Robert Lloyd, CFA
- Nov 25, 2022
Inflation Series: Part 5 Lending is INCREASING as rates rise
If the Fed was hoping higher interest rates would slow lending and economic growth, they are sadly mistaken. As we saw in the lead up to...
Robert Lloyd, CFA
- Nov 25, 2022
Inflation Series: Part 8 Demographics Are Now Inflationary
After decades of shifting labor-intensive factory jobs overseas, the United States finds itself in a new Cold War and a reversal of...
Robert Lloyd, CFA
- Nov 25, 2022
Inflation Series: Part 7 Bank Regulations Contribution To Inflation
Before you claw your eyes out over the title, just look at all the innovation that happened in the 1960s and 1970s. (Table below) Not...
Robert Lloyd, CFA
- Nov 20, 2022
Inflation Series: Part 6 Consumer expectations of inflation are rising
Luckily for the Fed, consumer expectations for inflation are nowhere near the headline CPI numbers. That's the good news. The bad news is...
Robert Lloyd, CFA
- Nov 20, 2022
Inflation Series: Part 5 Lending is INCREASING as rates rise
If the Fed was hoping higher interest rates would slow lending and economic growth, they are sadly mistaken. As we saw in the lead up to...
Robert Lloyd, CFA
- Nov 16, 2022
Inflation Series: Part 4 The bond market says the low inflation days are over
For most of the 1980-2020 period, interest rates have fallen. Sure, there were the occasional pullbacks in this trend, but overall rates...
Robert Lloyd, CFA
- Nov 16, 2022
Inflation Series: Part 3 Government spending is inflationary
While the peak pandemic stimulus spending is ebbing, the level of government spending appears to be stabilizing at a new higher level. On...
Robert Lloyd, CFA
- Nov 14, 2022
Inflation Series Part 2: Monetary policy is inflationary
Monetary policy refers to whether the Federal Reserve is stimulating or constricting growth and inflation in the broad economy. While its...
Robert Lloyd, CFA
- Nov 14, 2022
Inflation Series Part 1: Factors affecting inflation, then and now
To survive 2023, you have to understand what is happening to inflation. Inflation dominates Fed policy today and Fed policy dominates the...
Robert Lloyd, CFA
- Nov 4, 2022
Inflation is going to be a lot more sticky this cycle
Even though we think inflation will fall as we progress through the current recession, there are powerful inflation pressures in place...