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At the same time, European fiscal policy is tightening considerably, and Congressional gridlock may mean that America will embark on an accidentally rapid tightening path itself.
The overall job market is still on a tightening path, but we're not yet at full employment, and last Friday's underwhelming numbers serve as an important reminder that the path remains bumpy.
The risk, he added, "is that they could be so committed to their highly advertised tightening path that it will be difficult for them to change to a significantly easier path" — i.e., resort to quantitative easing — "if that should be required".
The risk, he added, "is that they could be so committed to their highly advertised tightening path that it will be difficult for them to change to a significantly easier path"—i.e., resort to quantitative easing—"if that should be required".
Similar(56)
The Fed, meanwhile, has embarked on a path of tightening monetary policy by raising rates.
He also has made clear, again rightly, that the West should explore all diplomatic possibilities before setting down a path of tightening sanctions or military action.
The anticipated path of tightening is interesting, he points out, in how it contrasts with the experience of the recent past:Once the Fed got tightening in previous episodes it didn't mess around.
Economists outline three possible courses of action for Moscow: Take the populist path of tightening direct control over the economy, including foreign-exchange controls that would make it difficult to convert the ruble into dollars or German marks.
The challenge of continuing down the path of tightening standards for efficiency -- we will increase our one-third renewable energy goal for the electricity sector beyond the one-third.
There is still no sign of a path towards fiscal tightening over the medium term as the economy recovers.
This suggests the market, which already had a lower path for Fed tightening than the previous projections implied, is even further out of sync with the Fed.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com