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The essence of the problem is that the war against inflation is over, ... Ever since 1979 the Fed was fighting a war against inflation, and you always knew which way you wanted the inflation rate to go over the long run -- down.
Paul McCulley
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Paul McCulley
Age: 67
Born: 1957
Born: March 13
Author
Economist
Paul Allen McCulley
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The lion's share of the bear market is over, ... It's a two-part issue. Yes, the marketplace could be nasty. But there's a great deal of nastiness that's already happened in the bond market.
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