Monetary policy

The adult in the room?

This year’s presidential elections are completely overshadowed by the Covid crisis. The magnitude of the economic crisis is forcing the different parties on the political spectrum to converge. Therefore, to a large extent, economic policies for the coming years will follow a preset course. Support for households and businesses will be financed with large fiscal … Continued

To infinity and beyond?

The Fed has officially confirmed that we are in the midst of a paradigm shift, and that it may well take another decade for interest rates to return to levels close to their historical average. To the long-term secular trends that reduce inflation – mainly demographics, globalization and digitalization – we must add the deflationary … Continued