If central banks adopt a return to full employment as the criteria for withdrawing stimulus from the economy, then lift-off of interest rates is still years away for most of the world’s major economies.
Tag Archives: recession
Exaggerated U.S. recession fears?
We are skeptical of the signal from the yield curve now given the likely distortion from non-U.S. as well as U.S. QE and negative bond yields in much of the world.