Mickey Levy’s wonderful WSJ oped leaves some ideas. Inflation has fallen, although I nonetheless suspect it could get caught round 3-4%. However costs “are 18.9% increased than its [their] pre-pandemic degree.” And a few essential costs have risen much more. “Rental prices proceed to rise in lagged response to the 46.1% surge in house costs.” Those that …
This put up is from a set of feedback I gave on the NBER Asset Pricing convention in early November at Stanford. Convention agenda right here. My full slides right here. There was video, however sadly I took too lengthy to put in writing this put up and the NBER took down the convention video. …