The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Wednesday, February 16, 2011

Is interest rate volatility a recent innovation?

No, the exception was really the uber-low volatility we saw during the mid to late 1990s and 2000s prior to the GFC. History suggests we may be reverting back to the normality. And the inflation-targeting regime is likely to face some of its stiffest tests yet...Glenn Stevens is probably one of the best central bankers we have ever had. But history has not been kind to him with the cards it has laid on his table.