Tagged: inflation

Markets Have Changed: Why the Old Normal Is Not Coming Back

The most dangerous mistake in the current period is to treat what is happening as a temporary departure from normality. The assumption is that once the wars end, tariffs are eased, supply chains recover,...

The Fed vs. the ECB

Officially, there is no conflict between the Federal Reserve and the European Central Bank. Each institution repeats the familiar language: inflation, employment, price stability, central-bank independence, and data-dependent decisions. But markets do not read...