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It is good to see a Fed member, and a voter at that, saying we have no real clue and having a research letter to explain it through the question is has Dallas gone off reservation or is the Fed about to change tack given their 2% continues out of reach and need a new narrative. I am leaning towards the latter.
The Fed QE experiment is riddled with flaws
2% inflation target is just one example since they don’t calculate inflation properlyHas anyone heard a Fed member speak of “shrinkflation”?
where the cost of the product stays the same but the sum of the product gets smaller[quote=”Assistanc3″ post=1134]The Fed QE experiment is riddled with flaws
2% inflation target is just one example since they don’t calculate inflation properlyHas anyone heard a Fed member speak of “shrinkflation”?
where the cost of the product stays the same but the sum of the product gets smaller[/quote]Yes and good to see Kaplan acknowledge that with his team – interesting Draghi had talk on QE this morning all leading into Jackson Hole.
No I have never heard them mention shrinkflation but many consumer groups have as we all know somethings aren’t cheaper at all – such a flawed measure and just a justification TO BAIL OUT BANKS AND OTHERS – got to have a narrative for the sheep
Kaplan Talking again today
Highlights
Confident US will grow in excess of 2% this year
Growth through the first half was 1.9%
I’m not saying we won’t act again this year, but we must be patient
Government shutdown is something we must be monitoring
We should begin process of running down balance sheet soonRepeats that Fed should be patient
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