Inflation, investing, bond prices and monetary policy

Today's commentary
Summary: Over the past few years, investors who have expected aggressive monetary policy to produce high levels of consumer price inflation and have invested accordingly have been disappointed. The right question goes to why consumer price inflation has remained subdued and whether it will continue to do so. Below are a few comments on this topic.
I am due to be at a Euromoney conference on inflation-linked products all day tomorrow. I believe my view here is reasonably clear but I thought today would be a good time to revisit the theme of investing in a world of low interest rates and aggressive monetary policy. The last time I addressed this question was in August when I laid out How the United States gets deflation and becomes the next Japan. My thesis was as follows:...


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