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Fed Takes Lead in Unwinding Quantitative Easing

The Fed will likely slash its balance sheet by 2023 to 12-1/2 percent of GDP, but will the Bank of Japan follow suit in unwinding its quantitative easing?

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Gold: Risk from Diminished Rate Expectations

Gold, silver and platinum prices have been rebounding over the past six months for what appears to be one major reason: investors losing faith in the Federal Reserve (Fed) to continue raising interest rates in the current tightening cycle, as reflected in Fed Funds Futures.  For example, in mid-March, Fed …

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Quantitative Easing: The Way Out for Central Banks

Off The Charts! examines the pertinent economic issues of the day, providing a deeper dive into complex topics and framing the issues in a way that can lead to a better understanding of the financial and commodities markets.

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Impact of Low Inflation Expectations on Wages

Off The Charts! examines the pertinent economic issues of the day, providing a deeper dive into complex topics and framing the issues in a way that can lead to a better understanding of the financial and commodities markets.

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Why is Wage and Productivity Growth Sluggish?

Despite a tight labor market, wage and productivity growth remain low in the U.S.   Wage growth stood at just 2.5% in July 2017, on par with post-Recession performance.  Labor productivity growth averaged only 1.1% between 2007 and 2016.  Between 1995 and 2007, by contrast, the average growth rate was 2.5%.  …