5 Comments

Charles Hayden, in the September 12 edition (#17) of the Applied MMT podcast introduces the idea of aggregating prices from [The Chicago?] futures market, as, he points out, all inflation metrics are [slightly] past measures and so have no predictive value. I suppose its a version of expectations with the twist that those prices are already embedded in the present moment, by those expectations of the traders, into forward pricing. I just heard that one yesterday, so beyond that it's intriguing, don't have my own opinion.

Separately, for those people such as myself in the gougeflation-light (Piketty's r>G) camp, I wonder what the metrics are that that camp uses.

Expand full comment
Oct 27, 2023Liked by Brian Romanchuk

There's also the new kid on the block - VAR models.

Or curve fitting to a belief.

They need to speak to some early 2000s momentum traders to see how that turned out.

Expand full comment