How We Got Here: The Mathematics of Ideology, Not Science

By |2017-04-10T18:53:20-04:00April 10th, 2017|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

You may or may not know much about forward guidance, but it has been of constant attention on the minds of policymakers. Further, policymakers themselves don’t seem to be able to define it, and because of it they can’t seem to solve the bond market puzzle. In orthodox economics, forward guidance is either “Delphic” or “Odyssean.” As usual, there is [...]