Personally, I would like to see the Fed get away from inflation targeting. That's been the source of much central bank lunacy over the years (Abenomics, anyone?).
When Greenspan and the FOMC first discussed the 2% inflation benchmark back in the 1990s, he was dead set against that being made public. He should have stuck to that.
Who doesn’t love to see good economic news on a Monday morning. Thanks, Peter!
Not to be a downer, but the other day you posted a substantial drop in home sales for January. In today’s post, you show that furniture sales volume is also down (unsurprisingly, because if people aren’t buying houses they don’t need to furnish them.) You’ve followed economic data for a long time, Peter - should we be concerned that these are leading indicators of trouble?
Didn’t Kevin Warsh state that his inflation “goal” was between 2.5 and 3%? Guess he’s going to manage to that going forward.
Personally, I would like to see the Fed get away from inflation targeting. That's been the source of much central bank lunacy over the years (Abenomics, anyone?).
When Greenspan and the FOMC first discussed the 2% inflation benchmark back in the 1990s, he was dead set against that being made public. He should have stuck to that.
Who doesn’t love to see good economic news on a Monday morning. Thanks, Peter!
Not to be a downer, but the other day you posted a substantial drop in home sales for January. In today’s post, you show that furniture sales volume is also down (unsurprisingly, because if people aren’t buying houses they don’t need to furnish them.) You’ve followed economic data for a long time, Peter - should we be concerned that these are leading indicators of trouble?