Policymakers’ Unwillingness to Ignore Weakening Economic Data Is Good For Risk-Takers, Bad For Savers
July 16, 2019 at 13:37 PM EDT
By RiverFront Investment Management Forward-looking business sentiment indicators, such as the manufacturing Purchasing Managers’ Index (PMI) surveys, have deteriorated recently across the world (see chart). Unlike many prior periods of economic weakness where policymakers were willing to wait for...