One and Done?

One and Done?

  I’ve got a couple of charts this week showing just how quickly expectations can change in financial markets. The first chart, shown above, compares the market’s expectations for the terminal level of the federal funds rate (green line) vs. the current target...
Persistent

Persistent

  This week’s featured chart shows the year-over-year change in the U.S. Personal Consumption Expenditures Price Index (excluding food and energy). This is a popular measure of core inflation in the economy that the Federal Reserve follows closely. The problem,...