ITAÚ: Seeking Inspiration

Its true: I was seeking inspiration when I spent some time in the fabled Writers Room at Washington, D.C.‟s Cosmos Club. I doubt, however, that I was alone in seeking inspiration – policy makers and investors alike seem to be falling back onto the same monetary policy playbook, and that‟s a problem. The ECB talks and the PBOC walks, risk assets bounce while the data disappoint. Yet monetary policy alone is unlikely to be sufficient to offset the looming threat of global deflation.

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