John Vail on Forbes.com*:
The Fed's Interest Rate Repression Needs Inflation Repression, So Let's Thank Techies & Engineers
“We all have heard of the term 'interest rate repression' for how central banks have kept rates at ultra-low levels, but this has only been successfully maintained due to what I call 'inflation repression.' Wouldn’t QE have spun out of control and lost investors' confidence if the CPI was running at 3% during the past seven years? Of course so! Instead, strong technological gains boosted overall corporate profits and personal lifestyles even as interest rates could remain low.
So how has the CPI been repressed?” ... Read more
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