{"id":17135,"date":"2018-10-05T22:32:36","date_gmt":"2018-10-05T22:32:36","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17135"},"modified":"2018-10-05T22:32:36","modified_gmt":"2018-10-05T22:32:36","slug":"extraordinary-times-of-low-unemployment-and-low-inflation","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/","title":{"rendered":"Extraordinary times of low unemployment and low inflation"},"content":{"rendered":"

Unemployment fell to 3.7% for September, well below the long-term natural rate of unemployment. This normally signifies a tightening labor market, a precursor to higher inflation.<\/p>\n

\"Unemployment<\/p>\n

But growth in average hourly earnings dipped slightly, to 2.75% for the past 12 months. Underlying inflationary forces remain subdued.<\/p>\n

\"Average<\/p>\n

As Fed Chairman Powell suggested, the Fed may be overestimating the natural rate. In his speech on Tuesday<\/a> Powell summed up the current situation:<\/p>\n

…Many of us have been looking back recently on the decade that has passed since the depths of the financial crisis. In light of that experience, I am glad to be able to stand here and say that the economy is strong, unemployment is near 50-year lows, and inflation is roughly at our 2 percent objective. The baseline outlook of forecasters inside and outside the Fed is for more of the same.<\/p>\n

This historically rare pairing of steady, low inflation and very low unemployment is testament to the fact that we remain in extraordinary times. Our ongoing policy of gradual interest rate normalization reflects our efforts to balance the inevitable risks that come with extraordinary times, so as to extend the current expansion, while maintaining maximum employment and low and stable inflation.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Unemployment fell to 3.7% for September, well below the long-term natural rate of unemployment. This normally signifies a tightening labor market, a precursor to higher inflation. But growth in average hourly earnings dipped slightly, to 2.75% for the past 12 months. Underlying inflationary forces remain subdued. As Fed Chairman Powell suggested, the Fed may be … <\/p>\n

