But
the underlying economic expectations that steeper yield curves imply is of global reflation — higher growth and with it higher inflation.
Not exact matches
What I would like to do today is to explain in some detail the logic
underlying this
expectation that
economic conditions will warrant exceptionally low levels of the federal funds rate for an extended period.
And we know that house prices can deviate in a meaningful way from
underlying fundamentals, especially if
expectations of price gains are based on simple extrapolations and become disconnected from
economic fundamentals.
Even so, the
underlying economic momentum appears largely consistent with projected
expectations.