The Creation of Asset-Market Volatility via Central-Banking Communications Policy
The market will simply never believe that the amount of Quantitative Easing is independent of the future interest-rate path.
That is all.
Olivier Coibion, Yuriy Gorodnichenko and Dmitri Koustas: Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence: Noted
DeLong's Grasping Reality © J. Bradford DeLong 1995-2019
