Category: Monetary Policy

Let’s pretend you were living in a bunker since January 2009 with no access to the outside world. You come out of the bunker in January 2018 and are presented with the following facts: 1) The U.S. economic expansion that began in June 2009 is now eight and a half years long, 102 months and […]

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Every major developed country central bank in the world is maintaining negative real interest rates in what is now the 9th year of a global economic expansion. Source: and Pension Partners, as of January 12, 2018. Real interest rates = nominal interest rates minus the inflation rate (CPI = consumer price index). Why are […]

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  • Comments Off on Crude Oil, Inflation Expectations, and the End of Easy Money