The U.S. Inflation Expectations GameGuest Post
The U.S. Inflation Expectations Game by Michele Mazzoleni, Research Affiliates
- We believe the Federal Reserve is overstating the importance of falling inflation expectations, which have become disconnected from the Fed’s target and shown to be poor predictors of CPI inflation.
- We propose a bottom-up approach to forecasting that is independent of the expectation proxies. Our approach suggests that inflation will reach the 2% target by year-end . . .
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