04/25/2023 - Yra Harris: Why Ueda Needs To Raise Rates Or Expand Yield Curve Control
“The world’s central banks OUGHT to suggest to Ueda to raise its YCC ceiling BECAUSE THE WEAK YEN FROM THE CARRY TRADE IS CAUSING GRAVE DANGER FOR THE GLOBAL FINANCIAL SYTEM. The ongoing carry trade elevates global assets — stocks and bonds — suggesting that financial conditions are still to loose. In a previous blog post I suggested that the FED and ECB should not use the equity prices as the BAROMETER of financial conditions but look at other metrics like consumer debt and certainly the rollover of commercial real estate loans.”