Continue reading “Extraordinary times of low unemployment and low inflation”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,46,34],"tags":[],"class_list":["post-17135","post","type-post","status-publish","format-standard","hentry","category-inflation-economy","category-labor-employment","category-us-canada-countries-regions"],"yoast_head":"\nExtraordinary times of low unemployment and low inflation - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Extraordinary times of low unemployment and low inflation - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Unemployment fell to 3.7% for September, well below the long-term natural rate of unemployment. This normally signifies a tightening labor market, a precursor to higher inflation. But growth in average hourly earnings dipped slightly, to 2.75% for the past 12 months. Underlying inflationary forces remain subdued. As Fed Chairman Powell suggested, the Fed may be … Continue reading "Extraordinary times of low unemployment and low inflation"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-05T22:32:36+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-10-05-unemployment.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Extraordinary times of low unemployment and low inflation\",\"datePublished\":\"2018-10-05T22:32:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/\"},\"wordCount\":206,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-10-05-unemployment.png\",\"articleSection\":[\"Inflation\",\"Labor Market\",\"US & Canada\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/\",\"name\":\"Extraordinary times of low unemployment and low inflation - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-10-05-unemployment.png\",\"datePublished\":\"2018-10-05T22:32:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-10-05-unemployment.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-10-05-unemployment.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/10\\\/05\\\/extraordinary-times-of-low-unemployment-and-low-inflation\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Extraordinary times of low unemployment and low inflation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Extraordinary times of low unemployment and low inflation - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Extraordinary times of low unemployment and low inflation - the patient investor","og_description":"Unemployment fell to 3.7% for September, well below the long-term natural rate of unemployment. This normally signifies a tightening labor market, a precursor to higher inflation. But growth in average hourly earnings dipped slightly, to 2.75% for the past 12 months. Underlying inflationary forces remain subdued. As Fed Chairman Powell suggested, the Fed may be … Continue reading \"Extraordinary times of low unemployment and low inflation\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2018-10-05T22:32:36+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-10-05-unemployment.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Extraordinary times of low unemployment and low inflation","datePublished":"2018-10-05T22:32:36+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/"},"wordCount":206,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-10-05-unemployment.png","articleSection":["Inflation","Labor Market","US & Canada"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/","name":"Extraordinary times of low unemployment and low inflation - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-10-05-unemployment.png","datePublished":"2018-10-05T22:32:36+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-10-05-unemployment.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-10-05-unemployment.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/extraordinary-times-of-low-unemployment-and-low-inflation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Extraordinary times of low unemployment and low inflation"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4sn","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":42835,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/07\/04\/fed-only-expects-to-hit-2-0-inflation-target-in-2025\/","url_meta":{"origin":17135,"position":0},"title":"Fed only expects to hit inflation target in 2025","author":"Colin Twiggs","date":"July 4, 2023","format":false,"excerpt":"The Fed is walking back its hawkish stance on inflation. During an ECB panel discussion Jerome Powell stated that he only expects the Fed to hit their 2.0% inflation target for core inflation in 2025. The Fed Chair says job creation and real wage gains are driving real incomes and\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Unemployment, Average Hourly Earnings Growth","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-02-u3-wages.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-02-u3-wages.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-02-u3-wages.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":42875,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/07\/06\/fed-faces-three-uncomfortable-truths\/","url_meta":{"origin":17135,"position":1},"title":"Fed Faces Three Uncomfortable Truths","author":"Colin Twiggs","date":"July 6, 2023","format":false,"excerpt":"IMF deputy head, Gita Gopinath, recently highlighted three uncomfortable truths for monetary policy: Inflation is taking too long to get back to target. Financial conditions may not be tight enough and sustained high inflation could make the task of bringing inflation down more difficult. Central banks' price and financial stability\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"IMF deputy head Gita Gopinath","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/gita-gopinath-150x200.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":39148,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/11\/29\/slow-motion-train-wreck-an-update\/","url_meta":{"origin":17135,"position":2},"title":"Slow-motion train wreck revisited – Part I","author":"Colin Twiggs","date":"November 29, 2022","format":false,"excerpt":"In February I wrote: \"This is like watching a slow-motion train wreck. The worst I have seen in nearly forty years in financial markets. The Fed may be able to postpone a market crash by several months but the eventual outcome is inevitable. The draw-down has the potential to be\u2026","rel":"","context":"In "GDP and Activity"","block_context":{"text":"GDP and Activity","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/gdp-and-activity\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-28-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-28-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-28-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":37249,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/09\/12\/fed-higher-for-longer\/","url_meta":{"origin":17135,"position":3},"title":"What Fed “higher for longer” means","author":"Colin Twiggs","date":"September 12, 2022","format":false,"excerpt":"Former New York Fed President Bill Dudley says the Fed will need to hold rates \"higher for longer\" in order to curb inflation. He expects rates will be \u201c4% or higher\u201d in the first half of 2023. (Bloomberg) A 75 basis-point hike is on the cards for the next FOMC\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Nymex Light Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":42365,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/06\/01\/no-free-lunches-with-a-tight-labor-market\/","url_meta":{"origin":17135,"position":4},"title":"No free lunches with a tight labor market","author":"Colin Twiggs","date":"June 1, 2023","format":false,"excerpt":"US job openings for April ticked up to 10.1 million, from 9.7 million in March. The gap above unemployment also widened -- by half a million, from 3.9 million in March to 4.4 million in April. Unemployment (3.4%) is at the lowest level in seventy years. The tight labor market\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Job Openings & Unemployment","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":39560,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/12\/14\/will-slowing-inflation-force-the-fed-to-halt-rate-hikes\/","url_meta":{"origin":17135,"position":5},"title":"Will slowing inflation force the Fed to halt rate hikes?","author":"Colin Twiggs","date":"December 14, 2022","format":false,"excerpt":"The consumer price index eased to 7.1% growth for the 12 months to November, while core CPI (excluding food and energy) grew by 6.0%. The prospect of softer inflation, spurred a sharp fall in the 10-year Treasury yield, followed by retracement to test resistance at 3.50%. The primary contributor to\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-13-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-13-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-13-cpi.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=17135"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17135\/revisions"}],"predecessor-version":[{"id":17136,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17135\/revisions\/17136"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}