monetary policy
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What is the debasement trade?
The rapid appreciation of precious metal prices has ignited widespread debate across global financial markets. Specifically, investors increasingly embrace the concept known as the “debasement trade.” The term describes market…
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Demand-driven inflation
Inflation rose sharply after the COVID-19 pandemic. However, a new Brookings study points to an important cause. Strong consumer demand played a larger role than supply problems in driving prices…
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Structural Mismatch in Explanations for the Rise in r∗
The macroeconomic debate on the natural rate of interest (r∗) raises key questions about the long-term cost of capital in the United States. This rate represents the real interest rate…