Central Banks have been fighting inflation since the confidence shock precipitated by the terrorist attacks of September 11 2001. Perhaps we were on the brink of a deflationary spiral at the time. Certainly, consumer confidence was very low. In addition, … Continue reading →

The Backdrop: Higher Inflation and Lower Growth: the 1970s Redux? Inflation is today an overarching topic for Central Banks’ officials and market participants. This was not generally the case when started discussing this impending problem last year. The Fed and … Continue reading →