While politicians anxiously check the shifting weather-vanes of public opinion and scientists squabble over facts as well as interpretations, central banks are resolutely doing what they do best – wildly exceeding their briefs and trying to drown all problems in a flood of newly-created money. As ever, the underconsumptionists worry that a lack of demand will usher in deflation, in spite of all such efforts. Some of us, however, worry more about what it will do to supply. Here, we explain why [For those who would like a podcast version please follow this LINK]:-
Category Archives: Wages
Fed’s a-Flutter
It was almost inevitable that, days after the front end of the US interest rate structure had undergone a 35 basis-point plunge, its sharpest one week fall in yield since the immediate aftermath of the Lehman Crisis, the key non-farm payroll data would also come in weak. [First published June 10th]
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