Nikola Kedhi is an economist and financial consultant, a coauthor of the Constitution of the Center-Right Values and

Index

1922Genoa conference 40
1933 Gold confiscation 41
1934 Dollar devaluation 41

Accounting
   possibility of 21
   usefulness of 21
Aggregate demand theory 157
Aggregate spending 162
Aldrich, Nelson 48
Anderson, Benjamin 39
Arbitrage between currencies 30
Asian savings glut 130
Asset-backed securities (ABS) 92
Austrian Theory of the Trade  (Business) Cycle (ABCT) 103, 123, 125, 163–64, 194
   and the yield curve 124–25
Authentication, secure 182
Average inflation targeting 97–99

The Fed’s Dovish “Tapering” and the ECB

This week, the Federal Reserve gave the most dovish “hawkish” statement ever, an apparent aggressive tapering that, in reality, means maintaining very low rates and massive repurchases for longer.

Inflation has skyrocketed and aggressive monetary policy is the key factor in understanding it. I already explained it in my article “The Myth of Cost-Push Inflation.” The Federal Reserve has finally recognized this and has made a U-turn in its policy of maintaining stimulus despite inflationary pressures.