{"id":89248,"date":"2022-05-30T15:40:39","date_gmt":"2022-05-30T15:40:39","guid":{"rendered":"https:\/\/funds.palos.ca\/issue-20-accentuate-the-positive-inflation-is-turning\/"},"modified":"2022-05-30T15:40:57","modified_gmt":"2022-05-30T15:40:57","slug":"issue-20-accentuate-the-positive-inflation-is-turning","status":"publish","type":"post","link":"https:\/\/funds.palos.ca\/fr\/issue-20-accentuate-the-positive-inflation-is-turning\/","title":{"rendered":"Issue 20 &#8211; Accentuate the Positive: Inflation Is Turning"},"content":{"rendered":"<p>A happy economy is one which has a sustainably low level of misery. The misery index, which is the addition of the inflation rate (8.3%) and unemployment rate (3.6%), currently stands at 11.9%, 4.9 points above the level and composition that the general public would consider desirable, 2% for inflation and 5.0% for the unemployment rate being optimal. There is theoretical validity and empirical evidence that, in order to have and keep this ratio in a happy medium, economic growth, expressed in real terms, must run at a 2% annual rate. While not inflexible, in order to achieve this objective in a sustainable manner, two important things must be always kept in sync. Firstly, the Fed\u2019s policy rate (1.00%) must be close to what is an acceptable neutral rate, which is estimated to be the yield on 5-year-treasuries (2.75%). Secondly, the yield curve, which is the difference between 10-year and 2-year Treasuries, must always be moderately positive: 50 bps is a number that can withstand strong headwinds.<\/p>\n<p>&nbsp;<\/p>\n<p>Follow us on: <a href=\"https:\/\/www.linkedin.com\/company\/palos-management-inc.\/\"><strong>LinkedIn<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">By Hubert Marleau<\/span><\/p>\n<p><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/funds.palos.ca\/wp-content\/uploads\/2022\/05\/Macro_View_053022.pdf\">Continue Reading in PDF<\/a><\/span><\/strong><\/p>\n<p><span style=\"color: #000000;\">By Hubert Marleau<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A happy economy is one which has a sustainably low level of misery. The misery index, which is the addition of the inflation rate (8.3%) and unemployment rate (3.6%), currently stands at 11.9%, 4.9 points above the level and composition that the general public would consider desirable, 2% for inflation and 5.0% for the unemployment &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/funds.palos.ca\/fr\/issue-20-accentuate-the-positive-inflation-is-turning\/\"> <span class=\"screen-reader-text\">Issue 20 &#8211; Accentuate the Positive: Inflation Is Turning<\/span> Lire la suite\u00a0\u00bb<\/a><\/p>\n","protected":false},"author":11,"featured_media":89244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[],"_links":{"self":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts\/89248"}],"collection":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/comments?post=89248"}],"version-history":[{"count":0,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts\/89248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/media\/89244"}],"wp:attachment":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/media?parent=89248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/categories?post=89248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/tags?post=89248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}