct monetary policy away from the zero lower bound, leaving stocks and credit markets hooked on stimulus isn’t the way to do it.
https://www.bloomberg.com/opinion/articles/2021-11-17/the-fed-has-more-options-than-0-rates-or-recession
Brian Chappatta notes:
If the specter of gradually raising interest rates from near zero is enough to cause a market panic, perhaps the Fed should take that as a sign that the financialization of the American economy has gone too far. During the last tightening cycle, equities plunged in late 2018 before the central bank could even fully reach its 2.5% neutral rate, forcing a hard pivot to rate cuts. It’s possible that after the recent sharp run-up in risk assets, investor sentiment would sour even sooner. If the Fed means what it says and wants to conduct monetary policy away from the zero lower bound, leaving stocks and credit markets hooked on stimulus isn’t the way to do it.
South Florida and New York See Apartment Rents
Surge More Than 30%
https://www.bloomberg.com/news/articles/2021-11-24/south-florida-new-york-see-apartment-rents-surge-more-than-30
https://www.bloomberg.com/news/articles/2021-11-24/south-florida-new-york-see-apartment-rents-surge-more-than-30
Related:
https://www.vox.com/future-perfect/22798944/jerome-powell-federal-reserve-unemployment-inflation
https://www.vox.com/2021/11/24/22799217/global-inflation-us-eu-germany-uk
https://www.vox.com/2021/11/24/22799217/global-inflation-us-eu-germany-uk
My take:
How did the Fed get it so wrong on inflation?
A still-dovish Fed raises the risk of stagflation lite
https://thehill.com/opinion/finance/580712-a-still-dovish-fed-raises-the-risk-of-stagflation-lite
https://thehill.com/opinion/finance/580712-a-still-dovish-fed-raises-the-risk-of-stagflation-lite