Hello, All, Welcome to the 24th issue of Allison’s Ode to the Second Moment, a newsletter firmly on the side of science, our best tool for minimizing risk, even if it doesn’t eliminate it. Another thing Millennials just don't understand For most of modern financial history, inflation was a big deal. It, like all asset prices, could be variable, unpredictable, and sometimes large. It imposed many costs on the economy. Inflation risk made it hard for firms and individuals to make long-term investment decisions and increased the cost of borrowing. But in the post-Volcker era, we’ve only known low, stable, and predictable inflation. Thanks, in large part, to the fact that this is the explicit objective of monetary policy.
Allison's ode to the second movement
Allison's ode to the second movement
Allison's ode to the second movement
Hello, All, Welcome to the 24th issue of Allison’s Ode to the Second Moment, a newsletter firmly on the side of science, our best tool for minimizing risk, even if it doesn’t eliminate it. Another thing Millennials just don't understand For most of modern financial history, inflation was a big deal. It, like all asset prices, could be variable, unpredictable, and sometimes large. It imposed many costs on the economy. Inflation risk made it hard for firms and individuals to make long-term investment decisions and increased the cost of borrowing. But in the post-Volcker era, we’ve only known low, stable, and predictable inflation. Thanks, in large part, to the fact that this is the explicit objective of monetary policy.
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