Back in the early post-crisis days, many pundits consumed lots of ink and column inches warning the strong inflationary pressures would be fueled by the orthodox and unorthodox monetary policy. Not only did this not materialize, but policymakers cannot seem to generate much inflation in broad measures of prices, such as captured in the CPI. …
Many observers are puzzled. The last FOMC meeting showed three regional presidents felt sufficiently convinced of the need to hike rates immediately that they chose to dissent. On the other hand, the dot plots showed three officials did not think a hike this year is warranted. There is some speculation that one or two of …
Yellen and Fischer Still Singing from the Same Song Book Read More »
The US dollar’s upside momentum eased yesterday in North America, and follow-through selling was seen in Asia and the European morning. The dollar is lower against nearly all the major and emerging market currencies. The yen is the chief exception, and only barely, as the greenback straddles the JPY104 area. Last week’s US retail …