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Not long ago, economists argued in public over basic economic policy issues. Foremost among the debates was the clash over equity and efficiency. Efficiency promotes economic growth and overall prosperity. Equity deals with how much of people’s income should be shifted to the less fortunate. Generally, more equity risks less efficiency, hence the so-called ...
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Nothing has been setting the US bond market’s direction this year more than the monthly inflation figures. This week will be no exception. The release of the April consumer-price index on Wednesday is poised to provide the biggest test yet of the rally that started this month when Federal Reserve Chair Jerome Powell swatted away worries that the central ...