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The Case of the Missing Inflation…and What the Fed’s Doing About It
By Advisor Perspectives
US inflation has been running low for some time, and key members of the Federal Reserve Open Market Committee (FOMC) are pointing a finger at the traditional policy framework. So rate hikes are on hold for the time being—and monetary policy is under the microscope.
Since the beginning of this year, bond markets have dramatically adjusted their expectations for US Federal Reserve interest-rate hikes. The market is no longer pricing in further increases this year, or in 2020, for that matter. We don’t expect further rate hikes either, but our rationale is different from popular wisdom.
Read more at Advisor Perspectives.