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The Fed’s trilemma
In a few short days, the hopes of rapidly obtaining an effective anti-coronavirus vaccine have in the US replaced the hopes of a strong fiscal stimulus. But vaccine or stimulus, the effects on economic activity are the same. If demand is stimulated, the economy will return more quickly to normal and, as a result, inflation, which has so far been contained, will pick up. The Fed will have to solve an interesting dilemma - a “trilemma” truth be told - to calibrate its monetary poli...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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