This is the links post. But let me say something about monetary policy first. It's not just the Federal Reserve that will be in tightening mode by year-end. Markets expect all the major central banks to join the US central bank in removing accommodation. And so 2018 will be the first year that we see a coordinated tightening campaign in more than a decade.
The inflation data are becoming less benignNow, the Fed is the only central bank that has embarked on this path so far. And we got two pieces of data regarding the Fed's reaction function yesterday. First was the consumer price index. This measure of consumer inflation is not the Fed's preferred measure of inflation because it includes imported inflation. And the Fed is trying to discern how its policies are impacting the US domestically...
As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.