Future of the FOMC up for grabs

Week ending Friday September 8 2017 A mostly slow week, dominated by impressive hurricane news updates, still there were some happenings on the macro-monetary front. Fischer out at the Fed, Trump and the Dems play nice, and a tug of war between yields and the USD in our forecast model. NGDP forecast marches higher There’s been a war between the yield curve and the currency markets in our market-driven NGDP forecast. So far, the currency markets are winning out, and the weak dollar, along with sporadic help from other market signals and revised NGDP for Q2, have moved the forecast to…

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