BY FERNANDO DE FRUTOS, CFA, PhD  |  17 JANUARY 2023   The last three years have been completely abnormal. Today’s inflation is a byproduct of the pandemic, just as high interest rates are. The disappointing returns last year, like the exceptional two years prior, must also be seen in the same context. Sooner or later … Continued

BY FERNANDO DE FRUTOS, CFA, PhD | 6 SEPTEMBER 2022   • As inflation continues to show no signs of abating, the pressure on the Fed to act decisively is mounting. The true purpose of the “jumbo” interest rates hikes is to send an unequivocal signal to all economic agents, and keep inflation expectations anchored. … Continued