Today my letter in the Financial Times (FT) responds to Howard Marks’ “Investors must not bet too much on macro forecasts.” Marks offers a superb road map for navigating future inflation twists and turns.
However, he misses how macro rules of nature can often be measured – helping investors and public officials better achieve their respective goals.
Monetary measurements represent simply one meaningful mapping.
To view “Inflation was inevitable after the Fed fuelled monetary growth”:
https://www.ft.com/content/2f7f1bad-ed6b-4a6a-9123-0eb024541c8a
We look forward to any comments you might have.