tag:blogger.com,1999:blog-5713178645208582139.post6893086449626465965..comments2024-03-17T03:26:42.785-05:00Comments on Macro Musings Blog: Arnold Kling and Expected InflationDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5713178645208582139.post-4995891689423356682009-12-02T13:00:26.269-06:002009-12-02T13:00:26.269-06:00What about going forward? The real yield on 5-yr ...What about going forward? The real yield on 5-yr TIPS looks like it wants to go negative (it trades at .12% today). So if it does decline to sub-zero levels, would you say the Fed is tight or easy? And why is the real rate close to zero when the inflation spread and yield curve steepness both point to a recovery in AD? At the same time gold is rising?<br /><br />All of the above point to a David Pearsonnoreply@blogger.com