Bond Outlook [by bridport & cie, July 26th 2006]
We were perhaps the last to maintain our faith in the consistency and determination of Bernanke, while others accused him of flip-flopping. Now even our faith is being tested. His latest testimony was built around a classic non sequitur : the economy is now slowing down, therefore inflation has nearly been beaten. Yet, as a younger man he lived through the stagnation of the 1970’s, so from experience, never mind academic analysis, he must know that damping the economy is indeed needed to slow inflation but that inflation still has a life of its own. |
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
