As in “a picture is worth a thousand words”,
“un bon croquis vaut mieux qu'un long discours”,
"百闻不如一见", or "As the Chinese say, 1001 words is worth more than a picture."!
The end of monetary magic?
"Markets have gone too far in pricing in aggressive Fed cuts. This increases the risk of disappointment."
Chart excerpt from the article "Has the Anchoring of Inflation Expectations Changed in the United States during the Past Decade?"
Ratio of household debt to disposable income
FOMC policy expectations (OIS)
Cumulated German surplus with the rest of the Euro zone.
1920 - 2017
"Put differently, calendar time might not be the best way to compare cycles over time."
A Strong Economy – But We Can Aim Higher.
Remarks by MARY C. DALY President and CEO Federal Reserve Bank of San Francisco
To the Regional Economic Development for Eastern Idaho (REDI)