Should savers and retired investors take the Fed’s bait and invest in long bonds? Not when you have a Fed chairman with a money-printing habit and prominent economists such as Ken Rogoff, the former chief economist of the International Monetary Fund, calling for a “sustained burst of moderate inflation, say, 4–6% for several years.”
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Business and...
Developed world equity markets have been hammered in recent weeks. In U.S. dollar terms, many have entered bear market territory—defined as a peak-to-trough decline...