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Bloomberg Businessweek Weekend - February 3rd, 2023
Bloomberg Businessweek
Are You Expecting the Fed to Cut Rates This Year?
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The long-term bond yield peaked in October at 4.3%. And today we got down to, I believe, 3.35%. That doesn't need to leave a lot of room for much inflation if we're going to have real growth over the next 10 years. We haven't seen it this low since the early 80s when Volcker was trying to strangle inflation out of the system. The bad deflation is caused by demand destruction; good deflation creates demand.
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