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Inflation in advanced economies remained essentially stable for the third straight month, at around 2.7% yoy. The stickiness of advanced economy inflation so far this year has reduced the likelihood of rapid policy rate cuts by central banks in 2024, which could negatively impact growth rates in 2025 and 2026. Trends in advanced economies were mixed in Q1 – ...
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Here are three things I think I am thinking about this week: 1) Is QE Debt “Monetization”? It’s been 15 years since I first said that the Fed wasn’t “monetizing the debt”. My original work on this caused a huge uproar as hyperinflation fears were rampant during the financial crisis. I’d spent years studying Japan’s stimulus programs following their 1990s ...