Caroline Cakebread
Back in 2002 I asked Michael Keenan, a long-time CIR board member, to write about what everyone was talking about after the first market crash of 2001-2002– inflation. Back then, Michael decided to bypass the topic of inflation and flag another risk at the time – deflation. Now that everyone is wading back into the deflation-inflation debate after the most recent market carnage, I thought this piece might just be filed under “what is old is new again”. Except that things are a lot different now – and much more serious. Debt levels are higher and the threat of deflation is a bigger risk. Link to the paper here...PDF_Keenan_Deflation-2002