Balancing Inflation and Growth – Part 8 of 13
Over the same period, the dollar has declined nearly 3 percent against the euro. We know that monetary policy acts with a lag $60 Per Sale-Fully Automated Forex System, but even with my well-documented pessimism about the efficacy of lowering the fed funds rate to 3 percent, I had privately hoped, against the odds, that we might get a psychological pop out of the yield curve. Instead, we have heard more and more reports of inflationary concerns, and with them increases in longer-term rates and
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