{"id":90075,"date":"2022-11-28T17:03:07","date_gmt":"2022-11-28T17:03:07","guid":{"rendered":"https:\/\/funds.palos.ca\/issue-37-the-fed-steps-down-to-test-the-lags\/"},"modified":"2022-11-28T17:03:28","modified_gmt":"2022-11-28T17:03:28","slug":"issue-37-the-fed-steps-down-to-test-the-lags","status":"publish","type":"post","link":"https:\/\/funds.palos.ca\/fr\/issue-37-the-fed-steps-down-to-test-the-lags\/","title":{"rendered":"Issue 37 &#8211; The Fed Steps Down to Test the Lags"},"content":{"rendered":"<p>As you know, I\u2019ve been of the view for several months that peak inflation is behind us and the trend has turned. I\u2019ve rested my case on the potential deflationary effect of the speedy rise in the level of interest rates and the rapid decline of the money supply. There is, however, more to this story. The experience of the past 40 years does not evaporate in a few months. It demonstrates clearly that nominal GDP growth of 4% is what is sustainable &#8211; that is 2% for growth and 2% for inflation. Basically, the upticks that crossed N-GDP above 4% have mostly taken the form of higher inflation, except in the late 1990s when productivity surged.<\/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\/11\/Macro_View_112822.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>As you know, I\u2019ve been of the view for several months that peak inflation is behind us and the trend has turned. I\u2019ve rested my case on the potential deflationary effect of the speedy rise in the level of interest rates and the rapid decline of the money supply. There is, however, more to this &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/funds.palos.ca\/fr\/issue-37-the-fed-steps-down-to-test-the-lags\/\"> <span class=\"screen-reader-text\">Issue 37 &#8211; The Fed Steps Down to Test the Lags<\/span> Lire la suite\u00a0\u00bb<\/a><\/p>\n","protected":false},"author":11,"featured_media":90069,"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\/90075"}],"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=90075"}],"version-history":[{"count":0,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/posts\/90075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/media\/90069"}],"wp:attachment":[{"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/media?parent=90075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/categories?post=90075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/funds.palos.ca\/fr\/wp-json\/wp\/v2\/tags?post=90075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}