The Wall Street Journal weekend edition printed my letter highlighting how determinants of inflation can be better understood.
CFS Divisia money growth warned about rising inflation and clearly explained why it was low coincident with QE.
To be clear, CFS Divisia money monitors the output of the financial system and its role in the monetary transmission mechanism. It is an essential barometer of the economy, whether one is a market practitioner, Keynesian, or monetarist.
Read the full letter – It May Make the World Go Round, but What’s Money