“How long is a piece of string?” Earlier this year, in a commentary littered with bad ‘star’ puns, we wrote about the concept of r*, or the neutral rate. This is the level for the overnight rate which neither stimulates nor restricts the economy and leads to stable inflation. We noted that the baseline assumption […]
Waiting For Godot | September 2023
“If I had known who Godot is, I would have written it in the script.” Samuel Beckett Samuel Beckett’s famous ‘tragicomedy in two acts’ is often described as a play in which nothing happens, twice. The two protagonists, Vladimir and Estragon (Didi and Gogo), spend the entirety of the play (as the title would suggest) […]