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by Michael Ashton on October 20, 2009
The recent outperformance of TIPS is striking. Are TIPS expensive? Read more »
by Michael Ashton on October 16, 2009
Monetary policy typically considers core price indices as the target price variable. In the extant case, that might be insufficient. Read more »
by Michael Ashton on October 9, 2009
Valuing 0% cumulative floors (that is, the chance that inflation actually declines over a long period of time) is perilous. Some of these options have traded in the interbank market recently at prices that might make sense, or might not. Read more »
by Michael Ashton on October 7, 2009
Uncertainty is a fact of life. How policymakers deal with that uncertainty is not. Read more »
by Michael Ashton on October 2, 2009
Last month, a decrease in the number of people who wanted a job but were not looking for one raised the possibility that the peak in the Unemployment Rate was near. That indicator, however, has now reversed. Read more »
by Michael Ashton on September 30, 2009
Comments by Warch and Fisher, threatening aggressive Fed tightening, seem inappropriate given the economic environment. What are they up to, and should we be worried? Read more »