7/11/2022 Economy & Markets For the Fed, the impossible QT The Fed has started shrinking its balance sheet as part of its fight against elevated inflation.
12/10/2022 Economy & Markets Too early for a Fed pivot The flattening of the US yield curve will depend on the persistence of core inflation and on the impact of monetary tightening on growth.
12/09/2022 Economy & Markets Rational inattention at the core of central bank strategy The origins of inflation are not always well understood. While some economists had warned of impending inflation as early as last year, few had anticipated...
11/07/2022 Economy & Markets The ECB’s ability to raise rates will depend on the strengt... The ECB is determined to tighten its monetary policy in the face of record high inflation levels.
6/05/2022 Economy & Markets Upward pressures on inflation are the major market driver We expect central banks to remain on the hawkish side as long as inflation expectations remain on the upside, as central banks are afraid of losing their...
3/02/2022 Economy & Markets The journey back to zero real rates Real interest rates in the US and Europe have reached negative levels that are unprecedented in recent history.