Thanks for the crucial update. FOMC schizophrenia: Do I stop because inflation is increasing? Or do I go because R-gDp is decelerating? June's #'s will determine what happens in the markets. Powell has de-emphasized the importance of the money stock, reporting monthly figures instead of weekly figures.
Chairman Jerome Powell: "there was a time when monetary policy aggregates were important determinants of inflation and that has not been the case for a long time"
The FED discontinued the G.6 Debit and Demand Deposit Turnover release for spurious reasons.
As Dr. Philip George posits: ““Changes in velocity have nothing to do with the speed at which money moves from hand to hand but are entirely the result of movements between demand deposits and other kinds of deposits.”
I know the GOSPEL. Economic forecasts within a year are infallible. William Barnett's M4 Divisia #s are spurious too. He can't forecast. See: “New Measures Used to Gauge Money supply WSJ 6/28/83
Thanks for the crucial update. FOMC schizophrenia: Do I stop because inflation is increasing? Or do I go because R-gDp is decelerating? June's #'s will determine what happens in the markets. Powell has de-emphasized the importance of the money stock, reporting monthly figures instead of weekly figures.
Chairman Jerome Powell: "there was a time when monetary policy aggregates were important determinants of inflation and that has not been the case for a long time"
The FED discontinued the G.6 Debit and Demand Deposit Turnover release for spurious reasons.
https://monetaryflows.blogspot.com/2010/07/monetary-flows-mvt-1921-1950.html
As Dr. Philip George posits: ““Changes in velocity have nothing to do with the speed at which money moves from hand to hand but are entirely the result of movements between demand deposits and other kinds of deposits.”
I know the GOSPEL. Economic forecasts within a year are infallible. William Barnett's M4 Divisia #s are spurious too. He can't forecast. See: “New Measures Used to Gauge Money supply WSJ 6/28/83