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← Bond traders now treat the Fed as one voice among several, rather than as the best-informed one.
17 connected korrents · 12 moments from 19 Aug 2004 to 15 Oct 2026.
Everything filed under interest rates
interest rates
Everything filed under public debt
public debt
Everything filed under surgical outcomes
surgical outcomes
Everything filed under inflation
inflation
Everything filed under quantitative easing
quantitative easing Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Bond traders now treat the Fed as one voice among several, rather than as the best-informed one. Bond traders now treat the Fed as one voice among several, rather than as the best-informed one. Last stated today
15 Oct 2026
BD
Brad DeLong — holds since 2026-10-15 — tap for who they are
Same subject: A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. — tap to centre the map on it A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A Fed easing move being immediately followed by a sharp jump in long-term rates suggests the Federal Reserve has lost control over the narrative governing bond-market expectations. — tap to centre the map on it A Fed easing move being immediately followed by a sharp jump in long-term rates suggests the Federal Reserve has lost control over the narrative governing bond-market expectations. Last stated today
15 Oct 2026
BD
Brad DeLong — holds since 2026-10-15 — tap for who they are
Same subject: A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. — tap to centre the map on it A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A government's debt dynamics are a household's or a company's, except that it can print money and tax -- and those two powers are what change the ending. — tap to centre the map on it A government's debt dynamics are a household's or a company's, except that it can print money and tax -- and those two powers are what change the ending. Last stated 2 months ago
21 Aug 2026
RD
Ray Dalio — holds since 2026-08-21 — tap for who they are
Same subject: A longer average debt maturity protects a government from temporary interest-rate spikes and gives it more time to adjust to permanent rate increases. — tap to centre the map on it A longer average debt maturity protects a government from temporary interest-rate spikes and gives it more time to adjust to permanent rate increases. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A new monetary network with its own unit can only bootstrap from zero to mass adoption through a period of upward price volatility. — tap to centre the map on it A new monetary network with its own unit can only bootstrap from zero to mass adoption through a period of upward price volatility. Last stated a year ago
6 Jul 2025
LA
Lyn Alden — holds since 2025-07-06 — tap for who they are
Same subject: A persistently low safe interest rate signals that capital is not very productive at the margin, an underlying economic problem rather than a policy variable. — tap to centre the map on it A persistently low safe interest rate signals that capital is not very productive at the margin, an underlying economic problem rather than a policy variable. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost. — tap to centre the map on it A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost. Last stated 6 months ago
1 Apr 2026
TP
Thuan Pham — holds since 2026-04-01 — tap for who they are
Same subject: An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation. — tap to centre the map on it An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation. Last stated 7 months ago
11 Mar 2026
LA
Lyn Alden — holds since 2026-03-11 — tap for who they are
Same subject: Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022. — tap to centre the map on it Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022. Last stated 4 years ago
25 Jul 2022
NS
Noah Smith — holds since 2022-07-25 — tap for who they are
Same subject: Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals. — tap to centre the map on it Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals. Last stated 2 years ago
24 Sept 2024
LA
Lyn Alden — holds since 2024-09-24 — tap for who they are
Same subject: Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. — tap to centre the map on it Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. Last stated 16 years ago
6 Sept 2010
SS
Scott Sumner — holds since 2010-09-05 — tap for who they are
SS
Scott Sumner — no longer holds since 2010-09-06 — tap for who they are
Same subject: Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. — tap to centre the map on it Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A single risk-adjusted summary of a surgeon's results risks giving spurious credibility to analyses that ignore non-patient influences. — tap to centre the map on it A single risk-adjusted summary of a surgeon's results risks giving spurious credibility to analyses that ignore non-patient influences. Last stated 22 years ago
19 Aug 2004
DS
David Spiegelhalter — holds since 2004-08-19 — tap for who they are
Same subject: A surgeon's performance cannot be separated from that of the institution because quality depends heavily on institutional systems. — tap to centre the map on it A surgeon's performance cannot be separated from that of the institution because quality depends heavily on institutional systems. Last stated 22 years ago
19 Aug 2004
DS
David Spiegelhalter — holds since 2004-08-19 — tap for who they are
Same subject: Casemix makes it unwise to publish surgeons' unadjusted mortality figures for comparison. — tap to centre the map on it Casemix makes it unwise to publish surgeons' unadjusted mortality figures for comparison. Last stated 22 years ago
19 Aug 2004
DS
David Spiegelhalter — holds since 2004-08-19 — tap for who they are