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The Federal Reserve is widely expected to hike the Fed funds target rate by 25bp today. The real question is how much more the Fed will deliver going forward.
Yesterday, we wrote a short post on Israeli monetary policy and linked to one page on Israeli monetary conditions to give an example of how the "country pages" in our - Markets & Money Advisory - new monthly flagship publication Global Monetary Conditions Monitor (GMCM) will look like. We expect to publish the first edition in March - coinciding with the launch of our new website.
It is hard to be very critical about the conduct of monetary policy in Israel. I have earlier praised the Bank of Israel (BoI) for essentially being an NGDP targetter and when Stanley Fischer was BoI governor nominal GDP basically was kept on a straight line (see here).
The economic suffering of the Greek people is horrendous and it has to stop - interview on TRT World
Yesterday I was interviewed for TRT World about the Greek economy and possible Grexit. Have a look here.
Greece is once again back on the agenda in the European financial markets and we are once again talking about Greek default and even about Grexit. There seems to be no end to the suffering of the Greek economy and the Greek population.
This is from the Financial Times today:
While the Federal Reserve - rightly or wrongly - has initiated a rate hiking cycle it is not given the the central bank in neighboring Canada should follow suit. In fact, according to our our composited indicator for Canada monetary conditions monetary policy is too tight for the the Bank of Canada to hit its 2% inflation over the medium-term.
We - Markets & Money Advisory - will soon be launching a new website. As part of that the blog format will also be "updated" so that not only will it be possible to read blog posts, but we will also put out movies etc.