TIPS 5 year 5 years fwd
July 31, 2009 at 09:03 AM EDT
This used to be one of the Fed’s major concerns as they are steeped in inflation expectations theory. It could still signal a need to keep a modestly positive ‘real rate’ though the large ‘output gap’ is telling them otherwise. History says they’ll put most of the weight on the output gap, though a negative real rate [...]